Posted at 12:22 p.m., Thursday, August 16, 2007
HMSA reports second quarter loss of $4.34 million
Advertiser Staff
The Hawaii Medical Service Association, the state's largest medical insurer, swung to a second-quarter loss of $4.34 million as benefit expense payments rose faster than dues revenue. A year earlier it had reported second-quarter revenue of $12.6 million.HMSA said benefit expenses rose 4.8 percent to $437 million, while administrative costs climbed 7.6 percent to $40.5 million.
That compared to a 2.4 percent increase in dues revenue to $460.8 million as its membership increased to 706,582.
The insurer said its loss would have been greater if not for a rise in its investment income during the three months ended June 30.
