Hawaii Health Insurance Providers Report 1Q Income

May 17, 2012

Hawaii’s two largest health insurance providers earned operating income during the first three months of the year.

Hawaii Medical Service Association on Tuesday reported operating gain of $7.2 million for the quarter, amounting to just over 1 percent of dues collected. Its after-tax gain totaled $12.8 million or about 2 percent of dues collected.

HMSA says it’s putting the money into reserve funds that cover large unexpected health care costs or losses.

Kaiser Foundation Health Plan Inc. Hawaii Region reported an operating income $600,000 during the first quarter. That’s less than 1 percent of revenue.

Kaiser Permanente says it’s holding down costs and focusing on total health. It’s campaigning nationally and locally to bring attention to obesity which is a major cause of poor health and health care spending.

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