ANTHEM CONTRACTOR LEAKS DATA OF 18,000 MEDICARE MEMBERS

Anthem BlueCross BlueShield has been hit with a data breach affecting more than 18,000 Medicare members, it reported on July 24.

The data breach came from Anthem’s Medicare insurance coordination services vendor LaunchPoint Ventures. An employee stole and misused data including Social Security numbers, Health Plan ID numbers, names, and dates of enrollment.

In a 2015 security breach at Anthem, hackers stole as many as 37.5 million records containing personally identifiable information. A settlement was reached that called for Anthem to improve its data security safeguards and required a credit protection program for the children affected by the breach. Senators also demanded Anthem release notifications on data breaches more swiftly after 2015.

In an analysis done by Comparitech.com in July, it was discovered that following a data breach, a stock falls on average 0.43% and recovers in a little over a month, and that share prices grow more slowly for three years after a breach. The study also found that "breach fatigue" may be lessening the impact of a breach on a company's stock performance.

In the February 2015 data breach, Anthem advised affected Medicare members that they could expect to be individually notified by Anthem if their information was accessed.