Although four Minnesota HMOs returned $103 million in excess profits to the state's Medicaid program, they still recorded $230.4 million in net income in 2011, according to healthcare analyst and consultant Allan Baumgarten's 23rd annual report on Minnesota's healthcare market.
If the returned profits were added back to the HMOs' results, they would have posted $165.8 million on Medicaid plans alone.
Employer group plans were another major area of growth as average medical expenses went down. HealthPartners, a non-profit HMO based in Minneapolis, posted $72.8 million of net income on group plans, the highest of any HMO.
If the returned profits were added back to the HMOs' results, they would have posted $165.8 million on Medicaid plans alone.
Employer group plans were another major area of growth as average medical expenses went down. HealthPartners, a non-profit HMO based in Minneapolis, posted $72.8 million of net income on group plans, the highest of any HMO.
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