Mass. health insurers report mixed 1Q results
Posted at: 05/16/2013 9:31 AM
BOSTON (AP) - The four largest health insurers in Massachusetts have reported mixed first-quarter financial results, with two posting income gains, one registering lower earnings, and one reporting a loss.
Each cited unique factors influencing financial performance in the three months ending March 31.
The Boston Globe reports
that Harvard Pilgrim Health Care turned in the strongest quarterly results, reporting a net income increase of 150 percent to $8.5 million from $3.4 million in the year-ago period.
First-quarter income at Tufts Health Plan rose from $5.1 million to $5.7 million.
First-quarter net income slipped 6 percent to $28 million a year earlier, at Blue Cross Blue Shield of Massachusetts, the state's largest health insurer.
Fallon Community Health Plan absorbed a $200,000 net loss, down from $4.2 million in net income a year ago.
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