Triple-S Management Corp. (TSM), an independent health plan and licensee of the Blue Cross Blue Shield Association based in Puerto Rico, registered on April 27 for an initial public offering (IPO).
Barack Obama and Hillary Clinton have both recently announced their respective plans for health care reform for their bids to become President. We analyze selected aspects of their proposals with respect to their assumptions regarding administrative costs.
Average health plan stocks increased 4.6% for the month of May. Earnings trends were favorable helped and all valuation indicators increased last month.
Four of the thirteen publicly-traded health plans announced earnings last month. Molina Healthcare, Inc. saw revenues increase 23.8% to $556.2 million, while WellCare Health Plans, Inc. experienced a 55.2% increase in risk membership to 1,302,000. Other firms that reported were CIGNA Corporation and HealthSpring, Inc.., both of which reported significant changes in their product portfolios.
WellPoint, Inc. recently announced the resignation of David C. Colby, WellPoints’s CFO, and the appointment of Wayne DeVeydt as his successor.
Our bi-annual review of the financial performance of Blue Cross Blue Shield Plans. Performance was soft due to decreasing margins. Slightly higher health benefit ratios and administrative expense to premium ratios were evident, and preliminary SEER data corroborates this.
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