HONOLULU – The Hawaii Medical Service Association (HMSA) reports investing more than $777 million in the health and well-being of its members in the fourth quarter of 2018. A financial report filed with the state Insurance Division shows that HMSA collected $891 million in premiums in the final three months of 2018. $94.3 million was used to administer benefits and upgrade the health plan’s infrastructure.
“Every dollar of the premiums we administer is used to improve the lives of our members and the health of Hawaii,” said Michael Stollar, HMSA’s president and chief executive officer. “By keeping that as our top priority and making sure that we measure every decision with that in mind, we can confidently say that we’re delivering the best quality health care at the most affordable cost.”
Despite poor investment performance, federal taxes, and a fourth quarter net loss of $17 million, or 1.9 percent of revenues, HMSA’s bottom line remains strong. With a reserve of more than $562 million dollars, HMSA has about $776 for each of its 724,008 members.
Caring for the people of Hawaii is our promise and our privilege. Working together with employers, partners, and physicians and other health care providers, we promote well-being; develop reliable, affordable health plans; and support members with clear, thoughtful guidance.
HMSA is the most experienced health plan in the state, covering more than half of Hawaii’s population. As a recognized leader, we embrace our responsibility to strengthen the health and well-being of our community.
Headquartered on Oahu with centers and offices statewide to serve our members, HMSA is an independent licensee of the Blue Cross Blue Shield Association.