Tenet 2014 Results Upbeat — With Help From The Health Law
The hospital operator reported that the Affordable Care Act helped trigger a 21 percent jump in fourth-quarter admissions. Also, Aetna announces that it will boost the wages of its lowest-paid workers.
The Wall Street Journal:
Tenet Upbeat On 2014 Results
Tenet Healthcare Corp. said Monday said that it expects 2014 results to be near the top of its previously raised range, as the hospital operator continues to benefit from the Affordable Care Act, which helped spur a 21% admissions jump in the fourth quarter. For 2014, earnings should be near the top of range of the $1.90 billion to $1.95 billion range, Tenet said. For 2015, the Dallas-based company forecast revenue ... slightly above the $17.4 billion predicted by analysts polled by Thomson Reuters. It also foresees admissions growth of 2.5% to 3.5%. (Chen, 11/12)
The Wall Street Journal:
Aetna Sets Wage Floor: $16 An Hour
Amid signs of a tightening labor market, Aetna Inc. plans to boost the incomes of its lowest-paid workers by as much as a third in a bid to draw top prospects and reduce turnover. The move by the big health insurer highlights larger debates over the pace of the economic recovery and the compensation of people toward the bottom of the wage scale. Around 12% of Aetna’s domestic work force will see a raise to a floor of $16 an hour, primarily employees in customer service and billing-related jobs. Aetna, which also said it will cut health-care costs for many of the same employees next year, follows Gap Inc., Starbucks Corp. and others in raising the lower limit on workers’ wages. (Wilde Mathews and Francis, 1/12)
In other news -
PBS NewsHour:
Navigating The Complexity Of A Long-Term Care Insurance Policy
People buy long-term care insurance as one way of financing “personal or custodial care” in a nursing home or a community facility, according to the U.S. Department of Health and Human Services. The cost of these insurance plans is calculated based on a person’s age, how much a policy will pay per day, how many days or years a plan will pay out, among other factors. Without long-term care insurance, people often either use their own savings or Medicaid to cover long-term care. Medicare does not pay the “largest part of long-term care services.” (Santhanam, 1/9)
