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State's HMOs report profit
9:17 PM 6/07/04
Associated Press

Wisconsin's health maintenance organizations posted a $44 million profit for the first quarter of 2004, the state Insurance Commissioner's Office reported Monday. <

Twenty HMOs made money in the quarter, with profits ranging from $7,567 for Medical Associates Clinic Health Plan of Wisconsin to $18.3 million for Touchpoint Health Plan. <

Touchpoint's profit was boosted when United HealthCare of Wisconsin acquired its HMO and point-of-service businesses for $40 million in March, said Phil Dougherty, deputy director of the Wisconsin Association of Health Plans. <

One HMO lost money in the quarter. Managed Health lost $207,047. <

HMOs' hospital and medical expenses increased 3.7 percent on a per-member-per-month basis from the first quarter of 2003, according to WAHP. <

HMOs make up 53 percent of Wisconsin's commercial health insurance market, which excludes Medicare and Medicaid participants and people covered under employer-sponsored self-insured plans. <

Wisconsin's HMOs have been slowly improving their financial health after losing a combined $58.5 million in 1999, their worst-ever financial year. <

  • On the Internet: <

    Office of the Commissioner of Insurance: http://badger.state.wi.us/agencies/oci <

    First-quarter profits for some area HMOs

  • Dean Health Plan: $764,170 <

  • Group Health Cooperative of South Central Wisconsin: $2.3 million <

  • Humana Wisconsin Health Organization: $305,029 <

  • MercyCare Insurance: $112,504 <

  • Physicians Plus Insurance: $1.9 million <

  • Unity Health Plan: $1 million <

    - Associated Press

    Source: Wisconsin Office of the Commissioner of Insurance
  • Copyright © 2003 Wisconsin State Journal


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