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NEWS
May 4, 2007
The Sun advocated cutbacks in the Medicare Advantage program without considering the extra financial and health care benefits, including disease management and preventive care, the program offers to the more than 8 million seniors enrolled in Medicare Advantage plans ("A course correction," editorial, April 27). Seniors enrolled in Medical Advantage save, on average, $1,032 per year in better benefits and lower out-of-pocket expenses compared with patients in traditional Medicare plans.
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BUSINESS
By Laura Barnhardt Cech, For The Baltimore Sun | April 19, 2014
Donna Schramek is looking forward to retirement on the Eastern Shore. She loves the smell of the ocean, walking on the beach, and spending time with her grandchildren. That's why the 64-year-old Brooklyn Park administrative coordinator at Medstar Health didn't hesitate to have arthroscopic knee surgery last month. The pain "was making me feel old," says Schramek, who plans to retire in the next two years. "It was limiting me. " Health is an important consideration as workers near retirement.
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HEALTH
By Meredith Cohn, The Baltimore Sun | January 31, 2012
Connecticut-based Cigna Corp. said Tuesday that it has closed on its $3.8 billion acquisition of HealthSpring Inc., a health care company that specializes in the Medicare Advantage market. HealthSpring bought Baltimore-based Bravo Health last year for $545 million and employs about 700 people in the area. A spokeswoman said she didn't believe there would be significant cuts because Cigna doesn't have a big role in the Medicare Advantage market now. "We expect the workforce to remain in the market because Cigna has a limited presence in the market, pretty much just in Phoenix," said Graham Harrison, the HealthSpring spokeswoman.
HEALTH
By Meredith Cohn, The Baltimore Sun | January 31, 2012
Connecticut-based Cigna Corp. said Tuesday that it has closed on its $3.8 billion acquisition of HealthSpring Inc., a health care company that specializes in the Medicare Advantage market. HealthSpring bought Baltimore-based Bravo Health last year for $545 million and employs about 700 people in the area. A spokeswoman said she didn't believe there would be significant cuts because Cigna doesn't have a big role in the Medicare Advantage market now. "We expect the workforce to remain in the market because Cigna has a limited presence in the market, pretty much just in Phoenix," said Graham Harrison, the HealthSpring spokeswoman.
BUSINESS
Jay Hancock | December 17, 2011
If you want to understand a major reason medical costs are out of control, breaking the federal budget and dividing the country, look at the types of people enrolled in XLHealth's Medicare insurance plans. Most suffer from diabetes, congestive heart failure or other long-term illness. They're like the millions of chronically ill Americans who visit doctors half a dozen times a year or more and, by some measures, account for 80 percent or more of all spending by the Medicare program for senior citizens.
HEALTH
By Lorraine Mirabella, The Baltimore Sun | November 30, 2010
Nashville-based HealthSpring Inc. said Tuesday it has finalized its planned $545 million cash acquisition of Bravo Health Inc., a Baltimore-based operator of Medicare Advantage health plans. The sale was funded by cash and debt through a revolving credit and new term loan facility, HealthSpring officials said. Jeffrey Folick, chairman and chief executive officer of Bravo Health since 2006, has joined HealthSpring's board of directors, the announcement said. HealthSpring owns and operates Medicare Advantage plans in Alabama, Delaware, Florida, Georgia, Illinois, Maryland, Mississippi, New Jersey, Pennsylvania, Tennessee, Texas and Washington, D.C., and also offers a national stand-alone Medicare prescription drug plan.
HEALTH
By Scott Calvert, The Baltimore Sun | August 27, 2010
Bravo Health Inc., a fast-growing yet little-known Baltimore insurance company that operates Medicare Advantage health plans, will be acquired by Tennessee-based HealthSpring Inc. for $545 million, the two companies announced Friday. Privately held Bravo employs about 650 people at its Brewers Hill headquarters, ranking it No. 32 in terms of staff size among private city employers, based on a list compiled by Baltimore's economic development arm. "This is a good news-bad news story," said Richard Clinch, director of economic research at the University of Baltimore's Jacob France Institute.
HEALTH
By Meredith Cohn, The Baltimore Sun | November 22, 2011
The health insurance giant UnitedHealthcare plans to acquire Baltimore-based XLHealth Corp., bolstering the company's portfolio of Medicare Advantage plans. The plans focus on Medicare recipients with chronic illnesses or other special needs. XLHealth's Care Improvement Plus plan focuses on the underserved. XLHealth, currently owned by management and affiliates of MatlinPatterson Global Opportunities Partners III LP, now serves about 113,000 Medicare Advantage members in Maryland and five other states and plans to expand to six more states next year.
NEWS
By Christi Parsons and Andrew Zajac and Christi Parsons and Andrew Zajac,Tribune Newspapers | August 19, 2009
WASHINGTON - -With the wildfire over so-called "death panels" still smoldering, President Barack Obama faces what could become another emotion-charged obstacle to his vision of overhauling health care - his plan to trim the federal subsidy for a program called Medicare Advantage. The program pays insurance companies a hefty premium above traditional Medicare reimbursements for enrolling senior citizens in managed care. But whether the higher payments are worth the cost is a matter of dispute.
HEALTH
August 27, 2010
(Reuters) Managed care company HealthSpring Inc said it agreed to acquire privately held, Baltimore-based Bravo Health Inc, an operator of Medicare plans, for $545 million to expand into the Philadelphia market. The deal, which is expected to close before the year-end, will add 45-55 cents to HealthSpring's 2011 earnings per share, the company said in a statement. Expenses related to the deal will impact 2010 earnings by about 20 cents, it added. The transaction will be financed through cash and debt under an amended revolving credit facility and new term loans, the company said.
BUSINESS
Jay Hancock | December 17, 2011
If you want to understand a major reason medical costs are out of control, breaking the federal budget and dividing the country, look at the types of people enrolled in XLHealth's Medicare insurance plans. Most suffer from diabetes, congestive heart failure or other long-term illness. They're like the millions of chronically ill Americans who visit doctors half a dozen times a year or more and, by some measures, account for 80 percent or more of all spending by the Medicare program for senior citizens.
HEALTH
By Meredith Cohn, The Baltimore Sun | November 22, 2011
The health insurance giant UnitedHealthcare plans to acquire Baltimore-based XLHealth Corp., bolstering the company's portfolio of Medicare Advantage plans. The plans focus on Medicare recipients with chronic illnesses or other special needs. XLHealth's Care Improvement Plus plan focuses on the underserved. XLHealth, currently owned by management and affiliates of MatlinPatterson Global Opportunities Partners III LP, now serves about 113,000 Medicare Advantage members in Maryland and five other states and plans to expand to six more states next year.
HEALTH
By Lorraine Mirabella, The Baltimore Sun | November 30, 2010
Nashville-based HealthSpring Inc. said Tuesday it has finalized its planned $545 million cash acquisition of Bravo Health Inc., a Baltimore-based operator of Medicare Advantage health plans. The sale was funded by cash and debt through a revolving credit and new term loan facility, HealthSpring officials said. Jeffrey Folick, chairman and chief executive officer of Bravo Health since 2006, has joined HealthSpring's board of directors, the announcement said. HealthSpring owns and operates Medicare Advantage plans in Alabama, Delaware, Florida, Georgia, Illinois, Maryland, Mississippi, New Jersey, Pennsylvania, Tennessee, Texas and Washington, D.C., and also offers a national stand-alone Medicare prescription drug plan.
NEWS
By Larry Carson, The Baltimore Sun | September 12, 2010
National health care reform will help seniors on Medicare as well as millions of uninsured Americans, Maryland U.S. Sen. Benjamin L. Cardin told a receptive crowd of more than 100 people at the Vantage House retirement community in Columbia. "We're sort of following Howard County on the national level," Cardin said at the start of his visit Wednesday, referring to the county's health access plan for the uninsured. But although he, like many in the audience, feel the law passed by Congress and signed by President Barack Obama is lacking in some respects, "I'm a supporter.
HEALTH
August 27, 2010
(Reuters) Managed care company HealthSpring Inc said it agreed to acquire privately held, Baltimore-based Bravo Health Inc, an operator of Medicare plans, for $545 million to expand into the Philadelphia market. The deal, which is expected to close before the year-end, will add 45-55 cents to HealthSpring's 2011 earnings per share, the company said in a statement. Expenses related to the deal will impact 2010 earnings by about 20 cents, it added. The transaction will be financed through cash and debt under an amended revolving credit facility and new term loans, the company said.
HEALTH
By Scott Calvert, The Baltimore Sun | August 27, 2010
Bravo Health Inc., a fast-growing yet little-known Baltimore insurance company that operates Medicare Advantage health plans, will be acquired by Tennessee-based HealthSpring Inc. for $545 million, the two companies announced Friday. Privately held Bravo employs about 650 people at its Brewers Hill headquarters, ranking it No. 32 in terms of staff size among private city employers, based on a list compiled by Baltimore's economic development arm. "This is a good news-bad news story," said Richard Clinch, director of economic research at the University of Baltimore's Jacob France Institute.
NEWS
By Larry Carson, The Baltimore Sun | September 12, 2010
National health care reform will help seniors on Medicare as well as millions of uninsured Americans, Maryland U.S. Sen. Benjamin L. Cardin told a receptive crowd of more than 100 people at the Vantage House retirement community in Columbia. "We're sort of following Howard County on the national level," Cardin said at the start of his visit Wednesday, referring to the county's health access plan for the uninsured. But although he, like many in the audience, feel the law passed by Congress and signed by President Barack Obama is lacking in some respects, "I'm a supporter.
NEWS
By Matt Patterson | November 20, 2009
Just before Halloween, House Speaker Nancy Pelosi unveiled her latest Obamacare proposal: H.R. 3962, a 2,000-page legislative monster. On Nov. 7, the bill narrowly passed in the House by a vote of 220 to 215. If enacted into law, Ms. Pelosi's creation would do the following: Raise taxes. The Wall Street Journal calls H.R. 3962 the "Worst Bill Ever" in part because of "$572 billion in new taxes," including an income tax "surcharge" that despite being advertised as only affecting the rich would actually be devastating to small-business owners.
NEWS
By Kathleen Parker | March 11, 2010
S kipping through the Candy Land of the health care bill, one is tempted to hum a few bars of "Let Me Call You Sweetheart." What a deal. For deal-makers, that is. Not so much for American taxpayers, who have been misled into thinking that the sweetheart deals have been excised. Not only are the deals still there, but they're bigger. And the health care "reform" bill is, consequently, more expensive by billions. Yes, gone (sort of) is the so-called "Cornhusker kickback," extended to Nebraska Sen. Ben Nelson when his 60th vote needed a bit of coaxing.
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