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Pacificare Health Systems

BUSINESS
August 26, 2005 | Lisa Girion, Times Staff Writer
Consumers told state regulators Thursday that they feared UnitedHealth Group Inc.'s bid to buy PacifiCare Health Systems Inc. would lead to higher premiums, harmful changes in their health plan benefits and a reduction in competition among HMOs. At a hearing in Santa Ana, critics of the $8.
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BUSINESS
August 2, 2005 | Debora Vrana, Times Staff Writer
Top executives of PacifiCare Health Systems Inc. would earn nearly $230 million if it was acquired by industry giant UnitedHealth Group Inc. by Feb. 1, according to documents filed with the state Monday. In their filings the companies, which announced the $8.
BUSINESS
July 29, 2005 | Debora Vrana, Times Staff Writer
Just weeks after agreeing to an $8.1-billion deal to be acquired by America's second-largest health insurer, Orange County-based PacifiCare Health Systems Inc. said Thursday that second-quarter profit rose 20% as it gained members, raised premiums and cut medical costs. "We are very pleased with the year-over-year increase in our earnings," which were ahead of analysts' expectations, said Howard Phanstiel, chief executive of PacifiCare.
BUSINESS
July 21, 2005 | Michael Hiltzik
Just as the human body needs exercise to remain healthy, government regulators need frequent challenges to maintain their, well, regularity. So we should probably be grateful that the proposed acquisition of PacifiCare Health Systems Inc. by UnitedHealth Group Inc. offers the state Department of Managed Health Care an opportunity to get limber.
BUSINESS
July 17, 2005
Two key points in "CEOs Defend Healthcare Deal," July 9: 1. The article states that after the acquisition of PacifiCare Health Systems Inc. by UnitedHealth Group Inc. some treatments will be available only to those who can afford them. 2. PacifiCare Chief Executive Howard Phanstiel says he would reap about $190 million from the transaction in company stock options, restricted shares and other equity instruments. This is the problem with the healthcare delivery system in the U.S. today.
BUSINESS
July 15, 2005 | Debora Vrana, Times Staff Writer
Days after announcing plans to buy an Orange County-based competitor, UnitedHealth Group -- the nation's No. 2 health insurer -- reported Thursday that its profit in the second quarter jumped 36%. UnitedHealth, based in Minnetonka, Minn., said last week that it would pay $8.1 billion for Cypress-based PacifiCare Health Systems, the nation's largest manager of Medicare plans for seniors.
BUSINESS
July 9, 2005 | Debora Vrana, Times Staff Writer
The acquisition of PacifiCare Health Systems Inc. by industry giant UnitedHealth Group Inc. would mean more competition in the health insurance business -- not less, the companies' chief executives said Friday. UnitedHealth's William W. McGuire and PacifiCare's Howard Phanstiel described the $8.1-billion deal -- which must win regulatory and shareholder approval -- as a step toward a more rational healthcare system.
BUSINESS
June 11, 2005 | From Bloomberg News
PacifiCare Health Systems Inc. has proposed five insurance plans, including one with no monthly premium, in a bid to provide drug coverage to Medicare patients nationwide next year, Chief Executive Howard G. Phanstiel said Friday. Medicare, the U.S. health insurance program for 42 million elderly and disabled people, will begin paying for a broad array of prescription drugs in 2006 through plans administered by private insurers.
BUSINESS
April 5, 2005 | From Bloomberg News
PacifiCare Health Systems Inc., the biggest manager of Medicare health plans, and other insurers will get about a 4.8% payment increase from the program in 2006, the Centers for Medicare and Medicaid Services said Monday. Managed-care plans that enroll some of the 41 million people in Medicare, the U.S. government's health insurance program for the elderly and disabled, will get the increased payments, the Baltimore-based agency said.
BUSINESS
February 19, 2005 | From Bloomberg News
PacifiCare Health Systems Inc., the Cypress-based manager of Medicare healthcare plans, and other insurers may get an increase of at least 4% in overall payments from the program next year, the government said. The insurers were given an average reimbursement increase of at least 6.6% this year under a 2003 law to revamp Medicare, the U.S. government's health-insurance program for the elderly and disabled, at a cost of more than $500 billion.
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