HMSA’s work with providers, businesses, government agencies, and the community to improve the health of its members, combined with the suspension of Affordable Care Act (ACA) fees and taxes by the federal government, led to a 4.8% net gain for HMSA for the first three months of the year. The health insurer filed its financial results with the state Insurance Division earlier this week.
“Our financial stability allows us to work with every stakeholder in the health care system to improve the lives of our members and the health of Hawaii,” said Gina L. Marting, HMSA senior vice president and chief financial officer.
HMSA collected $889.6 million in premium revenue for the first quarter. The health insurer paid $777.8 million for its members’ medical and hospital benefits and $81.1 million for administrative expenses. HMSA reported an investment gain of $8.6 million.
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.