Earnings Up For Large Mass. Health Plans

Blue Cross Blue Shield Chief Andrew Dreyfus

WBUR’s Martha Bebinger reports:

Earnings are up for all four of the state’s largest health insurance companies.

The largest — Blue Cross Blue Shield of Massachusetts — reports income for the first time in three years.

After losing money in 2009 and 2010, Blue Cross president Andrew Dreyfus says operating income for last year totaled $43 million. “I think it reflects the fact the company is healthy and doing well,” he says, “although the operating margin is very narrow.”

Tufts Health Plan, Fallon Community Health Plan, and Harvard Pilgrim Health Care are also reporting significant earnings increases.

The Boston Globe’s Rob Weisman reports on the latest health plan financials here, including a pointed comment from a consumer advocate about continually rising premiums.

“Premiums are still increasing, and they’re already too high,’’ said Deirdre Cummings, legislative director for the Massachusetts Public Interest Research Group. “This is the same dance insurers have been doing for some time, and this is what consumers are frustrated by. Insurers are reaping the benefits that should be going to consumers.’’

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