Through a combination of funds recovered and losses avoided, Horizon Blue Cross Blue Shield of New Jersey's anti-fraud unit yielded $43.2 million in savings in 2015, according to a statement released Wednesday.
Payer
The following insurers made headlines this week. They are listed below, beginning with the most recent.
A recent study from the University of North Carolina at Chapel Hill revealed specialty drug costs for payers have tripled since 2003, when they represented 11 percent of payer drug spending.
HHS found 11.1 million — over 87 percent — of the 12.7 million Americans who purchased coverage on public health insurance exchanges in 2016 paid their premiums and maintained coverage, Business Insurance reported.
The Connecticut Insurance Department placed Wallingford, Conn.-based health co-op HealthyCT on an immediate order of supervision, prohibiting the insurer from selling or renewing health plans and leaving 40,000 policyholders uninsured.
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The Illinois Department of Insurance has ordered Chicago-based Land of Lincoln Health to hold back on paying $31.8 million, an amount it owes the federal government under the risk adjustment program, according to the Chicago Tribune.
Some health officials in South Carolina fear the Affordable Care Act could disintegrate as health insurers face deficits and offer fewer plans, The Post and Courier reported.
Florida state legislators ditched a five-year waiting period required for immigrant children to gain eligibility for state health insurance, Naples Daily News reported.
Hartford, Conn.-based Aetna will auction a portfolio of its Medicare Advantage assets in hopes of soothing antitrust concerns over its pending merger with Louisville, Ky.-based Humana, Reuters reported.
Kentucky Gov. Matt Bevin's proposal to roll back certain parts of the state's expanded Medicaid program received mostly negative criticism at a public hearing on June 28, reports Courier-Journal.