Printer Friendly

PACIFICARE HEALTH SYSTEMS RECEIVES NOTICE OF 1993 MEDICARE RATE INCREASE

 PACIFICARE HEALTH SYSTEMS RECEIVES NOTICE
 OF 1993 MEDICARE RATE INCREASE
 CYPRESS, Calif., Sept. 11 /PRNewswire/ -- PacifiCare Health Systems Inc. (NASDAQ: PHSYA, PHSYB) said it had received notice from the Health Care Financing Administration (HCFA) earlier this week that it will receive an average rate increase of approximately 11 percent for its Medicare risk program which will take effect Jan. 1, 1993. The company's Medicare business accounts for approximately 21 percent of its more than 925,000 total members.
 "We are quite pleased with next year's rate increase which was higher than we had expected," said Terry Hartshorn, president and chief executive officer. "Our Medicare program, which is one of the fastest growing in the nation, is an important part of our portfolio of businesses and expected to continue to grow at a robust pace. The receipt of a larger rate increase will enable us to continue to reinvest in Medicare as well as give us resources to invest in other new products, services and geographic expansions."
 PacifiCare Health Systems owns and operates health maintenance organizations in California, Oklahoma, Oregon, Texas and Washington. The company also operates Secure Horizons, one of the nation's largest and fastest growing Medicare risk programs. Other operations include Columbia General, an insurance subsidiary licensed in 34 states; Pacific Review Services, an independent medical utilization review and case management company; and Lifelink, a behavoiral health managed care company.
 -0- 9/11/92
 /CONTACT: David K. Erickson, investor relations, 714-229-2636, or Debby Iacunato, 714-220-3745, both of Pacificare Health Systems/
 (PHSYA PHSYB) CO: PacifiCare Health Systems Inc. ST: California IN: HEA SU:


BP-KJ -- LA017 -- 8563 09/11/92 15:25 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 11, 1992
Words:272
Previous Article:WESTMORELAND REPORTS ORGANIZATION AND PRODUCTION CHANGES, EMPLOYEE REDUCTIONS AND NEW LOWER COST MINING PLANS
Next Article:MOODY'S LOWERS SAN DIEGO COUNTY LEASE DEBT RATINGS FROM A1 TO A
Topics:


Related Articles
PACIFICARE HEALTH SYSTEMS ANNOUNCES SECOND QUARTER RESULTS
PACIFICARE HEALTH SYSTEMS ANNOUNCES THIRD QUARTER RESULTS
PACIFICARE HEALTH SYSTEMS RECEIVES NOTICE OF 1994 MEDICARE RATE INCREASE
PACIFICARE HEALTH SYSTEMS ANNOUNCES FIRST QUARTER RESULTS
PACIFICARE OF CALIFORNIA AND FOUR AFFILIATES ASSIGNED INITIAL BEST'S RATINGS
PacifiCare of California and CalPERS Sign Letter of Intent to Enter Into Three-Year Agreement for Health Care Coverage
PacifiCare of California and Pacific Business Group on Health Enter Into Three-Year Agreement
PacifiCare Health Systems Announces President for PacifiCare of Washington
PacifiCare Health Systems Expects Medicare Rate Increases of 6.5 percent to 7 Percent in 2006.
PacifiCare Reaffirms Guidance for 2004 and Provides New Guidance on 2005 Medicare + Choice Rate Increases.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters