A Michigan-based firm says it experienced health cost savings after investing in a private exchange and defined-contribution plan designed by three Blue health insurers to simplify insurers’ health benefit offerings.

Insurance carriers need to improve if service fundamentals by “proactively” offer advice and provide customized options to employers if they are to increase employer satisfaction with health insurance plans, a new study suggests.

Wellpoint, an Indianapolis, Ind.-based national health benefits provider, acquired a senior-focused health care delivery program as it seeks new opportunities in response to the effects of federal health reform.

Brokerage Edward Jones says the stocks of the three health insurers it covers – Aetna, UnitedHealth Group and Wellpoint – warrant a “sell” rating, not the prior “hold” rating because of federal health reform.

UniCare is exiting the Virginia market, eliminating individual health insurance coverage for about 3,000 people, mostly in Northern Virginia, company officials said.

Aetna withdrew a 19% rate increase in California after “substantial mathematical errors” were uncovered during the state’s review, state insurance regulators said.

President Barack Obama, marking the 90th day since passage of federal health reform legislation, met with chief executives from more than a dozen insurance companies, warning them against raising rates in response to new requirements placed on them.

WellPoint, the nation’s largest health insurer by medical membership, plans to unilaterally implement key provisions of the Breast Cancer Patient Protection Act introduced in Congress.

The chairman of the U.S. Senate Committee on Commerce, Science and Transportation is offering suggestions on how health insurers nationwide can honor the intent of new mandates on medical loss ratio under new federal law without attempting to “game” the system.

The head of national health insurer WellPoint said she is “disappointed” that President Barack Obama, in his weekly address to the nation, cited a Reuters report alleging that the company specifically targets women with breast cancer for the practice of rescission.