Latest California Healthline Stories
Humana Says Rising Rx Prices Will Hurt Earnings
Humana lowered its earnings estimate for the year, attributing the reduction to rising medication costs and an underestimate of how many Medicare beneficiaries with serious health problems would enroll in its plans. The insurer is the second-largest seller of Medicare drug benefit plans. Bloomberg/Los Angeles Times.
Proposed Medi-Cal Pay Cuts Drawing Opposition in San Joaquin County
Health care providers worry that Gov. Schwarzenegger’s proposed cuts in Medi-Cal payments will compromise care for many Hispanic residents, especially if doctors stop participating in the program. More than 40% of San Joaquin County’s Medi-Cal population is Hispanic. Stockton Record.
State Measure Opens Up Lower-Interest Financing to California Hospitals
Six hospitals and hospital systems will refinance about $4.6 billion in debt under an emergency measure approved by a state agency to help health care facilities avoid increasing interest rates in some segments of the bond market. Sacramento Bee, Office of the Treasurer release.
Small-Business Group Touts Insurance Pools To Cut Risk
The National Federation of Independent Business on Wednesday released a proposal it hopes will lower health care costs for small businesses by increasing access to health insurance pools. The group opposes government-mandated health insurance. American Public Media’s “Marketplace Morning Report.”
Federal Government Says SCHIP Enrollment Up in 2007
On Wednesday, HHS Secretary Mike Leavitt said that enrollment in the State Children’s Health Insurance Program increased by almost 6% from fiscal year 2006 to FY 2007. CMS data show that about 7.1 million children were enrolled in the program at some point in the year. CMS release.
Baby Boomers Hesitant Over Long-Term Care Insurance
Many baby boomers wonder if purchasing a long-term care insurance policy is worthwhile, and many falsely believe that Medicare will cover long-term care costs. A University of Southern Maine study found that the policies make sense for certain segments of the population. NPR’s “Morning Edition.”
Report Finds Slowdown in Growth of U.S. Drug Sales
Sales of prescription drugs increased by only 3.8% in 2007, the lowest growth rate for the pharmaceutical industry since 1961, according to a new IMS Health report. A slowdown in new product approvals contributed to the lower growth rate. AP/Houston Chronicle.
California Agency Developing Medication Disposal Program
Gov. Schwarzenegger signed legislation last year that requires the state to test a program that will collect unused and expired medications. Concerns about the pills contaminating the water supply have prompted a change in recommendations for proper disposal. Contra Costa Times.
Emergency Program Lowers Hospitals’ Interest Rates
Treasurer Bill Lockyer (D) has developed an emergency plan that will offer lower interest rates to hospitals that have seen bond payments rise as a result of the subprime mortgage crisis. The California Health Facilities Financing Authority has approved the program for six hospitals that plan to refinance a total of more than $4.5 billion in debt. Capital Public Radio’s “KXJZ News.”
Planned Parenthood Official Denies Overcharging Claims
Kathy Kneer, president and CEO of Planned Parenthood Affiliates of California, called allegations in a whistle-blower lawsuit made public last week that the group overcharged California and the federal government by at least $180 million for birth control pills “completely false.” Los Angeles Times.