DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/jknfqc/minnesota_health) has announced the addition of the "Minnesota Health Market Review 2013" report to their offering.
Enjoying consecutive years of strong profits, Minnesota HMOs have added $769 million to their surplus since 2008 and have $1.3 billion more in surplus than required by law.
Part One of Minnesota Health Market Review 2013 presents these and other findings. The new report, released here this week, is the 24th annual report analyzing the Minnesota health care market. The analysis in Part Two of the Minnesota report, to be released later this year, focuses on profitability and utilization for the state's hospitals and physician systems.
The new report shows that:
- Minnesota HMOs recorded strong profits in 2012 for the fourth straight year. They had net income of $241.1 million, or 3.3% of underwriting revenues of $7.3 billion. In the past four years, their average margins have ranged from 2.6% in 2009 to 3.6% in 2010.
- HealthPartners has been the most profitable plan for the past three years, and reported almost $128 million in operating income on its employer group plans in the past two years. HMOs and County-Based Purchasing plans had net income of $67 million on their state public programs, of which Medicaid is the largest.
- Minnesota HMOs added $191 million to their capital in 2012, and now have more than $1.9 billion in surplus. That is $1.3 billion more than the minimum required by law.
- Enrollment in HMOs and county plans was flat in 2012. HMOs and County-Based Purchasing plans added 3,300 net lives in 2012. HMO enrollment in employer group plans fell again and has dropped below 200,000. State public programs added 35,000 enrollees and Medicare plans grew by 10,000 seniors.
For more information visit http://www.researchandmarkets.com/research/jknfqc/minnesota_health