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Oxford Predicts Net Loss for 4th Quarter

Associated Press

The gap between what Oxford Health Plans Inc. owes doctors and what it expected to earn will cause it to post a fourth-quarter loss of about $120 million, the health insurer said. Investors had hoped the Norwalk, Conn.-based company was close to resolving the problems that caused the onetime industry trendsetter to report a third-quarter loss of $78.1 million, due largely to overestimating the premiums owed by patients. The setback comes after shares plunged from a high of $87.50 on Nasdaq July 24 to $20.06 when trading was halted before Tuesday’s announcement.


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