Alignment Healthcare Reports Growth In Members But Continued Losses
Alignment Healthcare will report 165,000 increased enrollment at its Q1 2024 investor call, but a loss from operations of $41.1 million. This still means the insurtech likely is on its way to profitability.
#alignmenthealthcare #medicareadvantage
Hospital Margins Dip In March, But Still Positive For Quarter
Hospitals’ margins and revenues took a dip in March, but they still had a strong Q1 2024.
#hospitals
Medicaid Disenrollments Exceed Forecasts In Eight States
A new study gives a good picture of Medicaid disenrollments with the return of redeterminations. The Robert Wood Johnson Foundation-funded Urban Institute report found Medicaid and Children’s Health Insurance Program (CHIP) enrollment declined by 9 million people from April through November 2023. This outcome is expected except that there is some variability between states. Eight states well exceeded forecasted disenrollments: Arkansas, Idaho, Iowa, Montana, New Hampshire, Oklahoma, South Dakota and Texas.
A Georgetown University study found that 4.16 million fewer children are enrolled in Medicaid and CHIP than before the pandemic (as of December 2023). It says many of these children are likely still eligible for Medicaid. About 50% of these losses are in four states: Texas (1 million) Florida, Georgia and California.
Additional article here:
https://www.beckerspayer.com/payer/medicaid-disenrollments-higher-than-expected-report.html
See today’s blog on the economics of Medicaid: https://www.healthcarelabyrinth.com/health-plan-economics-part-3-how-falling-medicaid-enrollment-is-impacting-health-plans-and-providers-alike/
#medicaid #redeterminations #coverage
Cigna Posts Q1 2024 Lost On Recognition Of Failed VillageMD Investment
Cigna’s Evernorth unit made a $2.5 billion investment in VillageMD for a minority share. Given the major financial woes of the primary care entity, Cigna has written down $1.8 billion of its stake in the company. This led to a loss for Q1 2024 of $277 million. Setting aside the writedown, Cigna still beat the street in terms of earnings for the quarter and is boosting its 2024 projections. It had a below 80% medical loss ratio, which bucks the industry trend. This is because Cigna’s MA portfolio is small and it has no Medicaid business. Cigna also reported that its proposed sale of its Medicare Advantage (MA) line of business to Health Care Service Corporation (HCSC) is proceeding.
Additional articles: https://www.modernhealthcare.com/insurance/cigna-medicare-advantage-sale-doj and https://www.healthcaredive.com/news/cigna-villagemd-writedown-walgreens-q1-2024/714966
(Some articles may require a subscription.)
#cigna #managedcare #healthplans #evernorth
https://www.fiercehealthcare.com/payers/cigna-posts-277m-loss-first-quarter-2024
— Marc S. Ryan
