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Stock Market & Financial Investment News

News Breaks
January 15, 2014
11:27 EDTCINew York AG says Cigna to pay $23K in claims settlement
New York Attorney General Eric Schneiderman announced that his office has reached a settlement with Cigna, requiring the health insurer to reprocess and pay hundreds of claims for nutritional counseling for mental health conditions, in particular eating disorders, to members it said were wrongfully denied those benefits. Pursuant to the settlement, Cigna has agreed to eliminate the three-visit cap for mental health conditions and to reprocess and pay members whose claims were denied due to the limit, totaling approximately $33,000. Cigna will also conduct in-service training for its claim and clinical review staff regarding the removal of visit limits for nutritional counseling prescribed for mental health disorders. Under the settlement, Cigna will also pay $23,000 to the OAG as a civil penalty.
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July 22, 2014
13:46 EDTCICourt upholds Obamacare subsidies, NY Times says
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10:43 EDTCIAppeals court bars subsidies in health care law
A three-judge panel of the D.C. Circuit Court of Appeals struck down part of President Obama's healthcare law by siding today with plaintiffs who argued that the law barred the government from giving subsidies to people in states that chose not to set up their own insurance marketplaces. The appeals court stated, "Because we conclude that the ACA unambiguously restricts the section 36B subsidy to insurance purchased on Exchanges 'established by the State,' we reverse the district court and vacate the IRSís regulation." Twenty-seven states decided against setting up marketplaces, and another nine states partially opted out, according to the Washington Post.
July 10, 2014
07:11 EDTCIAetna, WellPoint top large-cap Managed Care picks at Jefferies
Jefferies calls Aetna (AET) and WellPoint (WLP) its favorite large-cap picks in the Managed Care space, with Health Net (HNT) its favored name in the small to mid-cap space. The firm believes the market is already expecting strong Q2 results from the sector, and it downgraded UnitedHealth (UNH) to Hold from Buy on valuation and below-peer earnings growth. Jefferies has Buy ratings on Aetna, Health Net, Molina Healthcare (MOH) and WellPoint.
06:23 EDTCIHealth insurers moving away from fee for service model, NY Times reports
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