Portland, OR -- May 18, 2016 -- FamilyCare Health announces a $10.2 million loss in the first quarter of 2016. The loss itself is not surprising to FamilyCare leadership as they have been consistently stating that the 20% rate cut in 2015 would result in a net loss in 2016. This loss supports FamilyCare's assertion that their rates are not actuarially sound.
All other things being equal, if FamilyCare's 2014 rates were still in effect, they would not have incurred this loss. FamilyCare's rates are the lowest in the state and don't reflect the complexity of health needs of its members.
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About FamilyCare Health
For 30 + years, FamilyCare Health has been providing patient-centered healthcare to Oregonians. With over 130,000 members, FamilyCare Health is a Medicare and Medicaid managed care organization providing health plan services in Multnomah, Clackamas, Washington and some parts of Marion counties. FamilyCare was the first health plan in Oregon to integrate models of physical and mental health. It was the first Coordinated Care Organization in the tri?county area certified by the Oregon Health Authority. More information at http://www.familycareinc.org/
May 18, 2016
