Sherlock Company is now distributing its performance benchmarks for Blue Cross Blue Shield Plans. The median cost for all comprehensive products is $25.90 per member per month.
Beginning with this edition of PULSE, Sherlock Company has begun coverage of Universal American Financial Corporation. Universal American is a Rye Brook, NY based specialty health and life insurance company that focused on products serving the Medicare-eligible population.
Seven health plans, Blue Cross Blue Shield of Tennessee, Coventry, Humana, Sterling, United Healthcare, Universal American Financial Corp. and Wellcare, have recently voluntarily signed an agreement to suspend marketing of private fee-for-service (PFFS) plans due to growing concerns about the marketing practices to Medicare recipients.
Average health plan stocks decreased 5.4% for the month of June. Valuation indicators decreased last month. Since none of the fourteen plans reported earnings last month, it is reasonable to assume that the driver was worsening investor sentiment.
CIGNA Corporation had a three-for-one stock split, in the form of a stock dividend, of the company’s shares for shareholders.
Aetna, Inc. announced recently that it will acquire Schaller Anderson Incorporated, of Phoenix, AZ. The transaction is expected to be completed by the third quarter of this year. Humana, Inc. announced on June 19, 2007 that it has signed a definitive agreement to purchase CompBenefits Corporation. Universal American Financial Corporation announced recently that it has entered a definitive agreement to acquire MemberHealth, Inc. The transaction is expected to close in the late third quarter of 2007.
This month we look at executive compensation trends for health plans. Strong relationships were found between compensation and various operational attributes of the health plans.
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