Busy Medicare Advantage companies have CVS Health and different insurance coverage suppliers spooked concerning the new yr.
The well being care big stated Wednesday that it was scaling again already cautious expectations for 2024 because it tries to know why prices hold rising from the privately run model of the federal government’s Medicare program.
Medicare Advantage plans cowl people who find themselves age 65 and older and others with extreme disabilities or sicknesses. CVS Health has about 3.5 million folks in that enterprise via its Aetna arm.
Health insurers began warning final yr about higher-than-expected prices of their Medicare Advantage plans. CVS Health stated Wednesday these prices had been coming from outpatient care like hip and knee surgical procedures and supplemental advantages equivalent to dental and imaginative and prescient protection.
Uber posts first annual revenue as public inventory
Uber posted its first full-year revenue since going public in 2019 and its inventory hit an all-time excessive Wednesday as robust bookings within the closing quarter of the yr pushed revenue and income past Wall Street expectations.
Like its closing yr as a non-public firm, the final time Uber turned a revenue, it received an enormous tailwind from investments that helped gas income, $1 billion in 2023. The distinction is that Uber has began earning profits from operations.
“2023 was an inflection point for Uber,” stated CEO Dara Khosrowshahi stated in ready remarks.
Uber and different ride-share firms struggled via the COVID-19 pandemic. But Uber has centered on reducing prices and, in the course of the pandemic, build up a then-nascent food-delivery division, which has since turn into a serious income driver.
Delivery income grew 6%, and income for the ride-share a part of the enterprise climbed 34%.
Source: www.bostonherald.com”