On Thursday, December 24th, the Senate passed the Patient Protection and Affordable Care Act.
Humana announced that its contract to administer the TRICARE South Region has been extended through March 31, 2011.
Health plan industry stock prices for the month of December increased 9.4%, on average. Industry capitalization grew 7.8% for the month. The broader market, measured by the S&P 500, increased 1.8% in December. Valuation indicators were positive for the month of December.
Blue Care Network, a subsidiary of Blue Cross Blue Shield of Michigan, named Kevin Klobucar as President. CIGNA Corporation named Andrew Kielty Senior Vice President of International Expatriate Benefits. Coventry Health Care, Inc. appointed Matthew D. Eyles as Vice President, Public Affairs and Policy. Seattle-based Group Health Cooperative promoted James Hereford to Executive Vice President of Group Practice Division. Philadelphia-based Independence Blue Cross appointed Richard L. Snyder as Chief Medical Officer. Molina Healthcare, Inc. named Maritza Borrajero Chief Operating Officer of its Florida subsidiary, Molina Healthcare of Florida. Health Net, Inc. appointed Linda Tiano as President, Regional Health Plans, Health Net of the Northeast and Angelee Bouchard as Senior Vice President, General Counsel and Corporate Secretary. WellCare Health Plans, Inc. elected Alec R. Cunningham as its Chief Executive Officer and named Maurice S. Hebert as its Chief Accounting Officer.
UnitedHealth Group closed its acquisition of Health Net’s Northeast operations. Wellpoint, Inc. announced that it has completed the divestiture of its PBM subsidiaries to St. Louis-based Express Scripts. The Kansas Insurance Department has approved Coventry’s acquisition of Preferred Health Systems, Inc.
Health Net, Inc. will resume its stock repurchase program, which was suspended during the third quarter of 2008. Humana, Inc. announced that its Board of Directors has renewed its authorization to repurchase up to $250 million worth of shares of the company’s common stock.
Aetna, Inc. announced that it will incur a fourth-quarter 2009 charge of approximately $60 to $65 million.
Features dates of upcoming 4th Quarter and Year-End earnings announcements as of December 31st.
This month’s insert supports the proposition that managements’ execution of administrative expense strategies can achieve competitive results regardless of their size.
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