Latest California Healthline Stories
California Hospital News Roundup for the Week of February 6, 2009
San Diego County officials plan to begin moving patients from Edgemoor Geriatric Hospital in Santee to a replacement facility in the coming weeks. Meanwhile, St. Joseph Health System in Orange was set to start another round of layoffs on Feb. 5.
Senate Democrats Push for Action on Health Care Reform
In a letter to President Obama, Sens. Max Baucus and Ted Kennedy voiced support for pursuing legislation in 2009 to overhaul the U.S. health care system, despite the withdrawal of former Senate Majority Leader Tom Daschle to lead HHS. Wall Street Journal‘s “Washington Wire,” The Hill.
Columnist Touts Plan To Fund Health Care for Unemployed
San Jose Mercury News columnist Mike Cassidy argues that a provision in the economic stimulus package that would allocate funding “to provide health care for the millions who are losing their jobs in the downturn” is “a chance to help sick people who otherwise couldn’t afford help.” He adds, “Most important in the world of stimulus, expanding the health safety net would be an opportunity to provide a big boost to the economy.” San Jose Mercury News.
Rite Aid To Sell 7 San Francisco Stores to Walgreens
On Thursday, Rite Aid announced that it has signed an agreement to sell seven San Francisco Rite Aid stores to Walgreens. The transaction is expected to be completed by the end of next month, according to the company. San Francisco Business Times.
Insured Cancer Patients Still Face Financial Problems
Cancer patients with private health insurance still face significant challenges paying for their treatments, according to a report released Thursday by the American Cancer Society and the Kaiser Family Foundation. The study found that high out-of-pocket costs, cost-sharing requirements, benefit caps and lifetime maximums on some policies can contribute to financial problems. San Francisco Chronicle.
Health Care Stocks Weathering Recession Better Than Others
On average, shares of health care companies have posted smaller losses than other sectors of the economy, with the exception of consumer staples. Even so, investment fund managers are warning that there are wide variations within the health care sector. AP/San Francisco Chronicle.
California Democrats Fault Republicans for Budget Stance
Democratic legislators in California are pointing to state data indicating that Republican lawmakers’ districts receive far more state funding for health care and other services than the districts pay in taxes. Democrats say Republicans’ “cuts-only” budget proposal would hurt their own constituents. San Francisco Chronicle.
Cigna’s Adjusted Q4 Profit Beats Analysts’ Estimates
On Thursday, Cigna reported a fourth-quarter loss of $209 million, or 77 cents per share, compared with earnings of $263 million, or 93 cents per share, a year earlier. However, the company also reported an adjusted profit — excluding certain one-time items — of 49 cents per share. Analysts, who typically exclude one-time items from their estimates, had predicted a Cigna profit of 41 cents per share. Los Angeles Times.
Number of Military Suicides in January Could Be All-Time High
Veterans advocates voiced concern about mental health care for veterans after the U.S. Army released a report showing that the number of suicides in January could be the highest on record. Some veterans’ deaths are still being investigated. New York Times et al.
Obama Reverses Bush Order on Eligibility for Kids Health Insurance
President Obama lifted Bush administration policy directives that imposed restrictions on states that wished to expand eligibility for coverage under the State Children’s Health Insurance Program to kids in higher income families. AP/Philadelphia Inquirer et al.