NEWS
By David L. Greene and David L. Greene,SUN NATIONAL STAFF | February 21, 2004
WASHINGTON - President Bush said yesterday that he would nominate Dr. Mark McClellan, head of the Food and Drug Administration, to take over as administrator of the Woodlawn agency that oversees the Medicare and Medicaid programs. If confirmed by the Senate, McClellan, 40, will be taking charge of the Centers for Medicare and Medicaid Services as Bush's prescription-drug plan for seniors is implemented. Bush's plan to add drug coverage to Medicare, which won approval in Congress over Democratic objections, is expected to be hotly debated in the presidential campaign.
BUSINESS
By M. William Salganik and M. William Salganik,SUN STAFF | March 2, 2001
With continued losses in Medicare, Medicaid and its FreeState HMO, CareFirst BlueCross BlueShield reported reduced earnings yesterday for the fourth quarter and flat earnings for the year. The insurer has gotten out of Medicare and is completing a pullout from Medicaid, after booking $18.7 million in losses last year on the two government programs. CareFirst is looking to restructure FreeState and will be seeking approval from regulators to combine FreeState with its successful CapitalCare HMO. "Because of the difficult decisions we were obligated to make due to revenue shortfalls, CareFirst is now poised for a successful year in 2001," William L. Jews, CareFirst's president and chief executive officer, said in a statement accompanying the earnings release.
BUSINESS
By M. William Salganik and M. William Salganik,SUN STAFF | September 29, 1998
Three HMOs have cut back participation in a state program covering people eligible for both Medicare and Medicaid after the state health department reduced premium rates and demanded reimbursement of overpayments.Joseph M. Millstone, director of the Medical Care Policy Administration for the health department, said Prudential HealthCare and United HealthCare will end their participation tomorrow. FreeState Health Plan will continue for another month in Baltimore City and Baltimore County only, while it evaluates whether to continue.
BUSINESS
By M. William Salganik and M. William Salganik,SUN STAFF | August 14, 1999
Reflecting losses in its Medicare and Medicaid managed care programs, CareFirst BlueCross BlueShield reported yesterday a 5.8 percent drop in second-quarter income to $20.5 million, compared with $21.7 million a year ago.Margins from commercial insurance products were "flat to slightly up," said G. Mark Chaney, executive vice president and chief financial officer for CareFirst, which operates the Maryland and District of Columbia Blue Cross Blue Shield plans.However,...
BUSINESS
By M. William Salganik and M. William Salganik,SUN STAFF | August 16, 2001
CareFirst BlueCross Blue- Shield, the state's largest health insurer, reported yesterday that profit in its second quarter jumped 31.9 percent, an improvement it credited largely to its exit from the Medicare and Medicaid HMO business. The insurer said its operating profit for the three months that ended June 30 was $22.2 million, compared with $16.8 million in the second quarter of 2000. Its Medicare and Medicaid HMOs together accounted for $3.8 million in losses during last year's second quarter.
NEWS
By Karen Hosler and Karen Hosler,SUN NATIONAL STAFF | May 2, 1997
WASHINGTON -- Concluding months of negotiations and a two-year standoff, President Clinton and Republican leaders in Congress agreed yesterday on the outlines of a five-year plan to balance the federal budget for the first time since 1969.Details were in flux last night. But the major planks of the accord are in place, and a formal announcement of the deal could be made as early as today.The plan calls for both Republican tax cuts and some new social spending demanded by Clinton. Savings would come mostly from slowing the growth of Medicare and Medicaid, extending the airline-ticket tax and other levies, and using more optimistic economic projections than Republicans have accepted in the past.