California's big health insurers profited in 2010, data show
California’s largest health insurance companies enjoyed a profitable year in 2010 even as they complained about shouldering rising costs for hospital care, doctors’ services and prescription drugs, new data show.
The state’s insurers and health plans collected $105 billion in revenue last year, and the largest insurers posted profits after paying medical claims for their policyholders, according to the California HealthCare Foundation’s annual Health Care Almanac.
For example, the state’s largest for-profit insurer, Anthem Blue Cross, posted a 4.2% profit margin, earning $206 million, in 2010 on preferred provider organization policies regulated by the California Department of Insurance.
The Woodland Hills company also enjoyed 3.7% profit margin, earning $414 million, for HMO business overseen by a second regulator, the Department of Managed Health Care.
To learn more about revenue, profit and other data on California's insurers, go to http://www.chcf.org/publications/2011/11/california-health-plans-insurers.
-- Duke Helfand
Photo: A patient visits a doctor. Credit: Jay L. Clendenin / Los Angeles Times