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Kaiser earns $3.7M profit in 2nd quarter

Kaiser Permanente Hawaii made a $3.7 million profit in the second quarter, reversing a $4.3 million year-earlier loss.

The state’s largest health maintenance organization — both a health insurer and medical provider — said it gained nearly 6,000 members over the same period last year with total membership reaching 247,477 at the end of June.

The HMO generated $340 million in revenue, up from $307.9 million a year ago and spent $337.4 million on operating expenses, compared with $312.9 million.

That resulted in $2.6 million in operating income, which reversed a $5 million operating loss in the second quarter of 2015. Investment income of $1.1 million — an increase from $700,000 — helped boost the company’s bottom line to $3.7 million, or 1.1 percent of revenue.

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