The Hawaii Medical Service Association reported a 1.6% net income gain in the second quarter of the year in its filing with the state Insurance Division. The gain gives HMSA continued financial stability and resources to improve the lives of its members and the health of Hawaii, the organization said in a press release.
The Hawaii Medical Service Association reported a 1.6% net income gain in the second quarter of the year in its filing with the state Insurance Division. The gain gives HMSA continued financial stability and resources to improve the lives of its members and the health of Hawaii, the organization said in a press release.
“This filing shows that we’re close to breaking even and, as a nonprofit company, that’s essential to our financial sustainability,” said Gina L. Marting, HMSA senior vice president and chief financial officer.
Of HMSA’s $890.1 million in premium revenue for the second quarter, 90.6%, or $806.7 million, was spent on health care services for members and $83 million for administrative expenses. HMSA reported an investment gain of $6.8 million.
