Here are four things to know about the insurance company’s results for the latest fiscal year.
1. HCSC’s more than 10-fold increase in net income, compared to 2016, puts the payer back in line with its financials before it shouldered losses on its ACA exchange plans.
2. HCSC lost $281.9 million and $65.9 million in 2014 and 2015, respectively. In 2016, HCSC earned $106.3 million in profit.
3. The parent company of Blues plans in Illinois, Montana, New Mexico, Oklahoma and Texas collected premiums of $32.5 billion in 2017, up 7.4 percent year over year, Crain’s reports. This is after its premium revenue was down 3 percent in 2016.
4. In March 2018, HCSC announced it will invest $1.5 billion in initiatives to cut its members’ healthcare costs due to the turnaround. The three-year effort, dubbed Affordability Cures, targets five areas: collaborative care, household financial security, productive employees, healthy communities, and digitally-driven and data-rich actions.
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