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California’s big health insurers profited in 2010, data show

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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.

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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.

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-- Duke Helfand

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