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NEWS
March 10, 2013 | By Bonnie L. Cook, Inquirer Staff Writer
Daniel F. McGill Sr., 81, of Rhawnhurst, a retired insurance marketing executive with a sense of humor, died Monday, March 4, of cancer at a relative's home in Horsham Township. For 40 years, Mr. McGill worked for Aetna Inc. in Center City. He led the marketing of the firm's products to independent insurance brokerages in the Philadelphia area and South Jersey. Born in Rhawnhurst, he lived there for most of his life before moving in with a daughter last October when his health failed.
BUSINESS
February 18, 2013 | By Harold Brubaker, Inquirer Staff Writer
  When patients insured by Independence Blue Cross are discharged from the hospital, discharge reports are added to medical records at their primary doctors' offices less than 50 percent of the time. It's a common example of the gaps in information-sharing among hospitals, doctors, and others in the health-care system. "A physician caring for a patient is sometimes not aware of all of the care that's been provided, not aware of all the medications the patient is taking, or aware of the lab tests that have been done, or of the results of those tests," said Richard Snyder, chief medical officer at Independence Blue Cross.
BUSINESS
October 9, 2012
IN THE REGION Safeguard raises 2012 guidance Wayne-based holding company Safeguard Scientifics Inc. raised 2012 revenue guidance, saying aggregate revenue for its partner companies will be in the range of $185 million to $190 million. That compared with initial 2012 guidance of $160 million to $165 million. "Steady growth and expansion at our partner companies, despite the fragile state of the macro-economy, continues to validate Safeguard's strategic focus," Peter J. Boni, president and chief executive, said in a statement.
BUSINESS
September 26, 2012 | By Joseph N. DiStefano, Inquirer Staff Writer
For the third time in 15 years, Claudia B. Timbo has started a new call center up in Blue Bell. This time, she's calling it CompanyVoice , and leasing a floor of a vacant Aetna Inc. building on Harvest Drive - enough space for 125 people - with options to take the three other floors as business grows. Timbo says her new clients include law firm Linebarger Goggan Blair & Sampson L.L.P. , which handles homeowner tax claims for the City of Philadelphia , Continental Bank , and trucking companies seeking sales leads.
BUSINESS
August 22, 2012 | By Harold Brubaker, Inquirer Staff Writer
  Aetna Inc., a major health insurer in the Philadelphia region, has agreed to pay $5.7 billion to buy competitor Coventry Healthcare Inc. in a bid to expand its Medicaid business and other operations before major provisions of the Affordable Care Act take effect, the companies said Monday. In 2014, many states are expected to expand Medicaid to cover a significant portion of the currently uninsured, increasing business opportunities for companies that run those programs for states.
BUSINESS
June 18, 2012 | By Harold Brubaker and INQUIRER STAFF WRITER
Several of the nation's largest health insurers drew attention last week by saying they would maintain certain popular consumer provisions in the 2010 health reform law even if the Supreme Court strikes down the statute in a ruling expected this month. Humana Inc., Aetna Inc., and UnitedHealth Group Inc. said they would continue offering preventive health services, such as immunizations with no direct out-of-pocket costs for consumers, allow children to stay on their parents' plans until they turn 26, and keep the third-party appeals process for denials of coverage mandated by the 2010 Patient Protection and Affordable Care Act. But a local employee benefits expert said the insurers' announcements were probably not as significant as they first appeared to be. "I think it was really just a PR move," said Joseph McGinty, vice president of employee benefits consulting at the Graham Co., a Philadelphia employee benefits and insurance firm.
BUSINESS
April 17, 2012 | By Har­old Bru­bak­er, IN­QUIR­ER STAFF WRIT­ER
In­de­pend­ence Blue Cross, the largest health in­sur­er in the Philadelphia re­gion, said Tues­day that its 2011 net in­come soared 49 percent, to $314.8 mil­lion. The com­pa­ny's prof­it mar­gin of 3.4 per­cent was its biggest in at least 10 years. "I'm proud of the pro­gress we've made," said IBC's president and chief ex­ec­u­tive of­fi­cer, Dan­iel J. Hilferty. The in­sur­er has rebounded from two years of losses, in 2008 and 2009. Glen Philips, an IBC customer, said it bothered him to hear of IBC's strong profits, given the heavy cost of buying insurance for 40-plus employees at Philips Bros.
BUSINESS
April 8, 2012 | By Harold Brubaker, INQUIRER STAFF WRITER
Independence Blue Cross, the biggest health insurer in the Philadelphia region, added 45,020 members last year, the first growth since 2008 for the Center City nonprofit, which serves nearly 3.1 million people. IBC has yet to release comprehensive financial results for 2011, but president and chief executive Daniel J. Hilferty said the company continued its recovery from losses in 2008 and 2009 and expected to report an improvement over 2010, when it had a profit margin of 2.2 percent.
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