Highmark's insurance income fell slightly in 2013
Locally prominent Pittsburgh-based insurer Highmark Inc. announced today that its 2013 net income was $294.1 million, or 2 percent of operating revenues, down from last year's figures of $432.2 million and 2.9 percent.
Spokesman Aaron Billger noted that the 2012 numbers got a one-time bump from the affiliation with Highmark Delaware, which had market value assets of about $186 million.
Figured before affiliations, Highmark's yearly income numbers are much closer: $372.1 million in 2013 and $380.8 million in 2012. The release also indicated that Highmark increased its statutory basis surplus in 2013, to $4.4 billion from $4.1 billion.
The release covered Highmark's insurance division, including dental, vision and reinsurance diversified businesses. It does not include the organization's recently acquired provider division; Billger said those numbers are coming later this spring.
Of Highmark's diversified businesses, United Concordia Cos. reported a net income of $68.7 million, up from $68.1 million. Highmark Vision Cos. had a drop in net income, at $52.9 million this year and $64.7 million in 2012. HM Insurance Group also saw its net income decline, at $46.9 million this year and $60.8 million in 2012.
The report also included a tally of the total health care membership of Highmark and affiliated companies; it stands at 5.3 million. Western Pennsylvania has 3.2 million of those members, Highmark said, and Central Pennsylvania and the Lehigh Valley together have about 1 million.
At the beginning of April, Highmark announced that it had 104,324 Pennsylvania signups through the Obamacare marketplace.