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Elevance Health is laying off 123 employees in California, with 64 at a Carelon office in Cerritos and 59 at Anthem Blue Cross in Woodland Hills, as part of permanent job cuts linked to declining Medicare Advantage Star Ratings and a 22.5% drop in Q3 net income. The layoffs follow a challenging earnings call where CEO Gail Boudreaux discussed the impact of lower ratings on the company's performance. Additionally, UnitedHealth Group's Optum announced 524 layoffs across California, primarily affecting urgent care facilities.
The U.S. healthcare system ranks last among 10 countries in access, equity, and outcomes, despite spending over 16% of its GDP on healthcare. Key issues include high costs, a fragmented insurance system, and significant numbers of uninsured and underinsured individuals, leading to poor health outcomes and limited access to care. Recommendations for improvement include extending coverage to the uninsured, reducing administrative complexity, and investing in public health.
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