Report: Michigan health insurers post big margin gains in first nine months of 2020
Enrollment up nearly 9%, despite COVID-19 pandemic impact
Hospitals do well financially in 2019, but fate not totally certain for 2020
Allan Baumgarten
Allan Baumgarten
For the third consecutive year, Michigan health plan insurance companies in 2020 recorded historically higher net income and margin gains, according to the latest edition of the Michigan Health Market Review.
Michigan HMOs, especially Medicaid plans, reported lower medical costs and stronger profits for the first nine months of 2020 as higher expenses for COVID-19 patients were more than offset by reduced claims for surgeries and other care that were deferred because of the pandemic, said Allan Baumgarten, a Minneapolis-based consultant who publishes the Michigan report and six other state health care reports.
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