Nation’s Uninsured Rate Drops Significantly; Fitbit Raises $841.2 Million In IPO

Nation’s Uninsured Rate Drops Significantly

The rate of uninsured in the United States dropped by nearly 9 million, according to new data released by the Centers for Disease Control and Prevention.

The uninsured rate nationwide in 2014 was 11.5%, down from 14.4% in 2013, the last year before the Affordable Care Act took hold in a significant way.

The uninsured rate among African-Americans dropped sharply, from 18.9% in 2013 to 13.5% last year, according to the CDC data. But the uninsured rates among Latinos also dropped dramatically, by 17%, although still more than one in four of that demographic group still lacks coverage.

The western United States had the second-highest rate of uninsureds in the country, with 16.3%, although California’s uninsured rate for all ages was 12% and 13.4% among those under the age of 65.

The South, where most of the states have declined to expand Medicaid eligibility, leads the country with an uninsured rate of 20.7%. Oklahoma and Texas were the states with the highest rates of uninsureds, at 21.5%.

Fitbit Raises $841.2 Million In IPO

Fitbit, the San Francisco-based firm that manufactures and distributes wireless health and activity tracking products, raised $841.2 million in its initial public offering.

Fitbit sold 22.4 million shares in the IPO, and stockholders sold another 19.7 million shares.

The company is considered by some experts to be a key to population health management in the coming years.

Trading of Fitbit began last Thursday on the New York Stock Exchange at $30 per share. The share prices have risen about 20% in the days after it began trading.

Covered California Gives Top Exec Pay Hike, Bonus

The board of directors of the Covered California health insurance exchange have given Executive Director Peter V. Lee a small pay increase and a significant performance bonus.

Lee received a 2.5% pay hike, raising his compensation to $333,120. He also received a $65,000 bonus representing about 20% of his former salary. Lee received a 24% pay increase four months ago.

Covered California Deputy Director Yolanda Richardson received a 11.3% increase, to $265,668 per year. Richardson is the exchange’s third-highest paid employee.

The pay hikes take effect on July 1.

In addition to the pay increases, Covered California also awarded new contracts for marketing and public relations. Campell Ewald received a three-year pact worth $150 million. Ogilvy Public Relations also received a three-year pact, worth $6 million.

The companies won the contracts through a competitive bidding process that included eight marketing and advertising agencies and four public relations firms.