The acquisition boosts Coventry's customer base in North Carolina to 167,000, which is more than seven times the number it had 18 months ago. PacifiCare Health Systems, the nations largest Medicare HMO covering more than 4 million seniors, announced it would either lose money or just break even in the third quarter.
Analysts expect the insurer's financial crisis to last several years.
Blue Cross Blue Shield United of Wisconsin announced its surplus fell slightly below the minimum-security surplus that the state has set for the insurer. If the surplus continues to fall, the state will have the option of seizing control of the health plan's operations. Copyright 1995-2001 American Medical Association. All rights reserved.