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Insurers are benefiting from increased number of patients, aided by an expansion of Medicaid, a federal health insurance program for lower-income people that is administered by the states, under Obamacare. WellCare members under the Medicaid health plans increased 31 percent to 2.3 million in the fourth quarter ended Dec. 31, helped by additions in Florida,...
The busier-than-normal flu season has resulted in some U.S. insurers such as Centene Corp and Humana Inc flagging cost concern. We are disappointed with our fourth quarter earnings due to the effect of the early and more severe flu season on our Medicaid business, "WellCare Chief Executive Kenneth Burdick said in a statement on Wednesday.
Feb 3- Health insurer Centene Corp posted a better-than-expected quarterly profit as it added more Medicaid members under Obamacare. Premium and service revenue rose 54 percent to $4.42 billion in the fourth quarter as Centene expanded in Florida, Ohio, Washington, Texas and Illinois. Centene's managed care membership rose 41 percent to 4.1 million in the...
Feb 3- Health insurer Centene Corp's quarterly profit more than doubled as it added more Medicaid members under Obamacare. Centene's net profit rose to $107 million, or $1.76 per share, for the fourth quarter ended Dec. 31, from $53 million, or 93 cents per share, a year earlier. Total revenue rose 61 pct to $4.73 billion.
Dec 12- Health insurer Centene Corp forecast better-than-expected sales and profit for 2015 as it signs on more Medicaid members. The company, which provides services to government-sponsored healthcare programs, said it expects to earn $5.05 to $5.35 per share next year. It also forecast premium and service revenue of $20.3 billion to $20.8 billion.
Members under the Medicaid health plans increased 28 percent to 2.3 million in the quarter ended Sept. 30, driven by additions in Florida, Kentucky and Georgia under the federal health insurance program for lower-income people, Wellcare said. Medicaid expansion has also helped other insurers such as UnitedHealth Group Inc, Centene Corp and Cigna Corp..
Members under the Medicaid health plans rose 28 percent to 2.3 million as Florida, Kentucky and Georgia added more to the federal health insurance program for lower-income people. The expansion of Medicaid also helped other insurers such as UnitedHealth Group Inc, Centene Corp and Cigna Corp.. WellCare's medical benefit expenses rose 40 percent to $3...
Oct 28- Health insurer Centene Corp reported better-than-expected quarterly revenue and profit as it signed on more Medicaid members. Centene, which provides services to government-sponsored healthcare programs, said total membership increased 42 percent from a year earlier to 3.7 million as of Sept. 30. Net profit attributable to Centene rose to $82.6...
Oct 28- Health insurer Centene Corp reported a better-than-expected adjusted profit in the third quarter as it signed on more Medicaid members. About 70 percent of the total were Medicaid members. Net profit attributable to Centene rose to $82.6 million, or $1.36 per share, in the quarter ended Sept. 30, from $49.4 million or 87 cents per share.
Some of Tuesday's midday movers:
The largest U.S. pharmacy benefit manager, Express Scripts, is cutting back on compounded medications, saying most are ineffective or overpriced.
Shares of WellCare Health Plans and Centene surged Tuesday on speculation that one of the two Medicaid insurance providers could be acquired.
Take a look at some of Tuesday's midday movers:
WellPoint bet big Obamacare, and investors expect the nation's largest provider of Blue Cross plans to report large membership gains.
The widely believed notion in the market that Obamacare would be bad for insurance stocks has been the wrong call, said Barclays health-care analyst Joshua Raskin
For the first time, White House officials identified a key flaw crippling Obamacare enrollment on the HealthCare.gov website.
Love it or hate it, Obamacare has the potential to boost health insurance stocks in a big way going forward. Molina and WellCare are two possible winners.
Companies with the lowest cost structures will likely do well, Josh Raskin says.
It is shaping up to be the worst cold and flu season in about ten years, with more than 40 states reporting widespread influenza doctor visits and hospitalizations.
How everyone will deal with the effects of Obamacare in 2013.