FL HMOs Lose Big In 2014

Jul 7, 2015

Credit Florida Office of Insurance Regulation

An analysis by the South Florida Business Journal of Florida Office of Insurance Regulation data on HMOs shows nearly half of Florida’s managed-care health insurance companies lost money in 2014.  A look at the combined net income of the 34 HMOs shows a net income of $66.5 million in 2014; that’s a 90 percent decrease from 2013, when the collective profit reported by Florida’s HMOs was $648 million. Insurance analysts say the losses are due in part to a flood of new enrollees, according to the Business Journal.