NYT: In Scramble for New Medicare Business, a Few Insurers Grab the Most

[DeepModem Mom]

In Scramble for New Medicare Business, a Few Insurers Grab the Most
By ROBERT PEAR
Published: April 29, 2006

WASHINGTON, April 28 — Two companies, UnitedHealth Group and Humana, have captured nearly half of the vast new market for prescription drug insurance under Medicare, according to new data issued Friday by the Bush administration.

The figures provided a snapshot of a business that has been plagued by start-up problems, but could prove to be a fast-growing and profitable enterprise for insurers.

More than 80 companies are offering more than 1,400 prescription drug plans around the country. But three companies — UnitedHealth, Humana and WellPoint — account for 52 percent of the enrollment. And the top 10 companies have 80 percent of the total.

Two strategies have proved particularly effective for the market leaders. UnitedHealth has the exclusive right to use the AARP name on one of its prescription drug plans, and its marketing strategy relies heavily on that brand.

Humana, by contrast, is marketing itself as the low-price provider in most regions, offering premiums of less than $2 a month in several states, including Iowa, Minnesota and North Dakota....

http://www.nytimes.com/2006/04/29/washington/29medicare.html

[PSPS]

1. "could prove to be a fast-growing and profitable enterprise for insurers."

> ... could prove to be a fast-growing and profitable enterprise for
> insurers.

Translation: bush, as usual, funnels our taxes to the over-bloated wallets of his rich donors and cronies in the insurance industry, while the needy go wanting.

[zann725]

2. I wasn't aware until AFTER signing w/AARP that UHC was in "shadows"

...as UHC is a HUGE "private health provider"...and with customer-interest quite often NOT of primary concern. Obviously I feel "duped" by the AARP "front" for UHC.

Also, when I asked for a particular treatment, I was referred by Medicare Cust. Rep. to "contact Heritage Foundation" with my request. Clearly this must've been sarcasm...given Heritage Foundation's lack of compassion for the "average" man (particularly elderly and disabled). I DO hope it was a joke...as to MY knowledge there IS only one "Heritage Foundation," and I wonder WHAT on earth involvement they merit in deciding Medicare decisions??

[cosmicdot]

3. also, UnitedHealth bought PacifiCare last year

so, I wonder if the UnitedHealth numbers included PacifiCare, as well as AARP's numbers (since AARP's 'plan' is the UnitedHealth 'plan') - 3 so-called choices = the same corporation

I discovered the merger w/PacifiCare by looking up their Annual Shareholder proxy reports at http://www.sec.gov (form DEF-14A) ...

another side note I found interesting ... Donna Shalala, Clinton's former HHS Secretary, is out there helping We the People :sarcasm: by sitting on UnitedHealth's Board of Directors ... now, isn't that special? So, is Tom "911 Coverup Commission head" Kean.

Is there any effect on 'plans' as a result of mergers, buyouts, bankruptcies???

What meds might one's health need down the road which are not on the forumulary of the plan one chose?

It's all a scam for Bu$h's corporate buddies to profit. It's the M.O. behind most everything they do.

WellPoint recently announced a 1st Quarter profit increase of 20%; and, they were in the top 3 along with UnitedHealth and Humana. Of course, UnitedHealth has been in the news regarding its $2.4 billion stock options to its executives ($1.6 Billion to the CEO). BILLIONs. The CEO, also, got a $5.8 million 'bonus' in 2005.

I'm waiting for the 11 Democratic Senators (granted 2 of them, Breaux (DINO-LA) and Miller (DINO-GA) are no longer in the Senate; yet, 2 current Democratic Senators were absent, Kerry and Lieberman) who voted FOR this bill to apologize (Baucus,Carper, Conrad,Dorgan,Feinstein,Landrieu,Lincoln,Nebraska's Nelson,Wyden) and to submit a bill to REPEAL it <crickets> . It only passed the House after who knows what behind the scenes bullying ... the hammer went down at 6 a.m. when the vote flipped from 218 to 216 deficit to a 220 to 215 passage.

9 GOP voted AGAINST this bill, so it should have never seen the light of day. How is it that Reid and other leadership couldn't get the Democrats together on this very Democratic side of an issue and actually defeat a Bu$h agenda bill (what Bu$h agenda bill has been good for the common good? What idiot would vote for anything Bu$h submits based on all witnessed since 2001?) Better than no bill at all, right Feinstein? That's what she said, adding the bill was a victory for senior citizens (yet, again the disabled on Medicare are off the radar).