HEALTH INSURER

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• Cigna sees strong annual profit on lower costs, pharmacy benefit strength

  The company now expects an adjusted profit of at least $28.40 per share in 2024, up 15 cents from its previous forecast.

  

• Centene's concerns over Medicare market dull Q1 profit beat

  ​The U.S. government's lower-than-expected final rates for 2025 Medicare Advantage (MA) reimbursements and elevated medicals costs due to strong demand for healthcare among older adults are expected to hit insurers offering MA plans intended for people aged 65 and older.

  

• UnitedHealth unit will start processing $14 billion medical claims backlog after hack

  The company has been scrambling to resume services at the technology unit that was hit by a cyberattack on Feb. 21, disrupting payments to U.S. doctors and healthcare facilities and forcing the U.S. government to launch a probe.

  

• Cigna removes pre-authorization requirement for 25 per cent of medical services

  Health insurers have come under pressure as physicians claim that the pre-authorization requirements for some procedures are restrictive and increases their paperwork.

  

• Hacker publishes Australian health insurer's customer data

  The thieves had reportedly threatened to expose the diagnoses and treatments of high-profile customers unless a ransom of an undisclosed amount was paid, but Medibank decided there was "only a limited chance" that a ransom would prevent the data being published.

  

• Walmart, UnitedHealth to offer joint program for preventive healthcare for seniors

  Walmart's latest push into health care and could help the retail giant better compete with CVS Health and Walgreens Boots Alliance.

  

• CVS to pilot stores with additional floor space for health

  Merlo, speaking at the Forbes Healthcare conference, said that in the pilot stores the company will dedicate 20 percent or more of the floor space currently occupied by "front of the store" health and beauty items to the healthcare services.

  

• Humana cuts 2019 forecast for Medicare prescription drug plans

  The company said it expected to add between 350,000 and 400,000 members to its Medicare Advantage health plans in 2019. It had previously expected additions of between 250,000 and 300,000 members.

  

• CVS expects Aetna deal to close after Thanksgiving

  The pharmacy chain and benefits manager had previously expected the transaction to close by Nov. 22.

  

• Walmart, Home Depot adopt health insurer tactic in drug copay battle

  The move reflects their frustration that the coupons, which lower patient out-of-pocket spending, can be a disincentive to seeking less expensive treatments and drive up health plan costs.

  

• Health insurer Centene's quarterly profit falls 91 pct

  Centene, which primarily focuses on government-backed health insurance plans, reported a net income of $19 million, or 9 cents per share, in the third quarter ended Sept. 30, compared to $205 million, or $1.16 per share, a year earlier.