INDIANAPOLIS — Anthem topped second quarter expectations and raised its 2019 forecast again, as growth from one of the Blue Cross-Blue Shield insurer’s more profitable coverage lines continued to boost revenue.The health insurer also said Wednesday that the start of its new pharmacy benefit manager is going better than expected, and that contributed to its forecast increase.Pharmacy benefit managers, or PBMs, run prescription coverage for employers, insurers and other big clients. Anthem decided to start one called IngenioRx, with help from CVS Health Corp., after splitting with Express Scripts, which used to run prescription benefits for the insurer. The insurer began moving customers over to the new company on May 1 and has said it expects more of an earnings boost from that later this year.Anthem now expects full-year earnings adjusted for one-time items to exceed $19.30 per share after raising its forecast to greater than $19.20 per share in April.Analysts expect, on average, earnings of $19.29 per share, according to FactSet.All the major health insurers now run their own PBMs too as part of a broader push to control health care costs. Businesses that manage prescription drug coverage can give the insurers more data on their customers and help them better manage their care.Indianapolis-based Anthem Inc. covers more than 40 million people and runs insurance plans in several states, including big markets like California and New York.Net income in the second quarter climbed 8% to $1.14 billion, and adjusted earnings per share totalled $4.64.Operating revenue, which excludes investment gains, climbed 11% to $25.18 billion.All of that topped Wall Street forecasts. Analysts there were expecting, on average, earnings of $4.61 per share on $24.7 billion in revenue.But Jefferies analyst David Windley said in a research note that Anthem narrowly beat earnings expectations thanks to better-than-expected control of selling, general and administrative expenses, which fell 4% in the quarter.The insurer’s results also were helped by nearly 8% growth in its fully insured business, which now covers 15.4 million people.Fully insured coverage includes plans sold to small businesses. It is generally more profitable for insurers than the coverage that accounts for most of Anthem’s enrolment: plans for large employers who pay their own claims and leave the insurer to administer the plan.Rising costs from the company’s Medicaid business contributed to a 15% jump in benefit expenses, which climbed to about $20.4 billion in the quarter. Company leaders told analysts the insurer faces challenges to that business in “a handful” of states.Shares fell more than 2% to $295 in pre-market trading Wednesday.The stock had increased 15% since the beginning of 2019 and climbed past $300 to reach new all-time highs earlier in the year._____Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ANTM at https://www.zacks.com/ap/ANTMTom Murphy, The Associated Press
by The Associated Press Posted Mar 12, 2014 10:42 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email FILE – This Feb. 22, 2014 file photo shows Oprah Winfrey speaking at the 45th NAACP Image Awards in Pasadena, Calif. Winfrey’s latest book project will be”What I Know for Sure” a collection of her magazine columns she wrote for O, the Oprah Magazine. Flatiron Books, a new nonfiction imprint of Macmillan, announced Wednesday, March 12, that the book will come out Sept. 2. It will be the imprint’s first release. (Photo by Chris Pizzello/Invision/AP, File) Compilation of Oprah Winfrey magazine columns to be published in September NEW YORK, N.Y. – Oprah Winfrey’s latest book project is a collection of magazine columns by a writer she knows quite well.Oprah Winfrey.“What I Know for Sure” features the monthly essays that Winfrey has written for O, the Oprah Magazine over the past 14 years. Flatiron Books, a new nonfiction imprint of Macmillan, announced Wednesday that “What I Know for Sure” will come out Sept. 2. It will be the imprint’s first release.According to Flatiron, the book will be organized around such themes as joy, gratitude and possibility. Winfrey has said she named her column “What I Know for Sure” after film critic Gene Siskel asked her “What do you know for sure?” during an interview. She has called the columns a way of “taking stock” of her life.Winfrey will write the book’s introduction.