Harvard Pilgrim Healthcare, a popular regional health insurance company that markets to employers and individuals in MA, ME, NH and CT posted an operating loss in 2016.
But they are not alone- see quick summary of 2016 operating losses by insurer:
Blue Cross Blue Shield posted a slim operating income of just $7.6 Million for 2016. For more info see Boston Globe article .
Insurers cite the following as reasons for financial struggles:
With posted losses like these employers and individuals can expect to see an increase in premiums for 2017.
For five strategies on how to save money on your NH or MA employer group health insurance please give us a call at 1-888-882-2909.
But they are not alone- see quick summary of 2016 operating losses by insurer:
- Harvard Pilgrim Healthcare $91.3 Million
- Tufts Health Plan $53.5 Million
- Fallon Health $28.6 Million
Blue Cross Blue Shield posted a slim operating income of just $7.6 Million for 2016. For more info see Boston Globe article .
Insurers cite the following as reasons for financial struggles:
- Increased RX costs
- Increase in plan usage (utilization)
- Risk Adjustment/ Risk Corridor Programs (explained well here in Boston Business Journal)
- Medical Inflation
With posted losses like these employers and individuals can expect to see an increase in premiums for 2017.
For five strategies on how to save money on your NH or MA employer group health insurance please give us a call at 1-888-882-2909.
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