UNITEDHEALTH

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• UnitedHealth expects bigger hit to annual profit from hack costs

  The company said it expects a 30-cent higher hit to full-year adjusted profit from the disruptions caused to Change by the hack, mainly due to the loan program and notification costs.

  

• US health dept lets UnitedHealth notify victims of data breach, WSJ reports

  ​Earlier in May, the healthcare conglomerate's CEO Andrew Witty told a Congressional committee that hackers potentially stole a third of Americans' data in the cyber attack that led to disruptions in processing medical claims that the company is still trying to fix.

  

• Cigna's medical use trends in line with projections for 2023, 2024 -GS conference

  It raised its annual profit forecast in May for the second time this year, in sharp contrast to some rivals that are struggling with rising costs due to a much larger presence in the government-backed Medicare Advantage (MA) market for adults aged 65 and older.

  

• Centene CEO says its membership shifted to sicker patients due to Medicaid turnover

  ​During the COVID-19 pandemic, from March 2020 insurers were required to keep Medicaid members enrolled. States began redetermining eligibility for the program for low income Americans in 2023 following termination of that policy, and the process is still underway for some.

  

• US health insurer shares fall after UnitedHealth flags Medicaid medical use

  ​Medicaid plans, which serve low-income people, were required during the COVID-19 pandemic to keep enrollees continuously in plans. That policy, which began in March 2020, was terminated in April 2023, prompting each state to reassess who was eligible for coverage.

  

• UnitedHealth's unit to launch new drug pricing model next year

  Currently, out-of-pocket drug prices are decided by a complex, multi-tiered network including insurers, drugmakers, pharmacies and PBMs, resulting in ambiguity around fees and markups to the original cost of the drug.

  

• Ascension warns of suspected cyberattack; clinical operations disrupted

  "Out of an abundance of caution we are recommending that business partners temporarily suspend the connection to the Ascension environment," the healthcare network said in a statement.

  

• Bankrupt Steward Health puts its hospitals up for sale, discloses $9 bln in debt

  ​The privately-owned company closed a hospital in Massachusetts earlier this year, and officials in that state have criticized Steward's management and its former private equity owners for making short-sighted financial decisions that undermined patients' care. Massachusetts officials in particular criticized a series of transactions that sold off the company's real estate and saddled it with long-term rent costs at its hospitals.

  

• UnitedHealth is not too big to fail, CEO tells Senate panel

  Senators grilled Witty during the first of two scheduled testimonies in front of Congressional panels on the recent cyberattack on UnitedHealth's technology unit that impacted almost all patients and providers.

  

• UnitedHealth says wide swath of patient files may have been taken in Change cyberattack

  ​The company said Monday after markets closed that it sees no signs that doctor charts or full medical histories were released after the attack. But it may take several months of analysis before UnitedHealth can identify and notify people who were affected.

  

• UnitedHealth CEO to testify before US House panel on cyberattack at tech unit

  ​UnitedHealth CEO Andrew Witty will testify before a U.S. House subcommittee on May 1 about a recent cyberattack at the company's technology unit and its impact on patients and providers, the Energy and Commerce Committee said on Friday.