UnitedHealth faces DOJ investigation into Medicare billing practices
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NBC News
25 minutes ago
- NBC News
NFL will fine more than 100 players for reselling Super Bowl tickets at a profit
The NFL is cracking down on the resale of Super Bowl tickets by players, coaches and club employees. The league plans to fine more than 100 players and roughly two dozen club employees who were found to be in violation of the NFL's Ticket Resale policy in connection with Super Bowl 59 tickets, according to an internal memo from the league's chief compliance officer, Sabrina Perel, that was viewed by CNBC. An investigation found that those players and personnel were selling these tickets to resale 'bundlers' at a profit, according to the memo. Players will be fined 1.5-times the face value of the tickets they sold, and employees will be fined twice the face value, according to a person familiar with the matter who declined to be named speaking about nonpublic details. Non-player personnel found in violation of the policy will also lose the ability to purchase future NFL tickets, according to the memo. The league prohibits employees and players from selling NFL game tickets acquired from their employer for more than the ticket's face value or more than the employee originally paid — whichever is less. The league is also taking steps to enhance compliance training ahead of Super Bowl 60 and said it will increase penalties for future offenses. 'No one should profit personally from their NFL affiliation at the expense of our fans,' Perel wrote in the memo.
Yahoo
an hour ago
- Yahoo
Centene raises Wall Street optimism that Medicaid insurers can improve profits
By Amina Niasse NEW YORK (Reuters) -Wall Street regained confidence in Medicaid insurers after Centene said on Friday it expects to be able to raise rates charged to states for 2026 health plans for low-income Americans and strengthen profit margins. Insurer shares rose across the board. Centene shares were up 5% in early afternoon trading after falling 16% on the company's announcement of a second-quarter loss and forecast cut. Rivals UnitedHealth, CVS Health and Humana rose 1.61%, 2.69% and 3.45%, respectively. All three report earnings next week. Centene in an earnings call reassured investors it would work with states to ensure their payments for Medicaid plans match the company's increased medical costs for 2026. 'Our goal is to reprice 100%' of plans, said company CEO Sarah London. Insurers are paid a set amount by states for Medicaid plans, which are jointly funded with the federal government. Centene, UnitedHealth and Elevance have said this year that state reimbursements for these plans have lagged behind actual costs of care. Cautious investors have been looking for Medicaid health plan design changes and strategic geographic changes by the companies to reduce use of healthcare services. New work requirements for Medicaid recipients in President Donald Trump's signature tax-cut and spending bill have made some investors worry that healthy people could disenroll in coming years. The bill requires states to verify certain members are working or volunteering a minimum of 80 hours per month to qualify for Medicaid coverage starting in 2027. After a COVID-19 era requirement to keep people enrolled expired in 2023, Medicaid plans redetermined each person's eligibility. This pushed members off, changing the mix of sick and healthy participants, and some Medicaid insurers struggled. 'The Medicaid redeterminations have proven to be far more disruptive than anyone thought," said Jeff Jonas, a portfolio manager at Gabelli Funds. "The entire industry is focused on restoring margin over winning new contracts and membership." More detailed data could justify midyear price increases, said Kevin Gade, chief operating officer at Bahl & Gaynor, and correct mismatched rates set by states after the pandemic. More data over the next year will also enable insurers to improve cost management techniques and raise rates paid by states, Gade said. "With enough data you can take care of the problem.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
an hour ago
- CNBC
NFL will fine more than 100 players for reselling Super Bowl tickets at a profit
The NFL is cracking down on the resale of Super Bowl tickets by players, coaches and club employees. The league plans to fine more than 100 players and roughly two dozen club employees who were found to be in violation of the NFL's Ticket Resale policy in connection with Super Bowl 59 tickets, according to an internal memo from the league's chief compliance officer, Sabrina Perel, that was viewed by CNBC. An investigation found that those players and personnel were selling these tickets to resale "bundlers" at a profit, according to the memo. Players will be fined 1.5-times the face value of the tickets they sold, and employees will be fined twice the face value, according to a person familiar with the matter who declined to be named speaking about nonpublic details. Non-player personnel found in violation of the policy will also lose the ability to purchase future NFL tickets, according to the memo. The league prohibits employees and players from selling NFL game tickets acquired from their employer for more than the ticket's face value or more than the employee originally paid — whichever is less. The league is also taking steps to enhance compliance training ahead of Super Bowl 60 and said it will increase penalties for future offenses. "No one should profit personally from their NFL affiliation at the expense of our fans," Perel wrote in the memo.
