Minnesota HMOs Have Surplus Of $2.5 Billion
ST. PAUL, Minn. (AP) – Operating profit from Minnesota health insurance programs for low-income residents increased by about one-third in 2010.
According to the Minnesota Council of Health Plans, a trade group for the HMOs, operating income from the state health programs came in at $130.8 million last year, up from $98.7 million in 2009.
The St. Paul Pioneer Press reports the numbers push surpluses for HMOs and related insurance subsidiaries in the state to $2.5 billion.
Legislators and Gov. Mark Dayton are looking at the health plans as piggy banks as they try to resolve the state’s $5 billion budget deficit.
One HMO, Minneapolis-based UCare, said last month it would give back $30 million to the state in light of strong 2010 results. Dayton has asked others to follow suit.
(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)