Morning Briefing
Summaries of health policy coverage from major news organizations
WellPoint, Aetna Raise 2014 Forecasts
WellPoint Inc. on Wednesday morning became the latest health insurer to raise its outlook after posting higher-than-expected quarterly earnings. The company, which touted its growing membership base, said it now expects to post earnings of $8.75 to $8.85 a share this year, up from its prior call of more than $8.60 a share. (Calia, 10/28)
The insurer has posted higher membership and revenue of late. But medical costs also have increased, although it has categorized that trend as moderate. New treatments for hepatitis C have been among the biggest pressures on results, along with the company鈥檚 individual book of business. (Wilde Mathews and Calia, 10/28)
Aetna became the latest major health insurer to thump third-quarter expectations and raise its 2014 forecast, but the company鈥檚 shares slipped Tuesday after it also said expenses climbed more than expected for part of its enrollment. The nation鈥檚 third-largest health insurer said that medical costs for some of its small-business coverage came in higher than projected, and benefit and network changes that it had made to help control those expenses hadn鈥檛 worked as expected. (10/28)
HCA Holdings Inc. said its third-quarter earnings rose 42% as the hospital operator continued to benefit from a rebound in admissions and benefits from the U.S. health-care policy overhaul. The company鈥檚 board authorized the repurchase of as much as $1 billion of HCA鈥檚 shares. (Stynes, 10/28)