UPMC believes that the number of Medicaid enrollment will increase by 10%, and the insurance profit rate will decrease
UPMC’s parent company disclosed on Tuesday that despite the decline in business registrations, the number of Medicaid registrations for the UPMC health plan has increased by nearly 10% year-on-year.
UPMC Financial statements for the nine months ended September 30 As of that date, the health plan covered 557,000 Pennsylvania Medicaid beneficiaries, nearly 50,000 more than a year ago. At the same time, the number of business registrations for the Pittsburgh-based company fell by 4% to 659,000. The medical insurance customer base in the insurance sector grew by 2.5% to 200,738. The total number of UPMC health plan members has just exceeded 4 million.
UPMC Health Plan’s operating income fell by US$206 million in the first nine months of this year, and its operating profit margin was 1.6%, down from 4% in the same period in 2020. According to the company’s financial report, the profit margin for the COVID-19 pandemic is small.A sort of UPMC spokesman Said Do not one used to be usable arrive Comment Wednesday.
Due to the strong performance of its supplier division, UPMC’s company-wide operating profit margin has almost doubled to 4.4% in the first nine months of 2021. Outpatient revenue increased by 17%, and doctor services and hospital admissions also improved.
The number of Medicaid enrollments surged during the pandemic, mainly because federal rules prohibit states from expelling people from their plans during public health emergencies. Health and Human Services Minister Xavier Becerra (Xavier Becerra) Renew for another 90 days October 15th. Over 9 million Between February 2020 and January 2021 alone, working-age adults and children have been covered, and the Urban Research Institute estimates that this number will increase to 17 million by the end of this year.
Banner Health of Phoenix also reported that enrollment in its Medicaid program has increased by nearly 14% in the first nine months of 2021. The health system’s Medicaid program achieved operating benefits of US$24 million during this period, surpassing three-quarters of the insurance sector’s operating earnings of US$16 million in the first year in 2020.
Banner Health lost US$15 million in operating Medicare Advantage contracts in the first nine months of 2021 and made US$7 million in its business plan joint ventures. The overall operating profit margin of the system is only 1.8%.
Large for-profit health insurance companies reported that the number of people enrolled in the Medicaid program has increased significantly. Centene, the largest Medicaid insurance company, reports that 12% year-on-year increase As of September 30, the number of Medicaid members reached 14.8 million.Anthem, the second largest Medicaid insurance company, sees 21% increase in Medicaid As of September 30, this number was approximately 10.4 million.