Health Net Beats on Earnings, Revises Outlook – Analyst Blog
That plan covers about 90% to 95% of their medical costs. The court filings said that using the “silver” Obamacare plans, which cover only 70% of medical expenses, will cost them as much as $350 a month in additional premiums after the $125 monthly stipend. Why Detroit filed for bankruptcy The cost of retiree health care is one of the major sources of the city’s $11.5 billion in unsecured debt , which was behind the decision by Emergency Manager Kevyn Orr and Gov. Rick Snyder to file for bankruptcy in July. The pension funds themselves are also underfunded by an estimated $3.5 billion.
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Medicare Advantage MCR improved to 89.9% from 90.1% a year ago. Medicaid MCR amounted to 79.4%, plunging from 91.6% in the year-ago quarter. Government Contracts : Revenues from this segment of Health Net declined to $149.3 million from $169.8 million in the third quarter of 2012. The segment’s expenses also plummeted to $125.8 million from $148.7 million in the prior-year quarter.
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Health Insurers Urged to Extend Policies Beyond Year-End
Also, many states allow people to keep their coverage until it expires, which for some could be as late as December 2014. A Blue Shield spokesman said the three-month extension in California “is a bad idea for consumers.” Some could have to pay a deductible twice next year, because they would be enrolled in separate plans for 2014, he added. Vermont Gov. Peter Shumlin, a Democrat, said late last week that he had asked the state’s two dominant carriers, Blue Cross and MVP Health Care, to allow customers to keep their plans through March 31.
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