Heard on the Street: Beaten-Down Health Insurers Take a Breather—for Now
Posted on Tuesday April 16, 2024
Health insurance stocks have been so battered this year that it doesn’t take much good news to move them higher. On Tuesday, UnitedHealth said its first-quarter adjusted earnings topped Wall Street’s estimates, despite a cyberattack on one of its units that weighed on the healthcare and insurance company’s results. Crucially for investors, UnitedHealth’s results implied that if one strips out some one-time costs associated with the cyberattack earlier this year, its core medical-loss ratio—a key measure of medical expenses—was about 83.9%, roughly in line with Wall Street estimates.
UnitedHealth Earnings Beat — With An Asterisk — After Cyberattack; UNH Stock Surges
Posted on Tuesday April 16, 2024
UnitedHealth topped earnings estimates on Tuesday, despite costs incurred from the Change Healthcare cyberattack.
See How Florida's Much Awaited Medicaid Re-Procurement Awards Impact Centene, Humana, Molina
Posted on Monday April 15, 2024
Friday, the Agency for Health Care Administration announced contracts to five health plans due for the re-procurement of the Statewide Medicaid Managed Care (SMMC) program. Florida has finally announced its long-awaited Medicaid contract awards, keeping Centene Inc (NYSE:CNC), Elevance Health Inc (NYSE:ELV), and Humana Inc (NYSE:HUM) as the only providers in each state region. Stephens noted that Centene and Elevance Health re-procured specialty contracts (MMASC) while Centene also retained its
Florida issues Medicaid managed care awards booting out UnitedHealth, CVS and Molina
Posted on Monday April 15, 2024
Meanwhile, Centene, Elevance and Humana held onto statewide contracts. The reprocurement was especially positive for Centene, which had been expected to lose market share, analysts said.
