A court found that an L.A. billionaire duped Dole investors. Now he wants to stick insurers with the bill

When billionaire David Murdock took Dole Food Co. private for $ 1.6 billion in 2013, he and a company executive defrauded the company’s board of directors, falsifying financial information that convinced the board to accept a lowball price.

That’s what a Delaware judge said in 2015, finding Murdock…

L.A. Times – Business

UnitedHealth is buying hundreds of clinics in $5-billion deal as insurers push into patient care

UnitedHealth Group Inc., the nation’s biggest health insurer, is spending nearly $ 5 billion to buy hundreds of clinics, just three days after rival Aetna Inc. announced a tie-up with CVS Health Corp.

Minnetonka, Minn.-based UnitedHealth said Wednesday that its Optum segment will buy the DaVita…

L.A. Times – Business

Insurers make billions off Medicaid in California during Obamacare expansion

Medicaid is rarely associated with getting rich. The patients are poor, the budgets tight and payments to doctors often paltry.

But some insurance companies are reaping spectacular profits off the taxpayer-funded program in California, even when the state finds that patient care is subpar.

Health…

L.A. Times – Business

Insurers Brace for Drop in Enrollment Amid ACA Turmoil

With enrollment for Affordable Care Act health-insurance plans starting in just two weeks, insurers are bracing for a drop-off among consumers put off by higher rates, confusion about the law’s standing and a shorter window to choose coverage.
WSJ.com: US Business

Gains for tech help U.S. stocks higher, but insurers skid

U.S. stocks finished mostly higher Friday to wrap up a subdued week, and technology companies did most of the heavy lifting. Investors were also pleased to see that shoppers spent more money in September.

Printer and PC maker HP sent technology companies higher after releasing a strong profit forecast…

L.A. Times – Business

Foreign Firms to Sell Large Stakes in Malaysian Insurers

Several foreign insurance companies are preparing to sell large stakes in their Malaysian operations to comply with central-bank rules, which could raise nearly $ 3 billion over the next nine months.
WSJ.com: What’s News Asia

Banks, Insurers Weigh on Stock Market

Stocks are closing mixed Thursday as losses for banks and insurers are partly offset by gains in health care and technology companies, the AP reports. Banks fell along with bond yields, which tends to force interest rates on loans lower. Insurance companies fell as investors weighed the prospects of losses…
Newser

Insurers eyeing big hurricane losses push stock market down slightly

U.S. stocks edged lower in early trading Thursday, pulled down by insurers and other financial companies as investors weighed the prospects of big losses for the sector from Hurricane Irma. The storm, which hammered the northern Caribbean, was projected to hit Florida this weekend. Healthcare and…

L.A. Times – Business

WH: We’ll Make August Health Care Payment to Insurers

The government will make this month’s payments to insurers under the Obama-era health care law that President Trump still wants to repeal and replace, the AP reports. “The August payment will be made,” a White House spokesman said Wednesday. Trump has repeatedly threatened to end the payments, which help slash…
Newser

NO MORE MONEY? Trump warns bailouts for health insurers, lawmakers could ‘end very soon’

FOXNews.com