Axios Closer

December 05, 2024
Thursday ✅.
Today's newsletter is 659 words, a 2½-minute read.
🔔 The dashboard: The S&P 500 closed down 0.2%.
- Biggest gainer? Brown-Forman (+10.7%), the spirits and wine company, beat expectations with quarterly results and delivered a rosy forecast for its fiscal second half.
- Biggest decliner? Synopsys (-12.4%), the semiconductor company, issued weak guidance for its fiscal Q1 earnings and revenue.
1 big thing: Anthem's reversal
A major health insurance company is backing off of a controversial plan to limit coverage of anesthesia, according to public officials.
Why it matters: Anthem Blue Cross Blue Shield recently decided to "no longer pay for anesthesia care if the surgery or procedure goes beyond an arbitrary time limit, regardless of how long the surgical procedure takes," according to the American Society of Anesthesiologists, which opposed the decision.
- The decision was based on surgery time metrics from federal health data, NPR reported.
- The policy applied to plans in Connecticut, New York and Missouri.
The latest: "After hearing from people across the state about this concerning policy, my office reached out to Anthem, and I'm pleased to share this policy will no longer be going into effect here in Connecticut," Connecticut Comptroller Sean Scanlon said Thursday on X.
- Shortly afterward, New York Gov. Kathy Hochul issued a statement saying, "We pushed Anthem to reverse course and today they will be announcing a full reversal of this misguided policy."
What they're saying: The initial coverage decision was very unusual for a major health insurer, said Marianne Udow-Phillips, who teaches insurance classes at the University of Michigan School of Public Health and formerly made coverage decisions at Blue Cross Blue Shield of Michigan.
The big picture: Anthem's initial decision was controversial at the time — but outrage erupted this week after the murder of UnitedHealthcare CEO Brian Thompson in New York City cast a spotlight on divisive insurance decisions.
- On social media, critics of health insurers drew a direct line from controversial coverage decisions to the death of Thompson.
Axios' Maya Goldman contributed reporting.
2. Search for killer continues
Nearly 36 hours since Thompson was killed on a New York City sidewalk, investigators are still working to find the shooter.
The latest: The NYPD released new photos of a person of interest in the case.
- They've lifted a fingerprint from a discarded water bottle and have a burner phone believed to have been dropped by the shooter, CNN reported.
- And investigators carried out a warrant on a hostel on Manhattan's Upper West Side in connection with the investigation, according to multiple reports.
What they've found: Police say shell casings found at the scene of the murder were inscribed with words including "delay" and "deny" — "possible references to ways that health insurance companies seek to avoid paying patients' claims," NYT reported.
State of play: Police have reportedly not yet been able to match a name to the person in the photos.

3. What's happening
🛒 Kroger said it's still confident its Albertsons acquisition will get approved. (Bloomberg)
💍 The stock of Kay, Zales and Jared owner Signet Jewelers plunged after the company reported disappointing earnings and projected a same-store sales decline in 2025. (Dow Jones Newswires)
🖥️ OnlyFans is suddenly available in China, which has historically banned sexually explicit material. (CNN)
4. Industry shakeout
The competitive landscape is continuing to shift in the airline industry after Spirit Airlines filed for Chapter 11 bankruptcy and competitor Frontier Airlines introduced first-class seats.
Today saw more news we thought you should know about:
- JetBlue is shedding more unprofitable routes as it struggles to close the gap with its bigger rivals. (CNBC)
- Southwest raised its revenue outlook. (WSJ)
- American increased its profit forecast. (Bloomberg)
Meanwhile, the Biden administration is proposing new rules "requiring airlines to pay cash compensation and cover lodging and meals for passengers who are stranded when an airline causes flights to be canceled or changed." But the Trump administration will have the final say. (AP)
5. Chicken wings and wedding dresses
Now you can order a wedding dress on DoorDash.
State of play: David's Bridal is partnering with the third-party delivery service to sell products from its 180 locations.
- That includes dresses, shoes and accessories.
Yes, but: David's Bridal notes that delivery times "may vary and are not guaranteed."
💭 Nathan's thought bubble: Dearly beloved, this service would've come in handy on my wedding day when I realized at the last second that I was missing my tie.
Today's newsletter was edited by Pete Gannon and copy edited by Sheryl Miller.
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