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December
10, 2003
 State-by-State
Listing of HMO Aggregate Profits and Losses
The
chart shows the nation's health maintenance organizations (HMOs)
reporting an aggregate 81% increase in profits in 2002 to $5.5
billion, up from $3 billion in 2001. Profits from Medicare + Choice
(M+C) plans increased 117.7%, to $1 billion from $462.9 million in
2001, as insurers discontinued or reduced costly plans and
realized higher reimbursements rates from the 1999 Balanced Budget
Refinement Act. HMOs also capitalized on an increased need for
Medicare supplement insurance (Medigap) as seniors left or were
dropped by M+C plans and returned to traditional Medicare. This
resulted in a 90.6% increase in Medigap profits in 2002, climbing
to $270.5 million from $141.9 million in 2001.
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