Oregon, Washington Health Plans Improve Along With Economy
(7/5/2005)

Source: PRNewswire

HealthLeaders-InterStudy, a leading provider of managed care industry intelligence, finds that health plans in the Pacific Northwest have shown significant financial improvement after experiencing financial strain since  9/11.

According to the latest issue of the Oregon and Washington Health Plan Analysis from HealthLeaders-InterStudy, the top six HMOs in Oregon collectively showed an increase in net income from $40.9 million in 2003 to $189.6 million in 2004, and each and every Washington's HMO was profitable in 2004.

"Oregon and Washington health plans finally have their finances back on track and have been more disciplined about their underwriting methods," said Micaela Brown, HealthLeaders-InterStudy analyst. "In the future, these healthier plans may be looking for acquisitions and investing in consumer-driven health benefits companies. They will also likely be investing in high-tech claims management and disease management programs."

Other health plan news in Oregon and Washington:
  * It's unlikely that any health plans in Oregon and Washington will bid to
    offer a new regional Medicare PPO, but several plans are offering drug
    plans and extending their service areas for their local Medicare PPOs.
  * Group Health Cooperative rolled out its first PPO product in Spokane,
    Wash, and is contemplating buying a local PPO plan.
  * Regence Blue Shield of Washington introduced new individual PPO plans
    effective June 1 that offer catastrophic coverage with low premiums.
  * Providence Health Plans now offers individual PPOs tied to HSAs in
    Oregon.