Obama, seeking to break an impasse over health-care legislation, proposes a plan that includes the first Medicare tax on unearned
income such as capital gains and higher fees on drugmakers.
President Obama’s latest push for a health care overhaul could drive health plans around the country into insolvency, according
to an insurance trade group.
At the heart of the debate is the question of what should be a fair profit for health insurers. WellPoint CEO Angela Braly
will likely be grilled on the issue when she appears at a Congressional hearing Wednesday.
President Obama will release a proposal to restart the health-care debate before a bipartisan White House meeting on Feb.
25, one day after WellPoint officials testify before Congress about steep rate increases.
Congressman Andre Carson will make remarks Thursday during a public chastising of Indianapolis-based health insurer for 21-percent rate
hike on individuals.
State House insurance committee chair grills executives about WellPoint’s 21-percent premium increase for individual policyholders
in Indiana.
Three WellPoint executives will be on hand Wednesday morning to answer questions about premium increases on its individual
policies, which have risen as high as 39 percent this year.
The Indianapolis-based insurer, preparing for Congressional testimony on proposed premium increases in California, says its
earnings forecast is now less clear.
Individual insurance rate hikes like those recently planned for WellPoint Inc.’s California customers might be unlikely to
spread to those covered through their employers. But such hikes will affect a huge number of Americans — the 46 million
with no insurance at all.
The planned rate increase, which state officials estimated would affect about 700,000 customers, averaged 25 percent and would have been as high as 39 percent for some.
Health insurer WellPoint is blaming the Great Recession and rising medical costs for its planned 39 percent rate increase
for some California customers of its Anthem Blue Cross plan. But Health and Human Services Secretary Kathleen Sebelius isn’t
buying the explanation proffered in a letter delivered to her Thursday.
The Indianapolis-based health insurer says a shift in demographics and rising medical costs have led to its planned 39 percent
rate hike for some California customers.
Anthem has declined to say how many of its 800,000 individual policyholders in California are being affected by the hike.
But Health and Human Services Secretary Kathleen Sebelius demanded specifics in a sternly worded letter.
WellPoint Inc. chief financial officer Wayne DeVeydt said President Obama’s Federal Trade Commission is unlikely to approve
mergers among the biggest insurers.
WellPoint and other health insurers were profitable in 2009, but the lingering unemployment problem is dampening the outlook
for this year.
Indianapolis-based trucking fleet insurer benefits from investment gains after large losses the previous year.
Larry Glasscock will step down March 1 as WellPoint CEO Angela Braly takes over leadership of the company’s board. She replaced
Glasscock as CEO on June 1, 2007.
Larry Glasscock will retire as chairman of WellPoint Inc.’s board, the Indianapolis-based health insurer said early Wednesday.
Company CEO Angela Braly will assume the position March 1.
Analysts say losses of employer-sponsored insurance customers due to layoffs is finally slowing down.
The Indianapolis-based health insurer earned $6.09 per share in 2009, excluding extraordinary items; it expects a $6-per-share
profit in 2010.
