A single bungled phone call cost one of the largest U.S. health insurance companies $190 million, the company is arguing in a lawsuit that highlights how dependent health insurers have become on government programs.
In a meeting with Business Report staff Friday, executives from Blue Cross and Blue Shield of Louisiana and Elevance Health made their case for the proposed sale of the former to the latter.
Shares of Humana fell nearly 12% and its managed-care competitors also dropped Thursday after the Medicare-focused insurer warned that medical costs were running higher than expected and signaled that the pressure might impact its 2024 results as well.