HMSA posts profit, gains more members in quarter
By Kristen Consillio, The Honolulu Star-Advertiser | |
McClatchy-Tribune Information Services |
The health plan collected
HMSA's
At the end of the second quarter, HMSA's membership grew to 730,745, up from 719,977, and its reserve stood at
In July, HMSAboosted rates by 8.9 percent for 110,000 consumers and 8,500 small businesses. HMSA had originally sought a rate hike of 13.1 percent, but that was lowered by the state Insurance Division, which regulates health plan rates.
"It's a struggle to live in
Beyond the written statement, Van Ribbink was not available to answer questions about the quarterly earnings.
HMSA said the second-quarter gain helped the company recoup some of its losses in the first quarter, which totaled
While the ACA fees will be paid to the federal government in September, all insurers, including HMSA, were required to set money aside and record it in financial reports
"The gain we reported for the second quarter can be attributed in part to collecting ACA fees from our members in the second quarter and recognizing those fees as revenue without recording the related expense, since the related expense was previously recorded on
The not-for-profit mutual benefit society will pay
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