Highmark Back In The Black
A health insurer prominent in Lancaster County is back in the black.
Highmark recently reported overall profits of
In a news release, Highmark Executive Vice President and Chief Financial Officer
Highmark reported that its government business had
In 2015, the nonprofit said, it lost about
In addition to higher-than-expected costs for marketplace enrollees, Highmark has attributed much of those losses to changes in the federal risk corridor program.
The Affordable Care Act authorized that program for three years to help insurers handle losses through the initial period of dramatic change.
But although it was expected to cover the previous year's claims in full annually, a congressional spending bill later stipulated that it could pay out only as much as was collected - which to date has been just a fraction of their losses.
Highmark and some other insurers have gone to court trying to force payment. To date one court has ordered the government to pay
The latest employer survey conducted by the
Trump signs legislation rolling back Obama-era regulations
Taking their cuts: At Bonita barbershop, baseball talk and quick wit reign supreme
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News