The Biden administration has announced that representatives of Medicare, a public health insurance program that covers 47 million American seniors and disabled people, on Thursday sent initial offers to pharmaceutical companies in negotiations over 10 of the program’s most expensive and commonly used drugs. The initial offers are part of a negotiation timeline set by […]
The Cigna Group will sell its Medicare business to another insurer, Health Care Service Corp., for about $3.7 billion. Cigna said Wednesday the deal includes its Medicare Advantage insurance, a supplemental benefits business and Medicare prescription drug coverage. Medicare Advantage plans are privately run versions of the government’s Medicare program mostly for people ages 65 […]
Healthcare By Josh Nathan-Kazis Jan 18, 2024, 3:29 pm EST Share Reprints In this article UNH HUM SPX CI America’s health insurance giants have gone all-in on the government-funded Medicare Advantage program over the past decade, reshaping their businesses to capture the profits it promised. Continue reading this article with a Barron’s subscription. View Options
Humana (HUM) stock tumbled more than 12% on Thursday after the US health insurer reported an increase in older patients seeking care, which would hurt its fourth quarter results. Humana reported the preliminary 2023 fourth quarter numbers — 91.4% medical loss ratio, compared to an 89.5% expected — ahead of its fourth quarter earnings on […]
About 41% of Original Medicare beneficiaries had Medicare Supplement Insurance, or Medigap, in 2021, according to a February 2023 report summarizing enrollment data from AHIP, a national health insurance trade association. For the other 59%, Medicare has some “gaps” that could be costly. “There are many gaps in Medicare that a beneficiary has to pay […]
In 2016, Richard Timmins went to a free informational seminar to learn more about Medicare coverage. “I listened to the insurance agent and, basically, he really promoted Medicare Advantage,” Timmins said. The agent described less expensive and broader coverage offered by the plans, which are funded largely by the government but administered by private insurance […]