It was a tough 2014 for three of Massachusetts' largest insurers.
Tufts Health Plan, Harvard Pilgrim and Kaiser Foundation Health Plan of the Northwest are the highest ranked private insurers in the country, according to new ratings from the National Committee for Quality Assurance (NCQA).
Under a first-of-its-kind law implemented in Massachusetts in October, insurers must give consumers prices for certain services within two working days so consumers can comparison shop for medical procedures
Insurers in Massachusetts are on the forefront of a growing trend to help consumers price medical procedures and services, as well as find specialists and other doctors, reported The Boston Globe.
Big-name, for-profit insurance companies didn't fare well in a national analysis of health plans by the National Committee of Quality Assurance (NCQA), but integrated health systems and Kaiser Foundation Health Plan were winners.
Although Massachusetts health reform has helped increased the number of insured people, it doesn't seem to be aiding insurers' bottom lines as the state's major insurance companies saw their second quarter earnings plummet for the second straight quarter.
Two nonprofit insurers (Tufts Health Plan and Harvard Pilgrim Health Care) in Massachusetts are considering entering out-of-state markets, including possibly partnering with other insurance companies.
The nonprofit insurers in Massachusetts, a leader in health reform, reported falling operating incomes in the first quarter, primarily because of increasing pressure to keep premium costs low.
The four largest health insurers in Massachusetts fared extremely well in 2011, as fewer people sought medical care and as insurers renegotiated provider contracts, which helped them stifle
Massachusetts health insurers can increase premiums by an average of 2.3 percent, the smallest hikes in the state during the past 10 years. As a healthcare reform leader, Massachusetts could be