Tag Archives: TRICARE

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UnitedHealth Group Reports First Quarter Results

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By Business Wirevia The Motley Fool

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UnitedHealth Group Reports First Quarter Results


  • Quarterly Revenues Exceeded $30 Billion, Increasing 11% Year-Over-Year

  • Optum Revenues of $8.4 Billion Grew 15%; Optum Operating Earnings Grew 96% Year-Over-Year

  • UnitedHealthcare Grew to Serve 1.1 Million More People in the First Quarter

  • TRICARE Contract Implemented April 1, 2013, Adding 2.9 Million Military Market Beneficiaries

MINNETONKA, Minn.–(BUSINESS WIRE)– UnitedHealth Group (NYS: UNH) today reported first quarter results, highlighted by strong enrollment growth in each of UnitedHealthcare’s benefits businesses combined with well-diversified revenue growth and broad-based margin expansion at Optum. First quarter 2013 net earnings were $1.16 per common share. Overall results, led by Optum’s performance, were strong across the enterprise, with year-over-year reimbursement and seasonal margin pressure in UnitedHealthcare’s Medicare Advantage and Part D prescription drug plan product lines, as expected. Two of this year’s early highlights have been UnitedHealthcare’s implementation of the new TRICARE military health care award beginning April 1 and the successful movement of the first 3 million new and migrating UnitedHealthcare commercial consumers to pharmacy benefit manager OptumRx.

Stephen J. Hemsley, president and chief executive officer of UnitedHealth Group, said, “This quarter provided a solid start to 2013 across our diversified health care businesses. UnitedHealthcare is achieving market-leading growth in health benefits, now including Amil and TRICARE, and is positioned to achieve one of its strongest-ever growth years. Looking forward, innovation and continuing discipline in advancing consistent care quality and medical and operating cost management will be critical to fulfilling the market‘s demands for greater

From: http://www.dailyfinance.com/2013/04/18/unitedhealth-group-reports-first-quarter-results/

Business, Finance, Occupation & Industry

Health Net Statement on State and Federal Agencies Signing Memorandum of Understanding for Californi

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By Business Wirevia The Motley Fool

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Health Net Statement on State and Federal Agencies Signing Memorandum of Understanding for California’s Duals Demonstration Program

From Jay Gellert, president and CEO of Health Net, Inc.

LOS ANGELES–(BUSINESS WIRE)– Today, the Centers for Medicare & Medicaid Services (CMS) and the California Department of Health Care Services (DHCS) moved one step closer to implementing the duals demonstration portion of California’s Coordinated Care Initiative, known as Cal MediConnect, by signing a Memorandum of Understanding (MOU) that establishes the framework of the program. The three-year health care coverage program, which is available to beneficiaries who are fully eligible for both the Medicare and Medi-Cal programs (dual eligibles), is scheduled to begin no earlier than October 2013, based on the DHCS‘ current timetable. These federal and state government agencies designed the demonstration to help improve care coordination and health outcomes for the state’s dual eligibles.

The following statement is from Jay Gellert, president and chief executive officer of Health Net, Inc. (NYS: HNT) :

“Health Net commends CMS and DHCS for taking a step forward to help provide more integrated care for those who are fully eligible for both the Medicare and Medi-Cal programs and have historically been challenged by what can be a fragmented and confusing care system.

“Health Net has long served both Medicare and Medi-Cal beneficiaries in California, and we are pleased to have been selected to participate in the duals demonstration in Los Angeles and San Diego counties.

“We look forward to working to provide dual eligibles with a patient-centered, readily accessible, coordinated and culturally sensitive system that helps improve the quality of their health care.

“In the coming weeks, Health Net will be working with CMS and DHCS to demonstrate our readiness to commence the program.”

About Health Net

Health Net, Inc. is a publicly traded managed care organization that delivers managed health care services through health plans and government-sponsored managed care plans. Its mission is to help people be healthy, secure and comfortable. Health Net provides and administers health benefits to approximately 5.4 million individuals across the country through group, individual, Medicare (including the Medicare prescription drug benefit commonly referred to as “Part D”), Medicaid, Department of Defense, including TRICARE, and Veterans Affairs programs. Through its subsidiaries, Health …read more
Source: FULL ARTICLE at DailyFinance

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UnitedHealthcare Announces 230 New Jobs in Colorado Springs

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By Business Wirevia The Motley Fool

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UnitedHealthcare Announces 230 New Jobs in Colorado Springs

  • New jobs will serve U.S. Defense Department’s TRICARE program, support nearly 3 million service members, veterans and their families – including about 250,000 Coloradoans
  • Brings UnitedHealth Group’s Colorado workforce to more than 1,500

COLORADO SPRINGS, Colo.–(BUSINESS WIRE)– UnitedHealthcare, a UnitedHealth Group (NYS: UNH) company, today announced the creation of 230 new jobs in Colorado Springs, expanding its already significant presence in Colorado.

UnitedHealthcare Military & Veterans will become the Managed Care Support Contractor for the West Region of the U.S. Defense Department’s TRICARE program on April 1, 2013. The new Colorado Springs Beneficiary and Provider Service Center will be the primary telephone customer service center for nearly 3 million TRICARE beneficiaries and their health care providers in the West Region.

As the managed care support contractor for the TRICARE West region, UnitedHealthcare will provide managed care for service members, retirees and their families in 21 Western states: Alaska, Arizona, California, Colorado, Hawaii, Idaho, Iowa (excluding Rock Island Arsenal area), Kansas, Minnesota, Missouri (excluding the St. Louis area), Montana, Nebraska, Nevada, New Mexico, North Dakota, Oregon, South Dakota, portions of Texas (including El Paso), Utah, Washington and Wyoming.

“Colorado is a state with a dynamic workforce and leaders who have developed a business-friendly environment,” said Stephen J. Hemsley, President and CEO of UnitedHealth Group. “The people of Colorado Springs have a profound appreciation of the military, and we are eager to have them be a part of our work.”

“In Colorado we’ve made caring for our veterans a top priority, including in Colorado Springs where the community has come together to stand up for those who have stood for us,” Colorado U.S. Senator Michael Bennet said. “It’s appropriate that these jobs designed to help deliver health care to veterans are coming to the state. We welcome UnitedHealthcare and these new jobs and look forward to working with them to ensure that our veterans have efficient access to quality care.”

The Colorado Springs area is the home of U.S. Army Base Fort Carson, Peterson Air Force Base, Buckley Air Force Base, Schriever Air Force Base and …read more
Source: FULL ARTICLE at DailyFinance