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HMSA posted a $13 million loss, down from a $17 million loss in the fourth quarter of 2018.
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The Hawaii Medical Service Association reported Friday a narrower fourth-quarter loss from the year-earlier period.
The state’s largest health insurer posted a $13 million loss, down from a $17 million loss in the fourth quarter of 2018.
HMSA collected $862.4 million in premiums, down from $891 million, and spent $799 million, up from $794.4 million, on medical benefits for its 727,000 members.
Administrative expenses were nearly flat at $94.5 million versus $95.2 million, resulting in operating losses of $9.8 million, compared with operating gains of $18.8 million in the year-ago period.
Investment gains totaling $17.9 million helped offset the operating loss. HMSA posted a $6 million investment loss a year ago.
“Our financial stability gives our members peace of mind knowing that HMSA will be here when they need us,” said Gina Marting, HMSA executive vice president and chief financial officer. “We work closely with doctors, hospitals and other health care providers with the common goal of offering Hawaii residents affordable health plan options.”
Kaiser’s financial results are expected to be released soon.
