While lawsuits continue to be filed against companies alleging their management of forfeited funds in 401(k) plans violates their duties under the Employee Retirement Income Security Act, another company has reached a settlement agreement. The Cigna Group is the latest company to face a lawsuit over its treatment of forfeitures. Meanwhile, software company Intuit Inc. has reached a settlement after the court had allowed the case to continue in 2024.
After Donald Trump signed an executive order slashing drug prices last week, experts have highlighted how PBMs could be hit the hardest despite pharmaceutical companies facing the potential of compressed margins amid poor pricing power.
After Arkansas Blue Cross & Blue Shield's worst financial loss ever and forecasts of more red ink this year, President and CEO Curtis Barnett is facing an inflection point in the health industry head-on. ABCBS has been a mainstay in Arkansas health care for 77 years. After a $226.2 million loss in 2024, Barnett is expecting a smaller loss in 2025.
A new study released by the KFF Foundation claims that Blue Cross and Blue Shield of Alabama, denies in-network claims for a specific plan offered through the ACA, at the highest rate in the country. The study of data submitted by insurers to the federal government for the year 2023 found BCBS of Alabama denied 35% of in-network claims, 2% more than United Health Group, and almost double the national average of 19% for insurers offering the same ACA.
A federal judge on Friday indefinitely blocked the Trump administration from pulling back more than $11 billion in public health funding from state and local health departments. The ruling from Judge Mary McElroy of the U.S. District Court for the District of Rhode Island extends a temporary restraining order she issued in April that stopped the administration from wiping out the pandemic-era funding to a group of 23 Democratic-led states and the District of Columbia.
State officials are poised to legally exceed Connecticut's spending cap for the first time in nearly two decades to avert a crisis in paying Medicaid bills — and to pave the way for a new two-year budget. Both Gov. Ned Lamont's administration and House Speaker Matt Ritter, D-Hartford, confirmed a tentative understanding to resolve the Medicaid shortfall expected to approach or exceed $300 million this fiscal year.