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.
For the original version including any supplementary images or video, visit http://money.cnn.com/2013/11/05/news/economy/detroit-retirees-health-care-obamacare/index.html

detroit bankruptcy protests

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.
For the original version including any supplementary images or video, visit http://finance.yahoo.com/news/health-insurers-urged-extend-policies-044700642.html

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