HealthMarkets Cuts 70 Employees This Month, 180 More To Come

Texas-based insurance provider HealthMarkets has announced an initial round of layoffs. The company expects it will be the first round between now and the first quarter of 2011.

70 employees were handed pink slips this month and 180 more are expected to receive them sometime in early 2011. In a filing with the SEC, HealthMarkets cited “dropping enrollment levels experienced by the company’s insurance subsidiaries,” as one of the reasons for the layoffs. Additionally, they blamed national healthcare reform and “related legislative developments.”

The company did not reveal which departments were affected by the layoffs. Spokeswoman Donna Ledbetter says the filing with the SEC“ contains all the relevant information regarding the recent change to our work force.”
HealthMarkets laid off 130 employees at their North Richland Hills headquarters in February.