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Posts Tagged ‘2012’

Blue Cross parent on track for billion-dollar year

Monday, December 10th, 2012

Chicago HealthCare reports:

“Net income for the parent company of Blue Cross & Blue Shield of Illinois surged in the third quarter, a pace that will likely push the Chicago-based company past $1 billion in annual profits for the third straight year.

Health Care Service Corp.’s net income shot up nearly 46 percent, to $308.4 million, during the third quarter, from the third quarter of 2011, according to a new financial statement. Profits during the first nine months totaled $910.3 million, a hefty total but 1 percent less than in the same period last year.

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Blue Cross parent reports weaker second-quarter results

Friday, August 31st, 2012

Crains reports:

“Bottom-line income for the parent of Blue Cross & Blue Shield of Illinois fell sharply during the second quarter as demand for medical care surged, a sign that the economy is strengthening.

Health Care Service Corp.’s net income fell 28 percent, to $194.3 million, during the second quarter, down from $269.4 million in 2011, when the Chicago-based firm blew past the $1 billion net income mark for the second straight year.

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What Chicago Thinks About Health Care

Monday, July 9th, 2012

Follow the link to a very intresting PDF: <Read More>

Deep cuts loom as state tries to save Medicaid

Monday, April 23rd, 2012

The Chicago Tribune reports:

“The list of medicines Jason Carrington must take every day to treat his multiple sclerosis and related symptoms is long: Copaxone injections to prevent relapses, primidone to control tremors, Seroquel to stabilize his mood, lamotrigine and Cymbalta to treat depression and anxiety.

The drugs can cost thousands of dollars a day, an expense the state now picks up. But the 32-year-old Wicker Park resident soon could find himself forced to seek another way to pay for his prescriptions.

Scaling back such coverage is on the table as Illinois looks for ways to cut spending on its health care program for the poor. The state’s plan for drastically slashing Medicaid in order to save it is expected to come into sharper focus this week as a group of lawmakers and aides reports back to Gov. Pat Quinn.

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Small comfort: Health care costs projected to increase less than 10%, first time in decade

Monday, April 16th, 2012

Employee Benefit News reports:

“Cost increases for health care are perhaps finally slowing down, with employer health benefit expenditures not expected to increase in 2012 at the same explosive growth in recent years. Costs for all types of medical plans are expected to increase by 9.9% for 2012, according to a survey by Buck Consultants, the first time since 2001 that Buck’s survey has projected cost increases less than 10% for any type of plan. The firm has been conducting its survey since 1999.

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Study Finds Alarming Number of Boomers Lack Basic Understanding of Medicare Program

Tuesday, March 6th, 2012

Insurance News Net reports:

“CHICAGO, Feb. 27, 2012 /PRNewswire/ –More than half (56 percent) of America’s middle-income Boomers admit to knowing little or almost nothing about the Medicare program and one in seven (13 percent) falsely believe Medicare is free, the latest study released by the Bankers Life and Casualty Company Center for a Secure Retirement (SM) (CSR) reveals.

The CSR’s Retirement Healthcare for Middle-Income Americans study of 400 pre-Medicare Boomers (age 47 to 64) and 400 older adults (age 65 to 75) with income between $25,000 and $75,000, found that nearly three-fourths (72 percent) of Boomers did not know that most Americans on Medicare pay a monthly premium, co-pays and deductibles.

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Self-Insured Complicate Health Deal

Thursday, February 16th, 2012

New York Times reports:

“The Obama administration thought it had found a way to ease mounting objections to a requirement in the new health care act that all employers — including religiously affiliated hospitals and universities — offer coverage for birth control to women free of charge.

It would make the insurers cover the costs, rather than the organizations themselves.

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Feds recover $4.1B in health care fraud in 2011

Thursday, February 16th, 2012

Benefits pro reports:

“MIAMI (AP) — Federal authorities say they recovered $4.1 billion in health care fraud judgments last year, a record high which officials on Monday credited to new tools for cracking down on deceitful Medicare claims.

The recovered funds are up roughly 50 percent from 2009. Attorney General Eric Holder and Department of Health and Human Services Secretary Kathleen Sebelius were expected to make the announcement at a news conference Tuesday.

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Health-Care Reform’s Fate Won’t Alter Health Care’s Larger Problems

Tuesday, February 7th, 2012
US Navy 070622-N-0194K-743 Cmdr. Steven Johnso...

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The Huff Post reports:

“Health-care reform will not begin in earnest until 2014. However, 2012 will define whether it makes it that far.

The U.S. Supreme Court is expected to rule on reform’s constitutionality before it adjourns in June. If the new law survives the court challenge, it will at least face a political gauntlet — if not its demise — if the Republicans capture the White House, Congress or both in this year’s presidential election.

If health-care reform remains intact, the U.S. health-care landscape will change more in the next decade than it has in the last 50 years. However, health-care reform is mostly health-insurance reform. Its overarching goal was to attempt to ensure affordable access to health insurance and medical care for most Americans. It barely touches skyrocketing health-care costs and accelerates primary-care physician shortages.

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