Tesla CEO Elon Musk said the company will hold a shareholder vote to transfer its state of incorporation to Texas from Delaware, days after a judge invalidated his $56 billion pay package at the electric vehicle maker.
Medicare Advantage is causing huge losses for insurers like Humana, which recently reported a surprising loss, attributed to higher than anticipated spending in such plans. The company’s stock immediately fell 22% on Jan. 25 on the news, as the company disclosed their earnings would likely be less than half what had been widely expected.
Other Medicare Advantage insurers — including United Health Group and CVS Health — saw stock declines as the narrowing profit margins are causing a squeeze because of more spending on care for their Advantage patients. Humana forecast the losses continuing through 2025.
And that should scare you if you are in an Advantage plan.
Think about it logically. How will the insurers turn to recoup those margins? Most likely by raising costs for enrollees or by cutting services. And that will affect your care and your costs down the road. Not so far down the road.
I’ve written about the disadvantages of Advantage plans before. But this is not just a reminder; it’s an opportunity. There is a little-discussed open enrollment period for Medicare Advantage enrollees that lasts until March 31. Until then, you can switch back to traditional Medicare and purchase your supplement. Even the lowest-cost supplement might be better for your future health care prospects.
John Gerhold was appointed chief executive officer at HCA Florida Lake Monroe Hospital, Sanford.
Jessica Glover was appointed assistant vice president and chief operating officer at Orlando Health Dr. P. Phillips Hospital.
Dr. Bennett Scaglia, urologist, has joined AdventHealth Medical Group and will perform procedures at AdventHealth Daytona Beach and AdventHealth New Smyrna Beach, with a clinic location at the Port Orange Health Park.
Dr. Shawn Thomas, urologist, has joined AdventHealth Medical Group and will perform procedures at AdventHealth Daytona Beach and AdventHealth New Smyrna Beach, with a clinic location at the Port Orange Health Park.
Julianna Burchett has joined ShuffieldLowman as an attorney in the firm’s Orlando office.
Despina McLaughlin has joined the Dr. Phillips Center for the Performing Arts as director of Communications/PR.
Seminole State College of Florida Biology Professor Laila Nimri received the Association of Florida Colleges 2023 Professor of the Year award.
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Dealers expect new-vehicle sales to improve or stay about the same in 2024, though a majority are concerned about degradation in new-vehicle profit margins.
U.S. light-vehicle sales are projected to rise 2.7 to 8.3 percent in January, forecasters say, behind improving inventory and higher discounts.