Latest Insurance industry News
AP FACT CHECK: Trump’s false push on preexisting conditions
WASHINGTON (AP) — President Donald Trump is teasing the possibility of executive action to require health insurance companies to cover preexisting medical conditions, something that he says “has never been done before.” It’s been done before. People with such medical problems have...
CVS posts strong 2Q, with virus delaying elective procedures
CVS Health reported surprisingly strong second-quarter earnings as people postponed elective medical procedures during the COVID-19 pandemic, and it raised its profit expectations for the year. The postponed procedures led to lower benefit costs for the company's Aetna insurance arm, a main reason net income...
Insurer Anthem's 2Q profit swells, helped by drop in claims
INDIANAPOLIS (AP) — Anthem’s second-quarter profit doubled to nearly $2.3 billion, as a pandemic-induced drop in claims and a new business pushed the Blue Cross-Blue Shield insurer’s earnings past expectations. The insurer’s stock jumped 6% at the start of trading Wednesday, erasing...
Struggling merchants, insurers battle over pandemic coverage
Restaurants, bars and other merchants struggling to stay afloat during the coronavirus pandemic are desperately reaching out for a lifeline from insurers that in turn contend they are being miscast as potential saviors. Shutdowns and crowd restrictions imposed by state and local governments to limit the spread of...
Dem AGs sue to stop rule revoking transgender protections
NEW YORK (AP) — A coalition of Democratic state attorneys general sued the Trump Administration on Monday, seeking to block next month’s implementation of a rule overturning Obama-era protections for transgender people against sex discrimination in health care. New York Attorney General Letitia...
Mutual of Omaha insurance firm removing longtime Indian logo
OMAHA, Neb. (AP) — Mutual of Omaha plans to replace its longtime corporate logo, which for 70 years has featured a depiction of a Native American chief, the insurance company announced Friday. The move comes as corporations and sports teams around the country face increasing pressure to dump nicknames and...
With elective procedures delayed, UnitedHealth profit spikes
The nation’s largest health insurer more than doubled its second-quarter profit, as COVID-19 shutdowns kept patients out of doctor’s offices and off operating tables. UnitedHealth’s medical costs tumbled 11% to $34.68 billion with demand for care suppressed from the middle of March until it...
COVID-19 heroes must jump through hoops for workers' comp
WASHINGTON (AP) — Lauded for their service and hailed as everyday heroes, essential workers who get the coronavirus on the job have no guarantee in most states they'll qualify for workers' compensation to cover lost wages and medical care. Fewer than one-third of the states have enacted policies that shift...
Judge tosses Trump rule on billing for abortion coverage
WASHINGTON (AP) — A federal judge in Baltimore on Friday struck down a Trump administration rule that abortion rights advocates called a maneuver to restrict access but officials defended as merely following the law. The decision by U.S. District Judge Catherine C. Blake affects women covered under the...
Allstate acquires National General for $4 billion in cash
SILVER SPRING, Md. (AP) — Allstate is buying National General Holdings for $4 billion in cash, expanding the scope of its insurance holdings. National General shareholders will get $32 per share that they hold, plus closing dividends of about $2.50 per share, for a total of about $34.50 each. National...
LOADING MORE STORIES
