In advance of issuing the Executive Order that culminated in the promulgation by the Department of Labor of proposed regulations expanding the availability of Association Health Plans, President Trump announced that one of the purposes of the order was to allow people to buy health insurance "across state lines."
Reported by Mondaq 23 hours ago.
United States: Association Health Plans And The Sale Of Group Health Insurance "Across State Lines" - Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
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Alera Group Acquires Two More Employee Benefit Firms in Texas and Connecticut
Benefit Planning Services in Connecticut and IMG Benefits Group in Texas Become Newest Alera Group Companies
DEERFIELD, Ill. (PRWEB) March 07, 2018
Alera Group, a leading national employee benefits, property and casualty, risk management and wealth management firm, has acquired Benefit Planning Services (BPS), located in Norwalk, Connecticut, and IMG Benefits Group LLC, located in Houston, Texas. Terms of the transactions were not announced.
Benefit Planning Services (BPS), located in Norwalk, Connecticut, has been focused on providing benefits solutions since 1980. BPS offers a variety of services from group health insurance to executive benefits packages and more. With some accounts spanning three decades, BPS is dedicated to nurturing long-term client relationships.
IMG Benefits Group, LLC is headquartered in Houston, Texas, and focuses on the creation of strategic employee benefit programs tailored to each client’s needs. The firm has been built on five pillars: helping clients stay informed, providing client support, assisting in the implementation process, serving as an advocate and being a strategic benefits resource. IMG Benefits is committed to their clients’ success through innovative solutions.
“We remain committed to acquiring firms that are committed to enhancing the client experience through a culture of collaborations. These two firms are strong additions to Alera Group,” said Alan Levitz, CEO of Alera Group. “We are excited to welcome Benefit Planning Services and IMG Benefits Group to Alera Group.”
Alera Group continues to grow organically and through acquisitions since its formation in December 2016. For more information on partnering with Alera Group, visit Partnership Opportunities at http://www.aleragroup.com.
About Alera Group
Based in Deerfield, IL, Alera Group’s over 900 employees serve more than 20,000 clients nationally. Alera Group, is committed to enhancing the client experience within their employee benefits, property and casualty, risk management and wealth management practices. Alera Group is comprised of high-performing, entrepreneurial firms across the U.S. It is the 15th largest independent insurance agency and the 7th largest independent employee benefits firm in the country. For more information, visit http://www.aleragroup.com or follow Alera Group on Twitter: @AleraGroupUS. Reported by PRWeb 21 hours ago.
DEERFIELD, Ill. (PRWEB) March 07, 2018
Alera Group, a leading national employee benefits, property and casualty, risk management and wealth management firm, has acquired Benefit Planning Services (BPS), located in Norwalk, Connecticut, and IMG Benefits Group LLC, located in Houston, Texas. Terms of the transactions were not announced.
Benefit Planning Services (BPS), located in Norwalk, Connecticut, has been focused on providing benefits solutions since 1980. BPS offers a variety of services from group health insurance to executive benefits packages and more. With some accounts spanning three decades, BPS is dedicated to nurturing long-term client relationships.
IMG Benefits Group, LLC is headquartered in Houston, Texas, and focuses on the creation of strategic employee benefit programs tailored to each client’s needs. The firm has been built on five pillars: helping clients stay informed, providing client support, assisting in the implementation process, serving as an advocate and being a strategic benefits resource. IMG Benefits is committed to their clients’ success through innovative solutions.
“We remain committed to acquiring firms that are committed to enhancing the client experience through a culture of collaborations. These two firms are strong additions to Alera Group,” said Alan Levitz, CEO of Alera Group. “We are excited to welcome Benefit Planning Services and IMG Benefits Group to Alera Group.”
Alera Group continues to grow organically and through acquisitions since its formation in December 2016. For more information on partnering with Alera Group, visit Partnership Opportunities at http://www.aleragroup.com.
About Alera Group
Based in Deerfield, IL, Alera Group’s over 900 employees serve more than 20,000 clients nationally. Alera Group, is committed to enhancing the client experience within their employee benefits, property and casualty, risk management and wealth management practices. Alera Group is comprised of high-performing, entrepreneurial firms across the U.S. It is the 15th largest independent insurance agency and the 7th largest independent employee benefits firm in the country. For more information, visit http://www.aleragroup.com or follow Alera Group on Twitter: @AleraGroupUS. Reported by PRWeb 21 hours ago.
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Amazon offers discount Prime membership to Medicaid recipients
(Reuters) - Amazon.com Inc said on Wednesday it was expanding its discounted Prime membership offer to Medicaid members, the U.S. government's health insurance program for the poor.
Reported by Reuters 20 hours ago.
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Highmark Health, Allegheny Health Network Break Ground on New AHN Cancer Institute Academic Center at Allegheny General Hospital
Alllegheny Health Network is building an $80 Million, state-of-the-art facility to serve as the network's hub for cancer research, clinical trials and complex patient care, as part of a $225 million investment by AHN and Highmark Health to launch a new paradigm in cancer care.
PITTSBURGH (PRWEB) March 07, 2018
Highmark Health and Allegheny Health Network (AHN) today unveiled plans for a new academic cancer center at Allegheny General Hospital (AGH) that will provide patients with access to leading-edge cancer therapies and serve as the nucleus of cancer research, clinical trials and medical education for the AHN Cancer Institute.
Expected to open in late 2019, the new $80 million, 90,000 square-foot AHN Cancer Institute Academic Center at AGH will be the academic specialty base of an integrated, innovative, and collaborative network that takes high-quality, comprehensive cancer care into communities throughout the western Pennsylvania region. The facility is part of a $225 million commitment that Highmark and AHN have made to establish a new paradigm in community-based cancer care.
“The demand for expert cancer care is growing in our region, and so are the number of innovative treatment options available to patients today, from targeted therapies that zero in on tumors’ genetic profiles to new technologies that can eliminate the need for surgery,” said David Holmberg, President and CEO, Highmark Health. “Our significant investment in the AHN Cancer Institute will not only greatly enhance our patients’ and members’ access to care, but also transform it through the extraordinary work of our caregivers and the advanced capabilities of the facilities we are developing.”
AHN currently employs more than 200 cancer physicians and 500 oncology professionals who provide care at more than 50 affiliated cancer clinics across western Pennsylvania. In addition to the new Academic Center, the network is building multiple community cancer centers that will provide comprehensive services close-to-home for patients and their families. Locations already identified for the new facilities include Monroeville, Erie, Butler and Beaver County.
The network will be recruiting more than 200 additional oncology professionals over the next two years to staff the academic and community centers, including physicians and other specialists.
According to the American Cancer Society, approximately 1.7 million new cancer cases – including 81,000 in Pennsylvania alone - are expected to be diagnosed in 2018, a two percent hike from 2015. Notably, approximately eighty percent of those diagnosed with cancer in Pennsylvania live outside the large population centers of Pittsburgh and Philadelphia. The number of cancer survivors in the U.S. is expected to rise to from 15.5 million to 20.3 million in 2026.
“At AHN, we are committed to helping patients and their families fight cancer on every front,” said Cynthia Hundorfean, President and CEO of AHN. “From collaborating with the best minds in cancer care to pioneer the treatments and cures of tomorrow, to investing in resources that improve the experience and outcomes of our patients today, to transitioning more cancer care into the communities where patients live, our focus is keeping patients at the center of everything we do.”
As the hub of the AHN Cancer Institute’s clinical trials coordination, the Academic Center will be a critical resource for the Network’s expanding collaborations with the world-renowned Johns Hopkins Medicine Kimmel Cancer Center, including studies of novel immunotherapy regimens, genomic testing, targeted biologic therapies, and other promising new treatments. Two trials currently being offered exclusively in Pittsburgh at the Institute include a study looking at the immunotherapy Nivolumab (Opdivo) for the treatment of esophageal cancer, and another that examines a new strategy that has shown preliminary positive results for men with treatment-resistant metastatic prostate cancer, alternately flooding and starving the body of testosterone.
In total, AHN and Johns Hopkins together offer cancer patients access to novel therapies being explored in more than 600 active clinical trials between the organizations.
“With this new facility at AGH, we are establishing the academic core of a cancer care model that allows the vast majority of patients to be treated at the highest level in their own communities,” said David Parda, MD, Chair of the AHN Cancer Institute. “At our Academic Center, we will continue to care for the most complex cases, while also helping to advance our knowledge of this disease, develop new standards of care through research and clinical trials, and train the next generation of physicians and other cancer specialists.”
The Academic Center will provide a wide-array of clinical and support services for cancer patients, including, state-of-the-art radiation oncology capabilities; 49 chemotherapy infusion bays; conference and exam rooms with telemedicine capabilities to facilitate peer review and clinical collaboration, tumor boards, collaborative research projects and clinical trials development; a positive image salon; social services; nutritional counseling and financial counseling.
The new facility will house the most advanced cancer fighting technologies available, including one of the nation’s first Gamma Pod systems - a groundbreaking technology that quickly eradicates breast tumors with high precision radiation; Gamma Knife therapy for the non-invasive stereotactic treatment of brain tumors and other complex neurological conditions; and the latest in intensity modulated and image guided radiation therapy for all solid tumors, including one of the first five, state-of-the-art MRI linear accelerator capabilities in the United States.
Located adjacent to the AGH Imaging Center, the Academic Center will provide cancer patients with access to all the advanced modalities that they may need during the course of screening, diagnosis, treatment and survivorship. Close connections with imaging, surgery, pathology and other medical specialties at AGH will help patients at the center navigate all aspects of cancer care with greater efficiency and effectiveness.
The Academic Center will be a four-story structure, with two floors below ground and two above, located on East North Avenue and situated between the hospital’s South Tower and Sandusky Street parking garage. The façade of the structure will feature blue faceted glass with an atrium that preserves the South Tower’s historical features and connects to the hospital’s Magovern Conference Center and front rotunda entrance, providing easy access for cancer patients and families, medical professionals and the community.
Like the new community cancer centers being developed by AHN, the network’s patient-centered philosophy is also reflected in the design and aesthetics of the Academic Center. The facility will feature comfortable waiting areas, exam rooms and treatment areas that maximize privacy, abundant natural light and soft colors. Valet parking will be provided and patients will be greeted by navigators who will help manage their visit and expedite their care.
“Our facility will be designed to help patients and their families be comfortable, informed and empowered in the face of cancer, so that they can maximize their health and well-being and achieve the best possible outcomes,” Dr. Parda said.
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About Allegheny Health Network
Allegheny Health Network, a Highmark Health Company, is a western Pennsylvania-based integrated healthcare system that serves patients from across a five state region that includes Pennsylvania, Ohio, West Virginia, Maryland and New York. The Network’s Cancer Institute employs more than 200 physicians and 500 oncology professionals who provide a complete spectrum of oncology care at more than 50 affiliated oncology clinics, including access to state-of-the-art technologies and new therapies being explored in clinical cancer trials. The Cancer Institute has the only cancer program in the Pittsburgh region with Integrated Network Cancer Program accreditation by the American College of Surgeons Commission on Cancer, its radiation oncology program is the largest in the country accredited by the American College of Radiology, QOPI, FACT, NAPBC. AHN also has a formal affiliation with the Sidney Kimmel Comprehensive Cancer Center at Johns Hopkins, one of the nation’s 41 comprehensive cancer centers designated by the National Cancer Institute, for research, medical education and clinical services. To schedule an appointment with an AHN oncologist, please call 412.DOCTORS or visit http://www.ahn.org/find-a-doctor.
About Highmark Health
Highmark Health, a Pittsburgh, PA based enterprise that employs more than 40,000 people nationwide and serves nearly 50 million Americans in all 50 states, is the second largest integrated health care delivery and financing network in the nation based on revenue. Highmark Health is the parent company of Highmark Inc., Allegheny Health Network, and HM Health Solutions. Highmark Inc. and its subsidiaries and affiliates provide health insurance to more than 5 million members in Pennsylvania, West Virginia and Delaware as well as dental insurance, vision care and related health products through a national network of diversified businesses that include United Concordia Companies, HM Insurance Group, Davis Vision and Visionworks. Allegheny Health Network is the parent company of an integrated delivery network that includes eight hospitals, more than 2,800 affiliated physicians, ambulatory surgery centers, an employed physician organization, home and community-based health services, a research institute, a group purchasing organization, and health and wellness pavilions in western Pennsylvania. HM Health Solutions focuses on meeting the information technology platform and other business needs of the Highmark Health enterprise as well as unaffiliated health insurance plans by providing proven business processes, expert knowledge and integrated cloud-based platforms. To learn more, please visit http://www.highmarkhealth.org. Reported by PRWeb 18 hours ago.
PITTSBURGH (PRWEB) March 07, 2018
Highmark Health and Allegheny Health Network (AHN) today unveiled plans for a new academic cancer center at Allegheny General Hospital (AGH) that will provide patients with access to leading-edge cancer therapies and serve as the nucleus of cancer research, clinical trials and medical education for the AHN Cancer Institute.
Expected to open in late 2019, the new $80 million, 90,000 square-foot AHN Cancer Institute Academic Center at AGH will be the academic specialty base of an integrated, innovative, and collaborative network that takes high-quality, comprehensive cancer care into communities throughout the western Pennsylvania region. The facility is part of a $225 million commitment that Highmark and AHN have made to establish a new paradigm in community-based cancer care.
“The demand for expert cancer care is growing in our region, and so are the number of innovative treatment options available to patients today, from targeted therapies that zero in on tumors’ genetic profiles to new technologies that can eliminate the need for surgery,” said David Holmberg, President and CEO, Highmark Health. “Our significant investment in the AHN Cancer Institute will not only greatly enhance our patients’ and members’ access to care, but also transform it through the extraordinary work of our caregivers and the advanced capabilities of the facilities we are developing.”
AHN currently employs more than 200 cancer physicians and 500 oncology professionals who provide care at more than 50 affiliated cancer clinics across western Pennsylvania. In addition to the new Academic Center, the network is building multiple community cancer centers that will provide comprehensive services close-to-home for patients and their families. Locations already identified for the new facilities include Monroeville, Erie, Butler and Beaver County.
The network will be recruiting more than 200 additional oncology professionals over the next two years to staff the academic and community centers, including physicians and other specialists.
According to the American Cancer Society, approximately 1.7 million new cancer cases – including 81,000 in Pennsylvania alone - are expected to be diagnosed in 2018, a two percent hike from 2015. Notably, approximately eighty percent of those diagnosed with cancer in Pennsylvania live outside the large population centers of Pittsburgh and Philadelphia. The number of cancer survivors in the U.S. is expected to rise to from 15.5 million to 20.3 million in 2026.
“At AHN, we are committed to helping patients and their families fight cancer on every front,” said Cynthia Hundorfean, President and CEO of AHN. “From collaborating with the best minds in cancer care to pioneer the treatments and cures of tomorrow, to investing in resources that improve the experience and outcomes of our patients today, to transitioning more cancer care into the communities where patients live, our focus is keeping patients at the center of everything we do.”
As the hub of the AHN Cancer Institute’s clinical trials coordination, the Academic Center will be a critical resource for the Network’s expanding collaborations with the world-renowned Johns Hopkins Medicine Kimmel Cancer Center, including studies of novel immunotherapy regimens, genomic testing, targeted biologic therapies, and other promising new treatments. Two trials currently being offered exclusively in Pittsburgh at the Institute include a study looking at the immunotherapy Nivolumab (Opdivo) for the treatment of esophageal cancer, and another that examines a new strategy that has shown preliminary positive results for men with treatment-resistant metastatic prostate cancer, alternately flooding and starving the body of testosterone.
In total, AHN and Johns Hopkins together offer cancer patients access to novel therapies being explored in more than 600 active clinical trials between the organizations.
“With this new facility at AGH, we are establishing the academic core of a cancer care model that allows the vast majority of patients to be treated at the highest level in their own communities,” said David Parda, MD, Chair of the AHN Cancer Institute. “At our Academic Center, we will continue to care for the most complex cases, while also helping to advance our knowledge of this disease, develop new standards of care through research and clinical trials, and train the next generation of physicians and other cancer specialists.”
The Academic Center will provide a wide-array of clinical and support services for cancer patients, including, state-of-the-art radiation oncology capabilities; 49 chemotherapy infusion bays; conference and exam rooms with telemedicine capabilities to facilitate peer review and clinical collaboration, tumor boards, collaborative research projects and clinical trials development; a positive image salon; social services; nutritional counseling and financial counseling.
The new facility will house the most advanced cancer fighting technologies available, including one of the nation’s first Gamma Pod systems - a groundbreaking technology that quickly eradicates breast tumors with high precision radiation; Gamma Knife therapy for the non-invasive stereotactic treatment of brain tumors and other complex neurological conditions; and the latest in intensity modulated and image guided radiation therapy for all solid tumors, including one of the first five, state-of-the-art MRI linear accelerator capabilities in the United States.
Located adjacent to the AGH Imaging Center, the Academic Center will provide cancer patients with access to all the advanced modalities that they may need during the course of screening, diagnosis, treatment and survivorship. Close connections with imaging, surgery, pathology and other medical specialties at AGH will help patients at the center navigate all aspects of cancer care with greater efficiency and effectiveness.
The Academic Center will be a four-story structure, with two floors below ground and two above, located on East North Avenue and situated between the hospital’s South Tower and Sandusky Street parking garage. The façade of the structure will feature blue faceted glass with an atrium that preserves the South Tower’s historical features and connects to the hospital’s Magovern Conference Center and front rotunda entrance, providing easy access for cancer patients and families, medical professionals and the community.
Like the new community cancer centers being developed by AHN, the network’s patient-centered philosophy is also reflected in the design and aesthetics of the Academic Center. The facility will feature comfortable waiting areas, exam rooms and treatment areas that maximize privacy, abundant natural light and soft colors. Valet parking will be provided and patients will be greeted by navigators who will help manage their visit and expedite their care.
“Our facility will be designed to help patients and their families be comfortable, informed and empowered in the face of cancer, so that they can maximize their health and well-being and achieve the best possible outcomes,” Dr. Parda said.
###
About Allegheny Health Network
Allegheny Health Network, a Highmark Health Company, is a western Pennsylvania-based integrated healthcare system that serves patients from across a five state region that includes Pennsylvania, Ohio, West Virginia, Maryland and New York. The Network’s Cancer Institute employs more than 200 physicians and 500 oncology professionals who provide a complete spectrum of oncology care at more than 50 affiliated oncology clinics, including access to state-of-the-art technologies and new therapies being explored in clinical cancer trials. The Cancer Institute has the only cancer program in the Pittsburgh region with Integrated Network Cancer Program accreditation by the American College of Surgeons Commission on Cancer, its radiation oncology program is the largest in the country accredited by the American College of Radiology, QOPI, FACT, NAPBC. AHN also has a formal affiliation with the Sidney Kimmel Comprehensive Cancer Center at Johns Hopkins, one of the nation’s 41 comprehensive cancer centers designated by the National Cancer Institute, for research, medical education and clinical services. To schedule an appointment with an AHN oncologist, please call 412.DOCTORS or visit http://www.ahn.org/find-a-doctor.
About Highmark Health
Highmark Health, a Pittsburgh, PA based enterprise that employs more than 40,000 people nationwide and serves nearly 50 million Americans in all 50 states, is the second largest integrated health care delivery and financing network in the nation based on revenue. Highmark Health is the parent company of Highmark Inc., Allegheny Health Network, and HM Health Solutions. Highmark Inc. and its subsidiaries and affiliates provide health insurance to more than 5 million members in Pennsylvania, West Virginia and Delaware as well as dental insurance, vision care and related health products through a national network of diversified businesses that include United Concordia Companies, HM Insurance Group, Davis Vision and Visionworks. Allegheny Health Network is the parent company of an integrated delivery network that includes eight hospitals, more than 2,800 affiliated physicians, ambulatory surgery centers, an employed physician organization, home and community-based health services, a research institute, a group purchasing organization, and health and wellness pavilions in western Pennsylvania. HM Health Solutions focuses on meeting the information technology platform and other business needs of the Highmark Health enterprise as well as unaffiliated health insurance plans by providing proven business processes, expert knowledge and integrated cloud-based platforms. To learn more, please visit http://www.highmarkhealth.org. Reported by PRWeb 18 hours ago.
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eFileMyForms Can Help with IRS Penalties and Affordable Care Act (ACA) Fines
The Internal Revenue Service is issuing steep fines for companies in violation of IRS and Affordable Care Act (ACA) requirements.
LOS ANGELES (PRWEB) March 07, 2018
The Internal Revenue Service is issuing steep fines for companies in violation of Affordable Care Act (ACA) requirements. Fines are for Tax Year 2015, the first year ACA mandates, also referred to as Obamacare, were to be applied. Since late last year, hundreds of companies have received penalty notices amounting to thousands of dollars per employee.
WHAT CAN YOU DO?
While lawyers discuss Obama versus Trump administration policies, the IRS is busy calculating fines for both non-compliance and non-reporting of Form 1095-C Employer-Provided Health Insurance Offer and Coverage. eFileMyForms® provides an easy-to-use reporting mechanism for ACA compliance for Tax Years 2017 / 2016 / 2015. Users can import data to the eFileMyForms site where integrated business rules and validations instantly help identify data related errors that could trigger IRS penalties.
eFileMyForms (EFMF) provides fast IRS feedback so users can determine if their file was Accepted or Rejected. The site simplifies the ACA corrections process to help lower potential penalties. See https://www.efilemyforms.com/ACA_Pricing for an overview of ACA services.
PENNY-WISE AND POUND-FOOLISH
Applicable Large Employers (ALE) may express concern about the cost to late file tax forms. eFileMyForms can Print, Mail and eFile prior year ACA filings. Pricing is always volume based; for example, to file 500 Forms 1095-C is $0.87 per record with a $99 annual subscription fee. The IRS penalty for failure to file an information return is $250 per record with a $3,000,000 cap* plus additional penalties for failure to provide employee statements. The cost for a late filing on eFileMyForms is a fraction of the cost of an IRS penalty. Don’t delay, file today!· Reference https://www.irs.gov/affordable-care-act/employers/information-reporting-by-applicable-large-employers.
THE ACA FILING PROCESS
Filers unfamiliar with the intricacies of ACA compliance appreciate the wealth of support available to them on the eFileMyForms site. The ability to import their 1095 data from Excel increases efficiency and saves time. Further, the site provides sample import files for all supported form types—including Forms 1095-B and 1095-C—to ensure a smooth auto map import process.
eFileMyForms runs customized error checks and validations on all data, whether imported or manually keyed, to help promote IRS compliance. When satisfied with their forms, users complete the associated 1094 Transmittal, place forms in their cart, select a service (“Print/Mail/eFile” or “eFile Only”) and pay. Users can optionally print PDF copies of their ordered forms at any time. Further, eFileMyForms allows users to track the delivery status of forms and individually email encrypted tax forms to recipients. Correction processing is available for any form originally filed via the eFileMyForms site.
UPCOMING IRS DEADLINES
eFileMyForms guarantees that all files submitted to our site on the day of a deadline will be processed that day provided they are received by 7am PST for Print processing and by 12pm PST for eFiling. Learn more about eFileMyForms deadlines—including the option to quickly request an IRS eFiling extension—at https://www.efilemyforms.com/Help/Deadlines.
3/02/2018· 1095-B / 1095-C: Deadline to mail Recipient copies
· 1099-MISC Box 7 (NEC) Amounts: Deadline to eFile for NEC Filers with approved IRS extensions
3/15/2018· 1042-S: Deadline to mail Recipient copies
· 1042-S: Deadline to eFile
4/02/2018· 1095-B / 1095-C: Deadline to eFile
· 1098 / 1099 / W-2G: Deadline to eFile
5/31/2018· 5498 Series: Deadline to mail Recipient copies
· 5498 Series: Deadline to eFile
ABOUT EFILEMYFORMS
eFileMyForms is a company of 1099 Pro, Inc., an established industry leader in tax reporting compliance. Their SSAE 18 SOC I Type II certified facilities prepares 1042-S, 1095, 1098, 1099 (including 1099-MISC), 5498, W-2 and W-2G series forms. Reported by PRWeb 14 hours ago.
LOS ANGELES (PRWEB) March 07, 2018
The Internal Revenue Service is issuing steep fines for companies in violation of Affordable Care Act (ACA) requirements. Fines are for Tax Year 2015, the first year ACA mandates, also referred to as Obamacare, were to be applied. Since late last year, hundreds of companies have received penalty notices amounting to thousands of dollars per employee.
WHAT CAN YOU DO?
While lawyers discuss Obama versus Trump administration policies, the IRS is busy calculating fines for both non-compliance and non-reporting of Form 1095-C Employer-Provided Health Insurance Offer and Coverage. eFileMyForms® provides an easy-to-use reporting mechanism for ACA compliance for Tax Years 2017 / 2016 / 2015. Users can import data to the eFileMyForms site where integrated business rules and validations instantly help identify data related errors that could trigger IRS penalties.
eFileMyForms (EFMF) provides fast IRS feedback so users can determine if their file was Accepted or Rejected. The site simplifies the ACA corrections process to help lower potential penalties. See https://www.efilemyforms.com/ACA_Pricing for an overview of ACA services.
PENNY-WISE AND POUND-FOOLISH
Applicable Large Employers (ALE) may express concern about the cost to late file tax forms. eFileMyForms can Print, Mail and eFile prior year ACA filings. Pricing is always volume based; for example, to file 500 Forms 1095-C is $0.87 per record with a $99 annual subscription fee. The IRS penalty for failure to file an information return is $250 per record with a $3,000,000 cap* plus additional penalties for failure to provide employee statements. The cost for a late filing on eFileMyForms is a fraction of the cost of an IRS penalty. Don’t delay, file today!· Reference https://www.irs.gov/affordable-care-act/employers/information-reporting-by-applicable-large-employers.
THE ACA FILING PROCESS
Filers unfamiliar with the intricacies of ACA compliance appreciate the wealth of support available to them on the eFileMyForms site. The ability to import their 1095 data from Excel increases efficiency and saves time. Further, the site provides sample import files for all supported form types—including Forms 1095-B and 1095-C—to ensure a smooth auto map import process.
eFileMyForms runs customized error checks and validations on all data, whether imported or manually keyed, to help promote IRS compliance. When satisfied with their forms, users complete the associated 1094 Transmittal, place forms in their cart, select a service (“Print/Mail/eFile” or “eFile Only”) and pay. Users can optionally print PDF copies of their ordered forms at any time. Further, eFileMyForms allows users to track the delivery status of forms and individually email encrypted tax forms to recipients. Correction processing is available for any form originally filed via the eFileMyForms site.
UPCOMING IRS DEADLINES
eFileMyForms guarantees that all files submitted to our site on the day of a deadline will be processed that day provided they are received by 7am PST for Print processing and by 12pm PST for eFiling. Learn more about eFileMyForms deadlines—including the option to quickly request an IRS eFiling extension—at https://www.efilemyforms.com/Help/Deadlines.
3/02/2018· 1095-B / 1095-C: Deadline to mail Recipient copies
· 1099-MISC Box 7 (NEC) Amounts: Deadline to eFile for NEC Filers with approved IRS extensions
3/15/2018· 1042-S: Deadline to mail Recipient copies
· 1042-S: Deadline to eFile
4/02/2018· 1095-B / 1095-C: Deadline to eFile
· 1098 / 1099 / W-2G: Deadline to eFile
5/31/2018· 5498 Series: Deadline to mail Recipient copies
· 5498 Series: Deadline to eFile
ABOUT EFILEMYFORMS
eFileMyForms is a company of 1099 Pro, Inc., an established industry leader in tax reporting compliance. Their SSAE 18 SOC I Type II certified facilities prepares 1042-S, 1095, 1098, 1099 (including 1099-MISC), 5498, W-2 and W-2G series forms. Reported by PRWeb 14 hours ago.
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Amazon Offers Discount Prime Membership to Medicaid Recipients
Amazon.com Inc. said on Wednesday it was expanding its discounted Prime membership offer to Medicaid members, the U.S. government's health insurance program for the poor.
Reported by Newsmax 12 hours ago.
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Quick Takes: Jurassic World Gets New Game, UnitedHealthcare Offers Apple Watch to Members, and More
In addition to our standalone articles covering the latest Apple news and rumors at MacRumors, this Quick Takes column provides a bite-sized recap of other headlines about Apple and its competitors on weekdays.
-Wednesday, March 7-*Apple Watch soon available through UnitedHealthcare Motion*: Apple Watch will be integrated into the wellness program, which provides participants with an eligible plan access to activity trackers that can enable them to earn up to $1,000 in incentives per year by meeting certain daily walking goals.
Select program participants will have access to an Apple Watch starting in July, with full availability later this year. The cost of shipping and taxes on the Apple Watch is due upfront, and then participants can apply their earnings towards paying off the cost of the device in as little as six months.
UnitedHealthcare Motion is available to employers with self-funded and fully insured health plans nationwide. The program enables employees to earn up to $4 per day in financial incentives based on achieving F.I.T. goals:
Frequency: complete 500 steps within seven minutes six times per day, at least an hour apart;
Intensity: complete 3,000 steps within 30 minutes; and
Tenacity: complete 10,000 total steps each day.
Commentary: UnitedHealthcare should benefit from offering this program in the long-run by encouraging its customers to live more active lifestyles, ideally resulting in fewer health insurance claims being filed. Similar programs are offered by life and health insurance providers John Hancock and Vitality.
*Universal announces Jurassic World Alive*: The augmented reality game enables players to collect a variety of dinosaurs while exploring their own neighborhoods and cities around the world. Players discover dinosaurs by locating them on a map and deploying an in-game drone to collect DNA samples.
Commentary: Jurassic World Alive sounds a whole lot like Pokémon GO. The game is intended to promote the film Jurassic World: Fallen Kingdom, which debuts in theaters across North America on June 22. Pre-register here.
*Ireland chooses Bank of New York Mellon to manage Apple's escrow fund*: The European Commission ruled in August 2016 that Apple received illegal state aid from Ireland, and ordered the country to collect 15 billion euros (currently $18.6 billion) in back taxes from the iPhone maker.
Commentary: The Bank of New York Mellon will hold the funds while Apple and Ireland both appeal the decision before the European General Court. Apple expects the amount will be reported as restricted cash on its balance sheet.
*Macintosh Portrait Display released on this day in 1989*: The 15-inch display was released for $1,099 alongside the Macintosh IIcx. The grayscale monitor featured a vertical orientation designed to show full pages on a single screen, making it useful for desktop publishing.
Commentary: Apple discontinued the Macintosh Portrait Display in late 1992, but tech specs are still available on its website for those who want to take a trip down memory lane. Nowadays, we wait for Apple to deliver on its promise of a new pro display to succeed the nearly seven year old Thunderbolt Display.
For more Apple news and rumors coverage, visit our Front Page, Mac Blog, and iOS Blog. Also visit our forums to join in the discussion.Tag: Quick Takes
Discuss this article in our forums Reported by MacRumours.com 13 hours ago.
-Wednesday, March 7-*Apple Watch soon available through UnitedHealthcare Motion*: Apple Watch will be integrated into the wellness program, which provides participants with an eligible plan access to activity trackers that can enable them to earn up to $1,000 in incentives per year by meeting certain daily walking goals.
Select program participants will have access to an Apple Watch starting in July, with full availability later this year. The cost of shipping and taxes on the Apple Watch is due upfront, and then participants can apply their earnings towards paying off the cost of the device in as little as six months.
UnitedHealthcare Motion is available to employers with self-funded and fully insured health plans nationwide. The program enables employees to earn up to $4 per day in financial incentives based on achieving F.I.T. goals:
Frequency: complete 500 steps within seven minutes six times per day, at least an hour apart;
Intensity: complete 3,000 steps within 30 minutes; and
Tenacity: complete 10,000 total steps each day.
Commentary: UnitedHealthcare should benefit from offering this program in the long-run by encouraging its customers to live more active lifestyles, ideally resulting in fewer health insurance claims being filed. Similar programs are offered by life and health insurance providers John Hancock and Vitality.
*Universal announces Jurassic World Alive*: The augmented reality game enables players to collect a variety of dinosaurs while exploring their own neighborhoods and cities around the world. Players discover dinosaurs by locating them on a map and deploying an in-game drone to collect DNA samples.
Commentary: Jurassic World Alive sounds a whole lot like Pokémon GO. The game is intended to promote the film Jurassic World: Fallen Kingdom, which debuts in theaters across North America on June 22. Pre-register here.
*Ireland chooses Bank of New York Mellon to manage Apple's escrow fund*: The European Commission ruled in August 2016 that Apple received illegal state aid from Ireland, and ordered the country to collect 15 billion euros (currently $18.6 billion) in back taxes from the iPhone maker.
Commentary: The Bank of New York Mellon will hold the funds while Apple and Ireland both appeal the decision before the European General Court. Apple expects the amount will be reported as restricted cash on its balance sheet.
*Macintosh Portrait Display released on this day in 1989*: The 15-inch display was released for $1,099 alongside the Macintosh IIcx. The grayscale monitor featured a vertical orientation designed to show full pages on a single screen, making it useful for desktop publishing.
Commentary: Apple discontinued the Macintosh Portrait Display in late 1992, but tech specs are still available on its website for those who want to take a trip down memory lane. Nowadays, we wait for Apple to deliver on its promise of a new pro display to succeed the nearly seven year old Thunderbolt Display.
For more Apple news and rumors coverage, visit our Front Page, Mac Blog, and iOS Blog. Also visit our forums to join in the discussion.Tag: Quick Takes
Discuss this article in our forums Reported by MacRumours.com 13 hours ago.
↧
Linde AG: Linde achieves growth targets and announces dividend increase
DGAP-News: Linde AG / Key word(s): Final Results
08.03.2018 / 07:30
The issuer is solely responsible for the content of this announcement.
--------------------
*Linde achieves growth targets and announces dividend increase *
*- 2017 financial year:*
*- Group revenue^[1]: EUR 17.113 bn; up 2.1 percent after adjusting for exchange rate effects*
*- Group operating profit^1,[2]: EUR 4.213 bn; up 4.1 percent after adjusting for exchange rate effects*
*- Group margin: 24.6 percent; increase of 40 basis points*
*- ROCE^[1]: 10.2 percent; increase of 80 basis points *
*- Group outlook for 2018*^3:* Revenue expected to be similar to that generated in 2017 or to increase by up to 4 percent; operating profit expected to rise by up to 5 percent*
*- Completion of merger with Praxair still planned for the second half of 2018*Munich, 8 March 2018 - The technology company The Linde Group delivered a solid performance in the 2017 financial year, achieving increases in both Group revenue and Group operating profit after adjusting for exchange rate effects. The main factors contributing to this performance were continuing positive trends in the EMEA and Asia/Pacific segments and in the Engineering Division. Linde is making more rapid progress with its LIFT efficiency programme than planned.
"We've had a very decent year. We met our targets in full and achieved increases in revenue and earnings after adjusting for exchange rate effects. Our proposed merger with Praxair remains on schedule," said Professor Dr Aldo Belloni, Chief Executive Officer of Linde AG.
The Executive Board and Supervisory Board will propose a resolution at the Annual General Meeting that a dividend of EUR 7.00 per share be paid. In economic terms, the proposed dividend comprises a distribution for the 2017 financial year of EUR 3.90 (2016: EUR 3.70) per Linde share plus a distribution of the expected dividend relating to three quarters of the 2018 financial year of EUR 3.10 per Linde share. Provision was made for this in the Business Combination Agreement between Linde and Praxair to compensate for the fact that the two companies would pay dividends for the year 2018 on different dates. Linde pays an annual dividend for the past financial year, whereas Praxair pays quarterly dividends for the current financial year. The proposed Linde dividend applies not only to the class of shares submitted for exchange, but also to the class of shares not submitted for exchange.
*Stable earnings power maintained in the 2017 financial year*
In the 2017 financial year, Group revenue from continuing operations was EUR 17.113 bn (2016: EUR 16.948 bn). Linde was able to maintain its stable earnings power and achieve an increase in Group operating profit from continuing operations in the 2017 financial year to EUR 4.213 bn, compared with the prior-year figure of EUR 4.098 bn.
After adjusting for exchange rate effects, Group revenue was 2.1 percent higher than in 2016. Group operating profit rose by 4.1 percent after adjusting for exchange rate effects. At 24.6 percent, the Group margin was 40 basis points above the 2016 figure of 24.2 percent.
Profit for the year from continuing operations increased from EUR 1.327 bn in 2016 to EUR 1.536 bn in 2017. This was due to the US tax reform. The reduction in the federal corporate tax rate from 35 percent to 21 percent from 1 January 2018 required a revaluation of deferred taxes. This had a positive non-cash impact of EUR 250 m, reducing the figure for taxes on income accordingly. Earnings per share from continuing operations rose from EUR 6.50 to EUR 7.56. In the 2017 financial year, return on capital employed (ROCE) was 10.2 percent (2016: 9.4 percent). At EUR 3.478 bn, operating cash flow from continuing operations remained at a high level (2016: EUR 3.400 bn).
*Margin in the gases business rises by 20 basis points *
In the Gases Division, revenue increased in the 2017 financial year by 0.6 percent to EUR 14.988 bn (2016: EUR 14.892 bn). After adjusting for exchange rate effects and changes in the price of natural gas, revenue rose by 1.2 percent. Linde was able to achieve an increase in operating profit in the Gases Division of 1.4 percent (or 2.7 percent after adjusting for exchange rate effects) to EUR 4.268 bn (2016: EUR 4.210 bn), giving an operating margin of 28.5 percent (2016: 28.3 percent).
In the EMEA segment, revenue in the 2017 financial year was EUR 5.876 bn, which was 2.4 percent above the figure for 2016 of EUR 5.736 bn. On a comparable basis, Linde achieved an increase in revenue of 2.9 percent. Operating profit in the region improved to EUR 1.874 bn (2016: EUR 1.807 bn). The operating margin rose 40 basis points to 31.9 percent (2016: 31.5 percent).
In the EMEA segment, all product areas saw positive trends. In the on-site business, where the company supplies gases on site to major customers, Linde was able to achieve revenue growth in Germany, Northern Europe and in the Middle East & Eastern Europe as a result of plant start-ups. In the liquefied gases and cylinder gas product areas, increases in revenue were achieved in virtually all regions.
In the Asia/Pacific segment, the revenue trend was positive, with revenue increasing by 6.5 percent to EUR 4.378 bn (2016: EUR 4.109 bn). Operating profit rose by 10.9 percent to EUR 1.202 bn (2016: EUR 1.084 bn). The operating margin was 27.5 percent, also an increase when compared with the prior-year figure (26.4 percent).
Positive trends in all product areas were to be seen in South & East Asia and in China. Solid volume and revenue increases were achieved above all in the liquefied gases and on-site product areas. As far as customer segments are concerned, electronic gases were particularly in demand.
In the Americas segment, revenue fell by 6.2 percent to EUR 4.908 bn (2016: EUR 5.232 bn). On a comparable basis, the decrease in revenue was 5.4 percent. Operating profit dropped by 9.6 percent to EUR 1.192 bn (2016: EUR 1.319 bn). The operating margin fell as a result from 25.2 percent to 24.3 percent. A variety of effects in different directions had an impact on revenue and earnings trends. In the Healthcare business in North America, price reductions as a result of government tenders are continuing to have an effect. Meanwhile, positive trends were to be seen in the liquefied gases and on-site business in North America. In South America, economic conditions remained rather subdued in 2017.
Revenue in the Engineering Division rose in the 2017 financial year by 1.6 percent to EUR 2.388 bn (2016: EUR 2.351 bn). Operating profit increased significantly, by 12.2 percent to EUR 220 m (2016: EUR 196 m). Linde was able to improve its operating margin in this division from 8.3 percent in 2016 to 9.2 percent in 2017. This was due to higher profits on specific plant construction projects and to better capacity utilisation.
There was also an encouraging trend in order intake, which rose by 5.9 percent to EUR 2.390 bn (2016: EUR 2.257 bn). At 31 December 2017, the order backlog remained solid at EUR 4.178 bn (2016: EUR 4.386 bn).
*Outlook*
Given the high level of uncertainty associated with exchange rates, and the fact that exchange rates are outside the company's control, Linde is presenting its revenue and earnings forecasts in the form of percentage ranges after adjustment for exchange rate effects. The 2018 forecasts for Group revenue and the revenue of the Gases Division have also been adjusted for the effect of the first-time application of the new accounting standard IFRS 15 (Revenue from Contracts with Customers). The new standard is effective from 1 January 2018 and will result in a reduction in the revenue figures reported of around EUR 400 m.
After adjusting for the effects of IFRS 15 and exchange rate effects, Group revenue in the 2018 financial year is expected to be similar to that achieved in 2017 or to increase by up to 4 percent. Group operating profit after adjusting for exchange rate effects is expected to be in a range similar to that achieved in 2017 or to increase by up to 5 percent. Linde is seeking to achieve a return on capital employed in the 2018 financial year of around 10 percent. Linde is expecting to incur additional costs in 2018 relating to the proposed merger with Praxair totalling around EUR 150 m. As in previous reporting periods, these will be disclosed as special items. Due to the proposed merger with Praxair and the antitrust conditions which will be imposed as a result, assets will come up for sale in the course of the 2018 financial year. This may lead to an adjustment being made to the forecast.
Outlook - Gases Division
In the on-site business, Linde has a solid project pipeline, which will make a positive contribution to revenue and earnings trends in the 2018 financial year. In the liquefied gases and cylinder gas product areas, performance is largely dependent on the general economic environment. Revenue and earnings trends in the Healthcare business are affected among other things by price reductions imposed by government agencies and health insurance funds. Linde plans to counter this through volume increases, organic growth and acquisitions.
Contingent on the general conditions described above and on economic trends, Linde is seeking to achieve the following targets in the Gases Division in the 2018 financial year. After adjusting for the effects of IFRS 15 and for exchange rate effects, revenue is expected to be similar to that achieved in 2017 or to increase by up to 4 percent. Operating profit after adjusting for exchange rate effects is expected to be in a range similar to that achieved in 2017 or to increase by up to 5 percent. Linde plans to achieve a slight increase in the division's margins in the EMEA, Asia/Pacific and Americas segments. In addition, the application of the new accounting standard IFRS 15 will have a positive impact on the margins.
Outlook - Engineering Division
Linde expects to generate revenue in the Engineering Division in the 2018 financial year of between EUR 2.2 bn and EUR 2.6 bn. It anticipates achieving an operating margin there of around 9 percent.
Proposed merger with Praxair, Inc.
The merger control and regulatory processes are in full swing. Linde is engaged in constructive talks with the relevant authorities and in parallel with potential buyers. Merger approvals have already been received for the following countries: Algeria, Ecuador, Kenya, Pakistan, Paraguay, the Philippines, Russia, South Africa, Turkey and Ukraine. Linde and Praxair continue to assume that they will be able to complete the merger in the second half of 2018 following the timely receipt of all the required approvals.
Note: The 2017 Annual Report of The Linde Group is available online as a pdf:
http://www.the-linde-group.com/en/news_and_media/publications/index.html
To coincide with the publication of the financial statements, a webcast for analysts will take place today at 2 pm German time in English with Professor Dr Aldo Belloni, CEO of Linde AG, and Dr Sven Schneider, CFO of Linde AG. Journalists will have the opportunity to watch the webcast by following this link:
https://event.mescdn.com/linde/fy-2017-results-conference-call
Information about sustainability at Linde can also be found in the Corporate Responsibility Report. In this report, Linde provides information about how the Group combines long-term economic value added with ecological and social responsibility:
www.linde.com/cr-report
In the 2017 financial year, The Linde Group generated revenue of EUR 17.113 bn, making it one of the leading gases and engineering companies in the world, with approximately 58,000 employees working in more than 100 countries worldwide. The strategy of The Linde Group is geared towards long-term profitable growth and focuses on the expansion of its international business, with forward-looking products and services. Linde acts responsibly towards its shareholders, business partners, employees, society and the environment in every one of its business areas, regions and locations across the globe. The company is committed to technologies and products that unite the goals of customer value and sustainable development.
For more information, see The Linde Group online at www.linde.com
*Further information:*
Media Relations
Dr Frank Herkenhoff
Phone +49.89.35757-1320
Matthias Dachwald
Phone +49.89.35757-1333 Investor Relations
Bernard Wang
Phone +49.89.35757-1328
Anne Walther
Phone +49.89.35757-1356
Additional Information and Where To Find It
*Forward-looking Statements*
This communication includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on our beliefs and assumptions on the basis of factors currently known to us. These forward-looking statements are identified by terms and phrases such as: anticipate, believe, intend, estimate, expect, continue, should, could, may, plan, project, predict, will, potential, forecast, and similar expressions. These forward-looking statements include, but are not limited to, statements regarding benefits of the proposed business combination, integration plans and expected synergies, and anticipated future growth, financial and operating performance and results. Forward-looking statements involve risks and uncertainties that may cause actual results to be materially different from the results predicted or expected. No assurance can be given that these forward-looking statements will prove accurate and correct, or that projected or anticipated future results will be achieved. Factors that could cause actual results to differ materially from those indicated in any forward-looking statement include, but are not limited to: the expected timing and likelihood of the completion of the contemplated business combination, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the contemplated business combination that could reduce anticipated benefits or cause the parties to abandon the transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the business combination agreement; the ability to successfully complete the proposed business combination and the exchange offer; regulatory or other limitations imposed as a result of the proposed business combination; the success of the business following the proposed business combination; the ability to successfully integrate the Praxair and Linde businesses; risks related to disruption of management time from ongoing business operations due to the proposed business combination; the risk that the announcement or consummation of the proposed business combination could have adverse effects on the market price of Linde's or Praxair's common stock or the ability of Linde and Praxair to retain customers, retain or hire key personnel, maintain relationships with their respective suppliers and customers, and on their operating results and businesses generally; the risk that Linde plc may be unable to achieve expected synergies or that it may take longer or be more costly than expected to achieve those synergies; state, provincial, federal and foreign legislative and regulatory initiatives that affect cost and investment recovery, have an effect on rate structure, and affect the speed at and degree to which competition enters the industrial gas, engineering and healthcare industries; outcomes of litigation and regulatory investigations, proceedings or inquiries; the timing and extent of changes in commodity prices, interest rates and foreign currency exchange rates; general economic conditions, including the risk of a prolonged economic slowdown or decline, or the risk of delay in a recovery, which can affect the long-term demand for industrial gas, engineering and healthcare and related services; potential effects arising from terrorist attacks and any consequential or other hostilities; changes in environmental, safety and other laws and regulations; the development of alternative energy resources; results and costs of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings and general market and economic conditions; increases in the cost of goods and services required to complete capital projects; the effects of accounting pronouncements issued periodically by accounting standard-setting bodies; conditions of the debt and capital markets; market acceptance of and continued demand for Linde's and Praxair's products and services; changes in tax laws, regulations or interpretations that could increase Praxair's, Linde's or Linde plc's consolidated tax liabilities; and such other factors as are set forth in Linde's annual and interim financial reports made publicly available and Praxair's and Linde plc's public filings made with the SEC from time to time, including but not limited to those described under the headings "Risk Factors" and "Forward-Looking Statements" in Praxair's Form 10-K for the fiscal year ended December 31, 2017, which are available via the SEC's Web site at www.sec.gov. The foregoing list of risk factors is not exhaustive. These risks, as well as other risks associated with the contemplated business combination, are more fully discussed in the proxy statement/prospectus and the offering prospectus included in the Registration Statement on Form S-4 filed by Linde plc with the SEC and in the offering document and/or any prospectuses or supplements filed with BaFin in connection with the contemplated business combination. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Linde, Praxair or Linde plc has described. All such factors are difficult to predict and beyond our control. All forward-looking statements included in this document are based upon information available to Linde, Praxair and Linde plc on the date hereof, and each of Linde, Praxair and Linde plc disclaims and does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
^[1] From continuing operations.
^[2] (before special items) adjusted for the amortisation of intangible assets and the depreciation of tangible assets.
3 After adjusting for IFRS 15 and exchange rate effects.
^[1]
Contact:
Person making the notification: Dr Frank Herkenhoff, Head of External Communications --------------------
08.03.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de --------------------
Language: English
Company: Linde AG
Klosterhofstraße 1
80331 München
Germany
Phone: +49.89.35757-01
Fax: +49.89.35757-1075
E-mail: frank.herkenhoff@linde.com
Internet: www.linde.de
ISIN: DE0006483001, DE000A2E4L75
WKN: 648300, A2E4L7
Indices: DAX
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Munich, Stuttgart; Regulated Unofficial Market in Hanover, Tradegate Exchange; SIX
End of News DGAP News Service Reported by EQS Group 5 hours ago.
08.03.2018 / 07:30
The issuer is solely responsible for the content of this announcement.
--------------------
*Linde achieves growth targets and announces dividend increase *
*- 2017 financial year:*
*- Group revenue^[1]: EUR 17.113 bn; up 2.1 percent after adjusting for exchange rate effects*
*- Group operating profit^1,[2]: EUR 4.213 bn; up 4.1 percent after adjusting for exchange rate effects*
*- Group margin: 24.6 percent; increase of 40 basis points*
*- ROCE^[1]: 10.2 percent; increase of 80 basis points *
*- Group outlook for 2018*^3:* Revenue expected to be similar to that generated in 2017 or to increase by up to 4 percent; operating profit expected to rise by up to 5 percent*
*- Completion of merger with Praxair still planned for the second half of 2018*Munich, 8 March 2018 - The technology company The Linde Group delivered a solid performance in the 2017 financial year, achieving increases in both Group revenue and Group operating profit after adjusting for exchange rate effects. The main factors contributing to this performance were continuing positive trends in the EMEA and Asia/Pacific segments and in the Engineering Division. Linde is making more rapid progress with its LIFT efficiency programme than planned.
"We've had a very decent year. We met our targets in full and achieved increases in revenue and earnings after adjusting for exchange rate effects. Our proposed merger with Praxair remains on schedule," said Professor Dr Aldo Belloni, Chief Executive Officer of Linde AG.
The Executive Board and Supervisory Board will propose a resolution at the Annual General Meeting that a dividend of EUR 7.00 per share be paid. In economic terms, the proposed dividend comprises a distribution for the 2017 financial year of EUR 3.90 (2016: EUR 3.70) per Linde share plus a distribution of the expected dividend relating to three quarters of the 2018 financial year of EUR 3.10 per Linde share. Provision was made for this in the Business Combination Agreement between Linde and Praxair to compensate for the fact that the two companies would pay dividends for the year 2018 on different dates. Linde pays an annual dividend for the past financial year, whereas Praxair pays quarterly dividends for the current financial year. The proposed Linde dividend applies not only to the class of shares submitted for exchange, but also to the class of shares not submitted for exchange.
*Stable earnings power maintained in the 2017 financial year*
In the 2017 financial year, Group revenue from continuing operations was EUR 17.113 bn (2016: EUR 16.948 bn). Linde was able to maintain its stable earnings power and achieve an increase in Group operating profit from continuing operations in the 2017 financial year to EUR 4.213 bn, compared with the prior-year figure of EUR 4.098 bn.
After adjusting for exchange rate effects, Group revenue was 2.1 percent higher than in 2016. Group operating profit rose by 4.1 percent after adjusting for exchange rate effects. At 24.6 percent, the Group margin was 40 basis points above the 2016 figure of 24.2 percent.
Profit for the year from continuing operations increased from EUR 1.327 bn in 2016 to EUR 1.536 bn in 2017. This was due to the US tax reform. The reduction in the federal corporate tax rate from 35 percent to 21 percent from 1 January 2018 required a revaluation of deferred taxes. This had a positive non-cash impact of EUR 250 m, reducing the figure for taxes on income accordingly. Earnings per share from continuing operations rose from EUR 6.50 to EUR 7.56. In the 2017 financial year, return on capital employed (ROCE) was 10.2 percent (2016: 9.4 percent). At EUR 3.478 bn, operating cash flow from continuing operations remained at a high level (2016: EUR 3.400 bn).
*Margin in the gases business rises by 20 basis points *
In the Gases Division, revenue increased in the 2017 financial year by 0.6 percent to EUR 14.988 bn (2016: EUR 14.892 bn). After adjusting for exchange rate effects and changes in the price of natural gas, revenue rose by 1.2 percent. Linde was able to achieve an increase in operating profit in the Gases Division of 1.4 percent (or 2.7 percent after adjusting for exchange rate effects) to EUR 4.268 bn (2016: EUR 4.210 bn), giving an operating margin of 28.5 percent (2016: 28.3 percent).
In the EMEA segment, revenue in the 2017 financial year was EUR 5.876 bn, which was 2.4 percent above the figure for 2016 of EUR 5.736 bn. On a comparable basis, Linde achieved an increase in revenue of 2.9 percent. Operating profit in the region improved to EUR 1.874 bn (2016: EUR 1.807 bn). The operating margin rose 40 basis points to 31.9 percent (2016: 31.5 percent).
In the EMEA segment, all product areas saw positive trends. In the on-site business, where the company supplies gases on site to major customers, Linde was able to achieve revenue growth in Germany, Northern Europe and in the Middle East & Eastern Europe as a result of plant start-ups. In the liquefied gases and cylinder gas product areas, increases in revenue were achieved in virtually all regions.
In the Asia/Pacific segment, the revenue trend was positive, with revenue increasing by 6.5 percent to EUR 4.378 bn (2016: EUR 4.109 bn). Operating profit rose by 10.9 percent to EUR 1.202 bn (2016: EUR 1.084 bn). The operating margin was 27.5 percent, also an increase when compared with the prior-year figure (26.4 percent).
Positive trends in all product areas were to be seen in South & East Asia and in China. Solid volume and revenue increases were achieved above all in the liquefied gases and on-site product areas. As far as customer segments are concerned, electronic gases were particularly in demand.
In the Americas segment, revenue fell by 6.2 percent to EUR 4.908 bn (2016: EUR 5.232 bn). On a comparable basis, the decrease in revenue was 5.4 percent. Operating profit dropped by 9.6 percent to EUR 1.192 bn (2016: EUR 1.319 bn). The operating margin fell as a result from 25.2 percent to 24.3 percent. A variety of effects in different directions had an impact on revenue and earnings trends. In the Healthcare business in North America, price reductions as a result of government tenders are continuing to have an effect. Meanwhile, positive trends were to be seen in the liquefied gases and on-site business in North America. In South America, economic conditions remained rather subdued in 2017.
Revenue in the Engineering Division rose in the 2017 financial year by 1.6 percent to EUR 2.388 bn (2016: EUR 2.351 bn). Operating profit increased significantly, by 12.2 percent to EUR 220 m (2016: EUR 196 m). Linde was able to improve its operating margin in this division from 8.3 percent in 2016 to 9.2 percent in 2017. This was due to higher profits on specific plant construction projects and to better capacity utilisation.
There was also an encouraging trend in order intake, which rose by 5.9 percent to EUR 2.390 bn (2016: EUR 2.257 bn). At 31 December 2017, the order backlog remained solid at EUR 4.178 bn (2016: EUR 4.386 bn).
*Outlook*
Given the high level of uncertainty associated with exchange rates, and the fact that exchange rates are outside the company's control, Linde is presenting its revenue and earnings forecasts in the form of percentage ranges after adjustment for exchange rate effects. The 2018 forecasts for Group revenue and the revenue of the Gases Division have also been adjusted for the effect of the first-time application of the new accounting standard IFRS 15 (Revenue from Contracts with Customers). The new standard is effective from 1 January 2018 and will result in a reduction in the revenue figures reported of around EUR 400 m.
After adjusting for the effects of IFRS 15 and exchange rate effects, Group revenue in the 2018 financial year is expected to be similar to that achieved in 2017 or to increase by up to 4 percent. Group operating profit after adjusting for exchange rate effects is expected to be in a range similar to that achieved in 2017 or to increase by up to 5 percent. Linde is seeking to achieve a return on capital employed in the 2018 financial year of around 10 percent. Linde is expecting to incur additional costs in 2018 relating to the proposed merger with Praxair totalling around EUR 150 m. As in previous reporting periods, these will be disclosed as special items. Due to the proposed merger with Praxair and the antitrust conditions which will be imposed as a result, assets will come up for sale in the course of the 2018 financial year. This may lead to an adjustment being made to the forecast.
Outlook - Gases Division
In the on-site business, Linde has a solid project pipeline, which will make a positive contribution to revenue and earnings trends in the 2018 financial year. In the liquefied gases and cylinder gas product areas, performance is largely dependent on the general economic environment. Revenue and earnings trends in the Healthcare business are affected among other things by price reductions imposed by government agencies and health insurance funds. Linde plans to counter this through volume increases, organic growth and acquisitions.
Contingent on the general conditions described above and on economic trends, Linde is seeking to achieve the following targets in the Gases Division in the 2018 financial year. After adjusting for the effects of IFRS 15 and for exchange rate effects, revenue is expected to be similar to that achieved in 2017 or to increase by up to 4 percent. Operating profit after adjusting for exchange rate effects is expected to be in a range similar to that achieved in 2017 or to increase by up to 5 percent. Linde plans to achieve a slight increase in the division's margins in the EMEA, Asia/Pacific and Americas segments. In addition, the application of the new accounting standard IFRS 15 will have a positive impact on the margins.
Outlook - Engineering Division
Linde expects to generate revenue in the Engineering Division in the 2018 financial year of between EUR 2.2 bn and EUR 2.6 bn. It anticipates achieving an operating margin there of around 9 percent.
Proposed merger with Praxair, Inc.
The merger control and regulatory processes are in full swing. Linde is engaged in constructive talks with the relevant authorities and in parallel with potential buyers. Merger approvals have already been received for the following countries: Algeria, Ecuador, Kenya, Pakistan, Paraguay, the Philippines, Russia, South Africa, Turkey and Ukraine. Linde and Praxair continue to assume that they will be able to complete the merger in the second half of 2018 following the timely receipt of all the required approvals.
Note: The 2017 Annual Report of The Linde Group is available online as a pdf:
http://www.the-linde-group.com/en/news_and_media/publications/index.html
To coincide with the publication of the financial statements, a webcast for analysts will take place today at 2 pm German time in English with Professor Dr Aldo Belloni, CEO of Linde AG, and Dr Sven Schneider, CFO of Linde AG. Journalists will have the opportunity to watch the webcast by following this link:
https://event.mescdn.com/linde/fy-2017-results-conference-call
Information about sustainability at Linde can also be found in the Corporate Responsibility Report. In this report, Linde provides information about how the Group combines long-term economic value added with ecological and social responsibility:
www.linde.com/cr-report
In the 2017 financial year, The Linde Group generated revenue of EUR 17.113 bn, making it one of the leading gases and engineering companies in the world, with approximately 58,000 employees working in more than 100 countries worldwide. The strategy of The Linde Group is geared towards long-term profitable growth and focuses on the expansion of its international business, with forward-looking products and services. Linde acts responsibly towards its shareholders, business partners, employees, society and the environment in every one of its business areas, regions and locations across the globe. The company is committed to technologies and products that unite the goals of customer value and sustainable development.
For more information, see The Linde Group online at www.linde.com
*Further information:*
Media Relations
Dr Frank Herkenhoff
Phone +49.89.35757-1320
Matthias Dachwald
Phone +49.89.35757-1333 Investor Relations
Bernard Wang
Phone +49.89.35757-1328
Anne Walther
Phone +49.89.35757-1356
Additional Information and Where To Find It
*Forward-looking Statements*
This communication includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on our beliefs and assumptions on the basis of factors currently known to us. These forward-looking statements are identified by terms and phrases such as: anticipate, believe, intend, estimate, expect, continue, should, could, may, plan, project, predict, will, potential, forecast, and similar expressions. These forward-looking statements include, but are not limited to, statements regarding benefits of the proposed business combination, integration plans and expected synergies, and anticipated future growth, financial and operating performance and results. Forward-looking statements involve risks and uncertainties that may cause actual results to be materially different from the results predicted or expected. No assurance can be given that these forward-looking statements will prove accurate and correct, or that projected or anticipated future results will be achieved. Factors that could cause actual results to differ materially from those indicated in any forward-looking statement include, but are not limited to: the expected timing and likelihood of the completion of the contemplated business combination, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the contemplated business combination that could reduce anticipated benefits or cause the parties to abandon the transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the business combination agreement; the ability to successfully complete the proposed business combination and the exchange offer; regulatory or other limitations imposed as a result of the proposed business combination; the success of the business following the proposed business combination; the ability to successfully integrate the Praxair and Linde businesses; risks related to disruption of management time from ongoing business operations due to the proposed business combination; the risk that the announcement or consummation of the proposed business combination could have adverse effects on the market price of Linde's or Praxair's common stock or the ability of Linde and Praxair to retain customers, retain or hire key personnel, maintain relationships with their respective suppliers and customers, and on their operating results and businesses generally; the risk that Linde plc may be unable to achieve expected synergies or that it may take longer or be more costly than expected to achieve those synergies; state, provincial, federal and foreign legislative and regulatory initiatives that affect cost and investment recovery, have an effect on rate structure, and affect the speed at and degree to which competition enters the industrial gas, engineering and healthcare industries; outcomes of litigation and regulatory investigations, proceedings or inquiries; the timing and extent of changes in commodity prices, interest rates and foreign currency exchange rates; general economic conditions, including the risk of a prolonged economic slowdown or decline, or the risk of delay in a recovery, which can affect the long-term demand for industrial gas, engineering and healthcare and related services; potential effects arising from terrorist attacks and any consequential or other hostilities; changes in environmental, safety and other laws and regulations; the development of alternative energy resources; results and costs of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings and general market and economic conditions; increases in the cost of goods and services required to complete capital projects; the effects of accounting pronouncements issued periodically by accounting standard-setting bodies; conditions of the debt and capital markets; market acceptance of and continued demand for Linde's and Praxair's products and services; changes in tax laws, regulations or interpretations that could increase Praxair's, Linde's or Linde plc's consolidated tax liabilities; and such other factors as are set forth in Linde's annual and interim financial reports made publicly available and Praxair's and Linde plc's public filings made with the SEC from time to time, including but not limited to those described under the headings "Risk Factors" and "Forward-Looking Statements" in Praxair's Form 10-K for the fiscal year ended December 31, 2017, which are available via the SEC's Web site at www.sec.gov. The foregoing list of risk factors is not exhaustive. These risks, as well as other risks associated with the contemplated business combination, are more fully discussed in the proxy statement/prospectus and the offering prospectus included in the Registration Statement on Form S-4 filed by Linde plc with the SEC and in the offering document and/or any prospectuses or supplements filed with BaFin in connection with the contemplated business combination. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Linde, Praxair or Linde plc has described. All such factors are difficult to predict and beyond our control. All forward-looking statements included in this document are based upon information available to Linde, Praxair and Linde plc on the date hereof, and each of Linde, Praxair and Linde plc disclaims and does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
^[1] From continuing operations.
^[2] (before special items) adjusted for the amortisation of intangible assets and the depreciation of tangible assets.
3 After adjusting for IFRS 15 and exchange rate effects.
^[1]
Contact:
Person making the notification: Dr Frank Herkenhoff, Head of External Communications --------------------
08.03.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de --------------------
Language: English
Company: Linde AG
Klosterhofstraße 1
80331 München
Germany
Phone: +49.89.35757-01
Fax: +49.89.35757-1075
E-mail: frank.herkenhoff@linde.com
Internet: www.linde.de
ISIN: DE0006483001, DE000A2E4L75
WKN: 648300, A2E4L7
Indices: DAX
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Munich, Stuttgart; Regulated Unofficial Market in Hanover, Tradegate Exchange; SIX
End of News DGAP News Service Reported by EQS Group 5 hours ago.
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DealBook Briefing: What Cigna’s Big Deal Reveals About Health Care
Buying Express Scripts will create a potent union of health insurance and prescription drug plans — and shows the industry craves huge mergers.
Reported by NYTimes.com 22 hours ago.
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Cigna is buying massive pharma middleman Express Scripts for $67 billion in a move that changes the industry as we know it (CI, ESRX)
· *Cigna is acquiring Express Scripts, the largest standalone pharmacy benefits manager, in a $67 billion deal that includes $15 billion of debt.*· *Express Scripts is one of the three massive pharmacy benefit managers that help negotiate lower prices for prescription drugs. The other two are OptumRx and CVS Caremark. *
· *The acquisition, which also brings a pharmacy benefits under the same roof as a health insurer, comes at a time when the entire healthcare business is being redrawn by takeovers.
*
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Cigna is buying Express Scripts in a $67 billion deal.
The health insurer is acquiring the pharmacy benefit manager in a deal that assumes $15 billion of Express Scripts' debt, and consists of $48.75 in cash and 0.2434 shares in the combined company. Without the debt, the deal totals about $54 billion.
Express Scripts is one of the three massive PBMs that help negotiate lower prices for prescription drugs in the form of rebates on behalf of health plans. It was the only major PBM to stand on its own and its stock has been weathering news that Amazon is interested in getting into healthcare.
The move brings medical benefits and prescription benefits under one roof at a time when prescription costs for new medications are getting to be as high as some medical procedures.
"Adding our company's leadership in pharmacy and medical benefit management, technology-powered clinical solutions, and specialized patient care model to Cigna’s track record of delivering value through innovation, we are positioned to transform healthcare," Express Scripts CEO Tim Wentworth said in a news release Thursday.
*What this means for healthcare*
The boundaries of the healthcare business are changing. Instead of growing by acquiring other companies in the same business, companies have started to move into new lines of business, with no two combinations looking exactly the same.
It's part of a push by healthcare companies to do two things: cut costs, and gain more control over the patients in need of their services. It's coming at the same time large tech companies are eyeing ways to disrupt the healthcare industry as it faces entirely new medications that challenge the existing way we pay for treatments.
Should the deal go through, Cigna wouldn't be alone in controlling both the insurer and PBM part of paying for prescriptions. UnitedHealthcare, for example, owns the PBM OptumRx, while Anthem, which owns a variety of Blue Cross Blue Shield health insurance firms, will be launching its own PBM called IngenioRx, and with the CVS Health-Aetna deal, CVS Caremark and Aetna would be under the same roof as well.
With the acquisition, Cigna could have more oversight into who's paying for prescriptions.
*SEE ALSO: The entire healthcare business is being redrawn — and it's anybody's guess what's going to happen next*
Join the conversation about this story »
NOW WATCH: Goldman Sachs investment chief: Bitcoin is definitely a bubble, Ethereum even more so Reported by Business Insider 22 hours ago.
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Express Scripts' stock soars on US$54bn CIGNA takeover deal
Express Scripts Holding Co (NASDAQ:ESRX) stock was up sharply in Thursday’s premarket deals after Cigna Corporation (NYSE:CI) said it is buying its rival health insurance company in a US$54bn transaction. The takeover offer comprises US$48.75 per share in cash, as well as stock, equivalent to 0.2434 Cigna shares for every Express Scripts share - representing a 31% premium to the Express Scripts price before the deal was announced. READ: Express Scripts to cap diabetes drugs spending costs for patients David Cordani, Cigna chief executive, in a statement, said: “Cigna’s acquisition of Express Scripts brings together two complementary customer-centric services companies, well-positioned to drive greater quality and affordability for customers.” He added: “This combination accelerates Cigna’s enterprise mission of improving the health, well-being and sense of security of those we serve, and in turn, expanding the breadth of services for our customers, partners, clients, health plans and communities. “Together, we will create an expanded portfolio of health services, delivering greater consumer choice, closer alignment between the customer and health care provider, and more personalized value.” Meanwhile, Express Scripts chief executive Tim Wentworth told investors that the combination “delivers attractive value” to his shareholders. "Together, our two organizations will help make the healthiest choices the easiest choices, putting health and pharmacy services within reach of everyone we serve,” Wentworth said. “Adding our company's leadership in pharmacy and medical benefit management, technology-powered clinical solutions, and specialized patient care model to Cigna’s track record of delivering value through innovation, we are positioned to transform healthcare.” Express Scripts stock rose US$12.78 or 17.4% to trade at US$73.42 ahead of Thursday’s open, whereas Cigna was down US$9.50 or 4.89% at US$183.50.
Reported by Proactive Investors 21 hours ago.
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Express Scripts Holding Co stock soars on US$54bn CIGNA takeover deal
Express Scripts Holding Co (NASDAQ:ESRX) stock was up sharply in Thursday’s premarket deals after Cigna Corporation (NYSE:CI) unveiled it is buying its rival health insurance company in a US$54bn transaction. The takeover offer comprises US$48.75 per share of cash as well as stock, equivalent to 0.2434 Cigna shares for every Express Scripts share - it represents a 31% premium to the Express Scripts price before the deal was announced. David Cordani, Cigna chief executive, in a statement, said: “Cigna’s acquisition of Express Scripts brings together two complementary customer-centric services companies, well-positioned to drive greater quality and affordability for customers.” He added: “This combination accelerates Cigna’s enterprise mission of improving the health, well-being and sense of security of those we serve, and in turn, expanding the breadth of services for our customers, partners, clients, health plans and communities. “Together, we will create an expanded portfolio of health services, delivering greater consumer choice, closer alignment between the customer and health care provider, and more personalized value.” Meanwhile, Express Scripts chief executive Tim Wentworth told investors that the combination “delivers attractive value” to his shareholders. "Together, our two organizations will help make the healthiest choices the easiest choices, putting health and pharmacy services within reach of everyone we serve,” Wentworth said. “Adding our company's leadership in pharmacy and medical benefit management, technology-powered clinical solutions, and specialized patient care model to Cigna’s track record of delivering value through innovation, we are positioned to transform healthcare.” Express Scripts stock rose US$12.78 or 17.4% to trade at US$73.42 ahead of Thursday’s open, whereas Cigna was down US$9.50 or 4.89% at US$183.50.
Reported by Proactive Investors 23 hours ago.
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ChenMed Celebrates 28% Membership Growth in 2017
Dedicated Senior Medical Center to Triple in Size in 2018
MIAMI (PRWEB) March 08, 2018
ChenMed, one of the nation's leading primary care providers, today announced it expects 2018 to be a banner year for its more than 40 practices in six states, as well as for 10 new Dedicated Senior Medical Centers opening in Philadelphia plus Jacksonville, Tampa, Largo and Bradenton, Florida. Leases have been signed and construction is being expedited by the innovative Medicare Advantage provider that achieved 28 percent growth in 2017 membership, while individual Medicare Advantage plan memberships in the United States grew by just 6.1 percent.
"Our percent of growth is nearly five times that achieved by all of the nation's health insurance companies selling individual Medicare Advantage plans in 2017," notes Christopher Chen, MD, ChenMed CEO. "This is a big deal for tens of thousands of older adults in Florida, Georgia, Illinois, Kentucky, Louisiana, Pennsylvania and Virginia. Medicare Advantage is precisely what enables ChenMed doctors to help seniors consistently enjoy substantively more healthy days, significantly fewer in-patient hospital admissions, and far fewer emergency room visits than County-specific averages reported by the Centers for Medicaid and Medicare Services."
ChenMed's aggressive 2018 growth plans include expanding its total medical practice footprint to 53 centers in seven states; and increasing the number of its Florida centers by 36 percent. "We're opening four new Dedicated Senior Medical Centers in Philadelphia, plus three in Jacksonville, plus two more in Tampa Bay, plus one in Bradenton," says Gaurov Dayal, MD, ChenMed President, New Markets and Chief Growth Officer. "With Dedicated coming to their neighborhoods, thousands more at-risk seniors finally will have primary care physician champions for their total health and well-being."
Three of ChenMed's most gifted physician leaders, Susan Schayes, MD, MPH, FAAFP, Jorge Alfonso, MD, and Maina Gatonye, MD, have been promoted after years of exemplary service. ChenMed National Director of Primary Care and Regional Chief Medical Officer (RCMO) Schayes will oversee Dedicated's clinical entry into the highly competitive Philadelphia market. Dr. Alfonso, ChenMed RCMO Florida South is now on point to ensure clinical excellence at six Chen Senior Medical Centers in Central Miami, plus five Dedicated campuses in Tampa Bay, one in Bradenton and two in Lakeland, Florida. Dr. Gatonye, RCMO Florida North, now provides best-in-class oversight for six Chen Senior Medical Centers in Northern Miami, plus three new Dedicated practices in Jacksonville.
ChenMed senior medical centers provide access to high-quality, concierge-style care for some of the neediest patients. ChenMed focuses on preventative care and services including courtesy transportation, on-site specialists and medication dispensing, and, importantly, more face-to-face time with physicians.
ChenMed's model of high-touch care has proven to drive successful patient outcomes. A recent report released by ChenMed showed that its doctors spend 189 minutes face-to-face with each patient annually - more than nine times the national average. As a result, ChenMed rates of emergency room visits are 33.6 percent lower than the national average among Medicare beneficiaries. ChenMed patients also average 28 percent fewer in-patient hospital admissions and 25 percent fewer in-patient days than the average Medicare beneficiary.
About ChenMed
For seniors most in need of care, high-quality health care is too often beyond reach. ChenMed was founded to bring concierge-style medicine - and better health outcomes - to the neediest populations. ChenMed serves seniors with low-to-moderate incomes, most managing multiple chronic conditions, in what by August should be 53 senior medical centers in 13 markets.
ChenMed's mission is to honor seniors with affordable VIP care that delivers better health. To do that, ChenMed relies on innovative technology and a talented, resourceful and compassionate team of providers. Founded by Dr. James Chen, a Taiwanese immigrant and cancer survivor, the company's well-known brands include Chen Senior Medical Center, Dedicated Senior Medical Center, and JenCare Senior Medical Center. Reported by PRWeb 21 hours ago.
MIAMI (PRWEB) March 08, 2018
ChenMed, one of the nation's leading primary care providers, today announced it expects 2018 to be a banner year for its more than 40 practices in six states, as well as for 10 new Dedicated Senior Medical Centers opening in Philadelphia plus Jacksonville, Tampa, Largo and Bradenton, Florida. Leases have been signed and construction is being expedited by the innovative Medicare Advantage provider that achieved 28 percent growth in 2017 membership, while individual Medicare Advantage plan memberships in the United States grew by just 6.1 percent.
"Our percent of growth is nearly five times that achieved by all of the nation's health insurance companies selling individual Medicare Advantage plans in 2017," notes Christopher Chen, MD, ChenMed CEO. "This is a big deal for tens of thousands of older adults in Florida, Georgia, Illinois, Kentucky, Louisiana, Pennsylvania and Virginia. Medicare Advantage is precisely what enables ChenMed doctors to help seniors consistently enjoy substantively more healthy days, significantly fewer in-patient hospital admissions, and far fewer emergency room visits than County-specific averages reported by the Centers for Medicaid and Medicare Services."
ChenMed's aggressive 2018 growth plans include expanding its total medical practice footprint to 53 centers in seven states; and increasing the number of its Florida centers by 36 percent. "We're opening four new Dedicated Senior Medical Centers in Philadelphia, plus three in Jacksonville, plus two more in Tampa Bay, plus one in Bradenton," says Gaurov Dayal, MD, ChenMed President, New Markets and Chief Growth Officer. "With Dedicated coming to their neighborhoods, thousands more at-risk seniors finally will have primary care physician champions for their total health and well-being."
Three of ChenMed's most gifted physician leaders, Susan Schayes, MD, MPH, FAAFP, Jorge Alfonso, MD, and Maina Gatonye, MD, have been promoted after years of exemplary service. ChenMed National Director of Primary Care and Regional Chief Medical Officer (RCMO) Schayes will oversee Dedicated's clinical entry into the highly competitive Philadelphia market. Dr. Alfonso, ChenMed RCMO Florida South is now on point to ensure clinical excellence at six Chen Senior Medical Centers in Central Miami, plus five Dedicated campuses in Tampa Bay, one in Bradenton and two in Lakeland, Florida. Dr. Gatonye, RCMO Florida North, now provides best-in-class oversight for six Chen Senior Medical Centers in Northern Miami, plus three new Dedicated practices in Jacksonville.
ChenMed senior medical centers provide access to high-quality, concierge-style care for some of the neediest patients. ChenMed focuses on preventative care and services including courtesy transportation, on-site specialists and medication dispensing, and, importantly, more face-to-face time with physicians.
ChenMed's model of high-touch care has proven to drive successful patient outcomes. A recent report released by ChenMed showed that its doctors spend 189 minutes face-to-face with each patient annually - more than nine times the national average. As a result, ChenMed rates of emergency room visits are 33.6 percent lower than the national average among Medicare beneficiaries. ChenMed patients also average 28 percent fewer in-patient hospital admissions and 25 percent fewer in-patient days than the average Medicare beneficiary.
About ChenMed
For seniors most in need of care, high-quality health care is too often beyond reach. ChenMed was founded to bring concierge-style medicine - and better health outcomes - to the neediest populations. ChenMed serves seniors with low-to-moderate incomes, most managing multiple chronic conditions, in what by August should be 53 senior medical centers in 13 markets.
ChenMed's mission is to honor seniors with affordable VIP care that delivers better health. To do that, ChenMed relies on innovative technology and a talented, resourceful and compassionate team of providers. Founded by Dr. James Chen, a Taiwanese immigrant and cancer survivor, the company's well-known brands include Chen Senior Medical Center, Dedicated Senior Medical Center, and JenCare Senior Medical Center. Reported by PRWeb 21 hours ago.
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New York to Host AATOD 2018, Largest Global Gathering of Policy Makers, Experts
1,800+ opioid-addiction treatment providers and policy officials attend, representing every state in the US and countries around the world
NEW YORK (PRWEB) March 08, 2018
MEDIA ALERT – Addressing the Opioid Crisis
New York to Host AATOD 2018, Largest Global Gathering of Policy Makers, Experts
When: Saturday, March 10 through Wednesday, March 14, 2018
Where: New York Marriott Marquis Hotel, 1535 Broadway, New York, NY 10036
What: American Association for the Treatment of Opioid Dependence (AATOD) 2018 Conference:
“Advancing & Integrating Specialized Addiction Treatment & Recovery”
Co-hosted by: New York State Office of Alcoholism and Substance Abuse Services (OASAS)
Coalition of Medication-Assisted Treatment Providers and Advocates of NY State (COMPA)
>Speakers include: Gov. Chris Christie, Patrick J. Kennedy, Elinore McCance-Katz
Why: Over 100 Americans DIE EACH DAY from an opioid overdose – Heroin-related deaths are up 286% from 2002 – In any given day, 41,000+ people receive opioid addiction treatment services from NY State – Optimal treatment of affected individuals is critical to curbing the epidemic
Event Summary:· 1,800+ opioid-addiction treatment providers and policy officials attend, representing every state in the US and countries around the world
· 200+ presentations focus on cutting-edge policy and new clinical findings from municipal, state, national and international organizations/groups
· Special Session of World Federation for the Treatment of Opioid Dependence to take place during AATOD 2018, on Sunday, March 11
VIP Speaker Highlights -- Open to News Media:
Monday, March 12: 8:45 –10:15 AM -- Opening Plenary: Arlene González-Sánchez, OASAS Commissioner; Mark W. Parrino, MPA, President, AATOD; Icro Maremmani, MD, President, World Federation for the Treatment of Opioid Dependence; moderated by Allegra Schorr, President, COMPA
Evening Awards: 8:45-9:30 PM (Media arrive by 8:30 PM) -- Presentation of AATOD “Friend of the Field” Award to Governor Chris Christie:
“I am proud to receive AATOD's prestigious Friend of the Field award, but more importantly, proud to shine a light on this crisis. As the 55th Governor of New Jersey and as Chairman of the President's Commission on Combating Drug Addiction and the Opioid Crisis, I have worked to end the stigma on the opioid crisis and change public policy to make treatment more readily available. Working with groups like AATOD we have accomplished much, but much more remains to do. I thank AATOD and its Board for this award and look forward to working together on solutions for opioid treatment policies.”
Tuesday, March 13: 8:45 –10:15 AM -- Middle Plenary: Jason A. Helgerson, MPP, Deputy Commissioner/New York State Medicaid Director, NYDOH Office of Health Insurance Programs
Wednesday, March 14: 11:30 –1:00 AM-- Closing Plenary: Patrick J. Kennedy, former U.S. Representative (D-RI) and member of the President’s Commission on Combatting Drug Addiction and the Opioid Crisis; Dr. Elinore McCance-Katz, Assistant Secretary for Health and Substance Use, DHHS; moderated by Allegra Schorr, COMPA
Call in advance to secure onsite interviews; same-day requests honored as possible.
Press to register on 5th floor. Pre-registration is possible. #aatod2018
Contact:
Bill Gordon
PR/Media Relations
646-924-6146
Billgordon37(at)hotmail.com
Mark W. Parrino, M.P.A
President, AATOD
212.566.5555, x200
Mark.Parrino(at)aatod.org Reported by PRWeb 16 hours ago.
NEW YORK (PRWEB) March 08, 2018
MEDIA ALERT – Addressing the Opioid Crisis
New York to Host AATOD 2018, Largest Global Gathering of Policy Makers, Experts
When: Saturday, March 10 through Wednesday, March 14, 2018
Where: New York Marriott Marquis Hotel, 1535 Broadway, New York, NY 10036
What: American Association for the Treatment of Opioid Dependence (AATOD) 2018 Conference:
“Advancing & Integrating Specialized Addiction Treatment & Recovery”
Co-hosted by: New York State Office of Alcoholism and Substance Abuse Services (OASAS)
Coalition of Medication-Assisted Treatment Providers and Advocates of NY State (COMPA)
>Speakers include: Gov. Chris Christie, Patrick J. Kennedy, Elinore McCance-Katz
Why: Over 100 Americans DIE EACH DAY from an opioid overdose – Heroin-related deaths are up 286% from 2002 – In any given day, 41,000+ people receive opioid addiction treatment services from NY State – Optimal treatment of affected individuals is critical to curbing the epidemic
Event Summary:· 1,800+ opioid-addiction treatment providers and policy officials attend, representing every state in the US and countries around the world
· 200+ presentations focus on cutting-edge policy and new clinical findings from municipal, state, national and international organizations/groups
· Special Session of World Federation for the Treatment of Opioid Dependence to take place during AATOD 2018, on Sunday, March 11
VIP Speaker Highlights -- Open to News Media:
Monday, March 12: 8:45 –10:15 AM -- Opening Plenary: Arlene González-Sánchez, OASAS Commissioner; Mark W. Parrino, MPA, President, AATOD; Icro Maremmani, MD, President, World Federation for the Treatment of Opioid Dependence; moderated by Allegra Schorr, President, COMPA
Evening Awards: 8:45-9:30 PM (Media arrive by 8:30 PM) -- Presentation of AATOD “Friend of the Field” Award to Governor Chris Christie:
“I am proud to receive AATOD's prestigious Friend of the Field award, but more importantly, proud to shine a light on this crisis. As the 55th Governor of New Jersey and as Chairman of the President's Commission on Combating Drug Addiction and the Opioid Crisis, I have worked to end the stigma on the opioid crisis and change public policy to make treatment more readily available. Working with groups like AATOD we have accomplished much, but much more remains to do. I thank AATOD and its Board for this award and look forward to working together on solutions for opioid treatment policies.”
Tuesday, March 13: 8:45 –10:15 AM -- Middle Plenary: Jason A. Helgerson, MPP, Deputy Commissioner/New York State Medicaid Director, NYDOH Office of Health Insurance Programs
Wednesday, March 14: 11:30 –1:00 AM-- Closing Plenary: Patrick J. Kennedy, former U.S. Representative (D-RI) and member of the President’s Commission on Combatting Drug Addiction and the Opioid Crisis; Dr. Elinore McCance-Katz, Assistant Secretary for Health and Substance Use, DHHS; moderated by Allegra Schorr, COMPA
Call in advance to secure onsite interviews; same-day requests honored as possible.
Press to register on 5th floor. Pre-registration is possible. #aatod2018
Contact:
Bill Gordon
PR/Media Relations
646-924-6146
Billgordon37(at)hotmail.com
Mark W. Parrino, M.P.A
President, AATOD
212.566.5555, x200
Mark.Parrino(at)aatod.org Reported by PRWeb 16 hours ago.
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Cigna agrees to buy Express Scripts in major health care deal
Health insurance giant Cigna said Thursday that it has agreed to buy Express Scripts, the largest pharmacy benefit manager in the United States, in a $52 billion deal that would further reshape the health care industry. The deal is the latest in a recent wave of consolidation across the health care sector, which has been marked by spiraling costs and roiled by Amazon’s announcement in January that it was teaming up with Berkshire Hathaway and JPMorgan Chase to try to simplify coverage, a move that unsettled established industry players. The changes across the health care landscape come amid widespread frustration among U.S.
Reported by SFGate 13 hours ago.
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US to Idaho: ‘State-based’ health plans don’t pass muster
BOISE, Idaho (AP) — Federal officials say Idaho’s move to let companies offer health insurance plans that don’t meet Affordable Care Act standards is illegal. Centers for Medicare and Medicaid Services Administrator Seema Verma issued a letter to Idaho Gov. C.L. “Butch” Otter and Idaho Department of Insurance Director Dean Cameron on Thursday, reminding officials […]
Reported by Seattle Times 11 hours ago.
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Honeywell retirees at Michigan factory lose insurance appeal
BOYNE CITY, Mich. (AP) — A federal appeals court has overturned a decision that preserved health insurance for retirees who worked at Honeywell International in northern Michigan. Honeywell was sued by roughly 50 people who said the company had promised to provide benefits until age 65. A federal judge in Grand Rapids stepped in and […]
Reported by Seattle Times 11 hours ago.
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In a surprise move, Trump administration nixes Idaho's plan to sell junk health insurance to the masses
The Trump administration proactively enforcing the Affordable Care Act may have the flavor of a “man bites dog” story, but on Thursday it actually did so. Medicare Administrator Seema Verma flatly rejected Idaho’s plan to allow insurers in the state to scrap the ACA’s consumer protection rules.
... Reported by L.A. Times 11 hours ago.
... Reported by L.A. Times 11 hours ago.
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Don’t have insurance? Get a life and health insurance combi plan
As you grow older and have a family, you will realise that life and health insurance are fundamental for a sound financial future.
Reported by Zee News 8 hours ago.
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Balkan EU States ‘Need Reforms To Sustain Economic Growth’
By Relja Dusek
The European Commission’s latest report said that the economies in EU member states Bulgaria, Croatia and Romania grew in 2017, but all of them failed to complete much-needed structural reforms.
The economies of Croatia, Bulgaria and Romania showed some improvements last year, but all three countries face challenges to boost growth further in 2018, said the latest European Commission country report, published on Wednesday.
*Bulgaria: Growth to slow but remain strong*
Bulgaria’s GDP growth in 2017 is estimated to have been 3.8 percent. In 2018 and 2019, GDP is expected to slow down but remain strong.
Despite the robust growth that is driven mainly by domestic demand, the country is catching up with the rest of the EU slowly, says the European Commission report.
In 2017, the unemployment rate decreased substantially to 6.3 per cent, while employment rates increased.
With a balanced government budget and decreased public debt, the fiscal outlook remains positive with a room to address economic and social challenges, according to the report.
The report says that Bulgaria has made “some progress in tax collection, in stepping up enforcement measures to reduce the informal economy and undeclared work, in taking follow up measures on the financial sector reviews, in facilitating the reduction of non-performing corporate loans, in improving the targeting of active labour market policies and the integration between employment and social services.”
The government however made limited progress in increasing the quality of education and health insurance coverage, reducing out-of-pocket payments and establishing a transparent mechanism for setting the minimum wage.
The Commission also warns of vulnerability in the financial sector, high private debt, and persisting challenges in the labour market.
*Croatia: Growth to depend on reforms*
Croatia requires structural reforms and its economic growth will increasingly depend on the capacity to implement them, the report says.
So far, the government has been unsuccessful in the implementation of the much-needed reforms, it warns.
The country has made limited progress in fiscal policy, social benefits are too large and a pension system reform has been postponed, it argues.
Mayor public administration reforms are largely at a standstill while educational reform is still pending, the report notes.
Some progress has been made in the sale of shares in state-owned enterprises and backlogs in the judicial system have been marginally reduced.
GDP growth rate in 2017 is projected to have remained at 3.2 percent, and the country’s recovery is expected to continue in the next two years but with lower growth rates.
Croatia faces challenges related to equal opportunities, access to the labour market and fair working condition, the Commission says.
Although unemployment has been reduced to 11.1 percent, the employment rate remains comparatively low, and a serious problem is migration outflows.
*Romania: Buoyant growth could be unsustainable*
The European Commission warns in its report that “Romania’s buoyant economic growth risks setting the stage for a hard landing”.
There is an absence of structural reforms and fiscal consolidation, the report says.
GDP growth of 6.7 percent in 2017 has been driven mainly by consumption, and it will not be sustainable in the absence of reforms to increase the economy’s potential, the Commission also warns.
Progress made in the fight against corruption has been put at risk but there are some good signs, such as the unemployment rate that in 2017 dropped to 4.9 percent, the lowest in the past 20 years.
The report says that Romania’s unfavourable demographic trends are expected to continue, and labour and skills supplies are not keeping up with the fast-changing needs of the economy.
Poverty has increased while income inequality remains high, there are no tangible results on public administration reforms and the business environment shows weakness, it adds.
Ongoing reforms of the justice laws also risk harming judicial independence and undoing progress that has been achieved so far, according to the report. Reported by Eurasia Review 8 hours ago.
The European Commission’s latest report said that the economies in EU member states Bulgaria, Croatia and Romania grew in 2017, but all of them failed to complete much-needed structural reforms.
The economies of Croatia, Bulgaria and Romania showed some improvements last year, but all three countries face challenges to boost growth further in 2018, said the latest European Commission country report, published on Wednesday.
*Bulgaria: Growth to slow but remain strong*
Bulgaria’s GDP growth in 2017 is estimated to have been 3.8 percent. In 2018 and 2019, GDP is expected to slow down but remain strong.
Despite the robust growth that is driven mainly by domestic demand, the country is catching up with the rest of the EU slowly, says the European Commission report.
In 2017, the unemployment rate decreased substantially to 6.3 per cent, while employment rates increased.
With a balanced government budget and decreased public debt, the fiscal outlook remains positive with a room to address economic and social challenges, according to the report.
The report says that Bulgaria has made “some progress in tax collection, in stepping up enforcement measures to reduce the informal economy and undeclared work, in taking follow up measures on the financial sector reviews, in facilitating the reduction of non-performing corporate loans, in improving the targeting of active labour market policies and the integration between employment and social services.”
The government however made limited progress in increasing the quality of education and health insurance coverage, reducing out-of-pocket payments and establishing a transparent mechanism for setting the minimum wage.
The Commission also warns of vulnerability in the financial sector, high private debt, and persisting challenges in the labour market.
*Croatia: Growth to depend on reforms*
Croatia requires structural reforms and its economic growth will increasingly depend on the capacity to implement them, the report says.
So far, the government has been unsuccessful in the implementation of the much-needed reforms, it warns.
The country has made limited progress in fiscal policy, social benefits are too large and a pension system reform has been postponed, it argues.
Mayor public administration reforms are largely at a standstill while educational reform is still pending, the report notes.
Some progress has been made in the sale of shares in state-owned enterprises and backlogs in the judicial system have been marginally reduced.
GDP growth rate in 2017 is projected to have remained at 3.2 percent, and the country’s recovery is expected to continue in the next two years but with lower growth rates.
Croatia faces challenges related to equal opportunities, access to the labour market and fair working condition, the Commission says.
Although unemployment has been reduced to 11.1 percent, the employment rate remains comparatively low, and a serious problem is migration outflows.
*Romania: Buoyant growth could be unsustainable*
The European Commission warns in its report that “Romania’s buoyant economic growth risks setting the stage for a hard landing”.
There is an absence of structural reforms and fiscal consolidation, the report says.
GDP growth of 6.7 percent in 2017 has been driven mainly by consumption, and it will not be sustainable in the absence of reforms to increase the economy’s potential, the Commission also warns.
Progress made in the fight against corruption has been put at risk but there are some good signs, such as the unemployment rate that in 2017 dropped to 4.9 percent, the lowest in the past 20 years.
The report says that Romania’s unfavourable demographic trends are expected to continue, and labour and skills supplies are not keeping up with the fast-changing needs of the economy.
Poverty has increased while income inequality remains high, there are no tangible results on public administration reforms and the business environment shows weakness, it adds.
Ongoing reforms of the justice laws also risk harming judicial independence and undoing progress that has been achieved so far, according to the report. Reported by Eurasia Review 8 hours ago.
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