Oregon Health Insurers Report Punishing 2015 Financial Results
Oregon’s nine largest health insurance companies cumulatively lost $219.3 million in 2015, according to annual reports filed with the National Association of Insurance Commissioners this week.
Click here for an in-depth examination of the 2015 financial performance of Oregon’s major health insurers.
The financial reports portray Regence BlueCross BlueShield as a rare healthy insurer in an otherwise bruised industry. Regence BCBS was the only major Oregon insurance company to post a profit last year.
Health Republic – which had already stopped selling Oregon insurance plans and announced it would exit the market in 2016 – revealed that its struggles added up to a $29.3 million net loss last year.
Moda, which drew a regulatory crackdown over its capital reserves in January but has stayed afloat by selling assets and borrowing, reported a $49.5 million net loss for 2015
The capital ratios that state regulators use to analyze the wellbeing of these health insurance companies are trade secrets and not subject to public disclosure under state or federal records laws. But the other details filed by Oregon’s insurers provide a snapshot into their trials and tribulations over the 2015 calendar year. Reach Courtney Sherwood at [email protected] or follow her on Twitter at @csherwood.