How are the health insurance companies that operate in Massachusetts doing? The answer to that question can be found in MHA’s Semi-Annual Health Plan Performance Report, which is now available and contains data from all of Fiscal Year 2015. The report looks at plan membership, premium rates, medical and administrative expense trends, and profitability, liquidity, and solvency statistics. It provides information about health plan market share, and it presents trends in premium rates to employer groups. The report includes figures important to evaluate a plan’s financial condition: net worth, net income, total premium revenues collected, and medical expenses. The plans covered are Blue Cross and Blue Shield of Massachusetts, BMC HealthNet Plan, CeltiCare, Fallon Health, Harvard Pilgrim Health Care, Health New England, HMO Blue, Minuteman Health, Neighborhood Health Plan, Tufts Public (formerly Network Health), Tufts Health Plan, and United Health Care of New England (United). This report also contains enrollment information on activity of the Health Connector.
One main general conclusion of interest: while most plans were profitable, margins were generally quite low, with only a few plans having strong years.
To purchase the report, contact MHA’s Leanne Banks at
lbanks@mhalink.org.