Latest news with #medicalinsurance
New York Times
2 days ago
- Health
- New York Times
What to Know About Medical Insurance When Traveling Abroad
Travel insurance that covers the possibility of a hurricane may be a take-it-or-leave-it option for many people, but medical travel insurance is another story. In many cases, for Americans traveling abroad, it is — or should be — a must. Most U.S. health care plans do not insure you when you're traveling outside the country, making international travelers responsible for medical bills in the case of an emergency. A recent survey by the insurance agency eHealth found that 54 percent of respondents believed incorrectly that most health insurance plans help pay for care out of the country. After checking your plan to determine whether you are covered abroad, the following are considerations when purchasing travel medical insurance. There are two key benefits bundled in travel medical insurance policies. The first covers expenses such as emergency room treatments, hospitalization and medications. The second extends to medical evacuation to the nearest suitable medical facility or one in your home country. Angela Adto Tepper, a travel adviser with AZA Luxury Travel, based in Scarsdale, N.Y., counsels clients to look for plans with emergency coverage; evacuation and repatriation; pre-existing-condition waivers, if applicable; and a 24/7 assistance hotline. 'I always recommend travelers carry dedicated travel medical insurance, especially when heading to remote areas or places with less-developed health care,' Ms. Adto Tepper said. Want all of The Times? Subscribe.
Yahoo
3 days ago
- Business
- Yahoo
Health insurance companies have a problem — people are using their plans more
When medical insurance provider Centene (CNC) opened its books to investors on Friday, the company reported a surprising loss and an uptick in usage. The latter is a broader problem for the industry. In the second quarter, Centene reported an adjusted loss of $79 million and a "health benefits ratio" of 93%. Its benefits ratio, or the amount of its revenue derived from premiums that it pays out for medical care, jumped from 87.6% in the same quarter last year. Moves in that figure can have outsized effects on health insurers' financial performance. "Because of the narrow margins of our health plan business, relatively small changes in our HBR can create significant changes in our financial results," Centene wrote in its Q2 earnings report. And the problem is not isolated to Centene. Elevance Health (ELV), which offers plans including Blue Cross and Blue Shield, reported a similar jump in its "benefit expense ratio" to 88.9% in the second quarter, up from 86.3% in the same quarter last year. Both Centene and Elevance attributed the jump especially to their government-subsidized offerings under the Medicaid and Medicare programs. Molina Healthcare (MOH), which reported Q2 earnings earlier this month, reported a similar outlook, attributing its lowered earnings guidance to the same trend facing other medical insurers. "The short-term earnings pressure we are experiencing results from what we believe to be a temporary dislocation between premium rates and medical cost trend which has recently accelerated,' Molina CEO Joseph Zubretsky said in a statement. Elevance stock dropped by roughly 12% after its report earlier this month, while Molina stock dropped by roughly 8%. Both stocks have remained depressed since. Health Care (XLV) is the worst-performing sector in the S&P 500 this year. Centene stock dropped by roughly 15% in premarket trading after its earnings release before recovering to a positive gain of roughly 6% by the closing bell on Friday. The buoy was led by CEO Sarah London's announcement that Centene was reinstating earnings guidance after pulling this forecast earlier in the month. The company also reported revenue of $48.7 billion, which topped estimates for $44.2 billion, and said it expects to be able to raise the payments it gets from states for Medicaid plans, which would improve its margins. UnitedHealth's MCR challenge The premium-to-cost ratio will be closely watched at UnitedHealth Group (UNH), which refers to this measure as its "medical care ratio" (MCR) and is slated to release Q2 earnings next week. After seeing its medical care ratio rise to 85.1% in the second quarter last year, UnitedHealth is expected to see its ratio jump to 89.3% this year, according to Bloomberg consensus estimates. An increase like that would mean tighter margins and less overhead for a company that already slashed its forecast earlier this year. That news sent its stock price down by 22%, its biggest drop in a single day since 1998. "Management noted care activity trends continue to run ahead of its previous expectations driven by a greater than expected impact at UHC from new members, further acceleration of [Medicare Advantage] utilization and indications of potential broadening trend among adjacent, complex populations," Truist Securities analysts wrote in a May analyst note about UnitedHealth. Closely watched by investors and analysts will also be how UnitedHealth leadership addresses its disclosure Thursday morning that the insurer is facing and complying with a criminal and civil investigation by the Department of Justice over potential fraudulent billing practices in the insurer's Medicare Advantage program. The stock dropped 4.7% through Thursday trading after the disclosure. The probe comes after reporting by the Wall Street Journal earlier this year that documented the potentially fraudulent activity by UnitedHealth, among other medical insurers, which included insurers' staff doctors and nurses adding diagnoses to patients' profiles on top of those documented by the patients' doctors. UnitedHealth may have to answer investor inquiries about the investigation on its earnings call on Tuesday, though these are far from the only challenges facing the insurance giant. According to former federal prosecutor Scott Hogan, the DOJ's Medicare probe will be looking to establish a prolonged pattern of wrongdoing by the insurer. "If everything comes back good for the company, if the department [closes its investigation], I think the company will be able to reassure the marketplace," Hogan, who specialized in fraud investigations, told Yahoo Finance on Friday. Even if UnitedHealth is eventually cleared of wrongdoing, he said, "If the investigation takes next steps, whether it's a lawsuit or prolonged investigation, I don't think there are many companies that desire those kinds of headlines." Jake Conley is a breaking news reporter covering US equities for Yahoo Finance. Follow him on X at @byjakeconley or email him at Click here for in-depth analysis of the latest stock market news and events moving stock prices
Yahoo
3 days ago
- Business
- Yahoo
Health insurance companies have a problem — people are using their plans more
When medical insurance provider Centene (CNC) opened its books to investors on Friday, the company reported a surprising loss and an uptick in usage. The latter is a broader problem for the industry. In the second quarter, Centene reported an adjusted loss of $79 million and a "health benefits ratio" of 93%. Its benefits ratio, or the amount of its revenue derived from premiums that it pays out for medical care, jumped from 87.6% in the same quarter last year. Moves in that figure can have outsized effects on health insurers' financial performance. "Because of the narrow margins of our health plan business, relatively small changes in our HBR can create significant changes in our financial results," Centene wrote in its Q2 earnings report. And the problem is not isolated to Centene. Elevance Health (ELV), which offers plans including Blue Cross and Blue Shield, reported a similar jump in its "benefit expense ratio" to 88.9% in the second quarter, up from 86.3% in the same quarter last year. Both Centene and Elevance attributed the jump especially to their government-subsidized offerings under the Medicaid and Medicare programs. Molina Healthcare (MOH), which reported Q2 earnings earlier this month, reported a similar outlook, attributing its lowered earnings guidance to the same trend facing other medical insurers. "The short-term earnings pressure we are experiencing results from what we believe to be a temporary dislocation between premium rates and medical cost trend which has recently accelerated,' Molina CEO Joseph Zubretsky said in a statement. Elevance stock dropped by roughly 12% after its report earlier this month, while Molina stock dropped by roughly 8%. Both stocks have remained depressed since. Health Care (XLV) is the worst-performing sector in the S&P 500 this year. Centene stock dropped by roughly 15% in premarket trading after its earnings release before recovering to a positive gain of roughly 6% by the closing bell on Friday. The buoy was led by CEO Sarah London's announcement that Centene was reinstating earnings guidance after pulling this forecast earlier in the month. The company also reported revenue of $48.7 billion, which topped estimates for $44.2 billion, and said it expects to be able to raise the payments it gets from states for Medicaid plans, which would improve its margins. UnitedHealth's MCR challenge The premium-to-cost ratio will be closely watched at UnitedHealth Group (UNH), which refers to this measure as its "medical care ratio" (MCR) and is slated to release Q2 earnings next week. After seeing its medical care ratio rise to 85.1% in the second quarter last year, UnitedHealth is expected to see its ratio jump to 89.3% this year, according to Bloomberg consensus estimates. An increase like that would mean tighter margins and less overhead for a company that already slashed its forecast earlier this year. That news sent its stock price down by 22%, its biggest drop in a single day since 1998. "Management noted care activity trends continue to run ahead of its previous expectations driven by a greater than expected impact at UHC from new members, further acceleration of [Medicare Advantage] utilization and indications of potential broadening trend among adjacent, complex populations," Truist Securities analysts wrote in a May analyst note about UnitedHealth. Closely watched by investors and analysts will also be how UnitedHealth leadership addresses its disclosure Thursday morning that the insurer is facing and complying with a criminal and civil investigation by the Department of Justice over potential fraudulent billing practices in the insurer's Medicare Advantage program. The stock dropped 4.7% through Thursday trading after the disclosure. The probe comes after reporting by the Wall Street Journal earlier this year that documented the potentially fraudulent activity by UnitedHealth, among other medical insurers, which included insurers' staff doctors and nurses adding diagnoses to patients' profiles on top of those documented by the patients' doctors. UnitedHealth may have to answer investor inquiries about the investigation on its earnings call on Tuesday, though these are far from the only challenges facing the insurance giant. According to former federal prosecutor Scott Hogan, the DOJ's Medicare probe will be looking to establish a prolonged pattern of wrongdoing by the insurer. "If everything comes back good for the company, if the department [closes its investigation], I think the company will be able to reassure the marketplace," Hogan, who specialized in fraud investigations, told Yahoo Finance on Friday. Even if UnitedHealth is eventually cleared of wrongdoing, he said, "If the investigation takes next steps, whether it's a lawsuit or prolonged investigation, I don't think there are many companies that desire those kinds of headlines." Jake Conley is a breaking news reporter covering US equities for Yahoo Finance. Follow him on X at @byjakeconley or email him at Click here for in-depth analysis of the latest stock market news and events moving stock prices 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
Malay Mail
14-07-2025
- Business
- Malay Mail
HMG Partners with MediConCen to spearhead Medical Claims Digitalization in Hong Kong
Mr. KC Chan, Founder of HMG (right) and Mr. William Yeung, CEO and Co-Founder of MediConCe (left) are delighted with the strategic partnership which serves to foster the sustainability of Hong Kong's medical insurance sector. HONG KONG SAR - Media OutReach Newswire - 14 July 2025 - HealthMutual Group (HMG), a pioneer in medical concierge and insurance management, and MediConCen Limited, an InsurTech innovator, today announced a strategic partnership to develop an advanced AI-driven claims solution tailored for the Hong Kong combining MediConCen's expertise in AI, blockchain, and automation with HMG's solid experience in medical claims management, the collaboration aims to streamline claims processing, enhance efficiency, and establish a localized Fraud, Waste, and Abuse (FWA) detection KC Chan, Founder of HMG, said, "with over 11 years of experience in medical concierge services, HMG has developed an in-depth understanding of claims management. Our proprietary OCR-based medical invoice platform aligns perfectly with the digital transformation of claims processing, while facilitating the set-up of a FWA framework to ensure robust risk management. Partnering with MediConCen, a leader in cutting-edge InsurTech, allows us to further our mission of supporting the sustainability of Hong Kong's medical insurance sector."Mr. William Yeung, CEO and Co-Founder of MediConCen, said "this collaboration merges MediConCen's AI-powered technological expertise with HMG's unparalleled domain knowledge in insurance and healthcare. Together, we are creating a solution that empowers claims assessors to make faster, and consistent decisions—setting a new gold standard for the industry."The partnership underscores the importance of combining insurance practicality with technology to deliver digitalisation for insurance #HMG #MedConCen # # #MedicalClaims #Digitalization #AI #MedicalInsuranceSector #OCR The issuer is solely responsible for the content of this announcement. About HMG Established in 2014, HealthMutual Group has swiftly emerged as a premier leader in healthcare management across Hong Kong and the Greater China Region. Passionately dedicated to transforming healthcare management and its funding mechanism through provision of medical concierge and other essential value-added service, it benefits all stakeholders: the insured, insurance companies, and the medical sector, fostering their sustainable growth and development. About MedConCen MediConCen is a leading insurTech founded in 2018. Awarded in numerous local and international competitions, MediConCen is the first Hong Kong company utilizing blockchain and cutting-edge technology to automate insurance claim and evolve the insurance claim experience.
Zawya
08-07-2025
- Business
- Zawya
Jordan: Medical insurance premiums account for 37% of total insurance premiums in early 2025
AMMAN — The value of insurance premiums increased during the first five months of this year by 10 per cent, while the value of compensation increased by about 4.3 per cent, compared with the same period in 2024, according to the latest figures of the Central Bank of Jordan (CBJ). According to data monitored on Monday by Al Mamlaka TV, insurance premiums during the period between January and May amounted to JD384 million, compared with JD349 million in the same period in 2024. Based on the list of premium distribution, the largest value during the January-May period went in favour of medical insurance by about JD144 million, and about 37.4 per cent of the total value of premiums, followed by the vehicle insurance with 29 per cent of the total premiums and about JD111 million. In regard to the compensation during the first five months of this year, it reached JD226 million, up from JD216 million in the period from January to the end of May of 2024, according to the latest figures of the CBJ. For the premiums, vehicles and medical insurance dominated the "highest" compensation paid in the first five months of this year, but with a change in ranking. The motor insurance ranked first with JD117 million, 52 per cent of the total, while medical insurance reached JD83 million, about 36.8 per cent, of the total compensation during this period. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
