Kaiser Permanente Hawaii posted a $1 million gain in the second quarter, compared to a loss of $800,000 in the second quarter of 2013, and credited commercial sector growth as the main reason for growth in operating income and investments.
The company posted $295.2 million in revenue and $200,000 in investment income for the quarter, compared to $285.6 million in revenue and $1.2 million in investment income in the second quarter of 2013.
Spokeswoman Laura Lott said the commercial sector had added about 7,000 members since the second quarter of 2013.
“Many new members are also coming to us via the [Hawaii Health] Connector because of our favorable rate position and the coordinated care model, which receives top rankings in quality, service and customer satisfaction,” she said.
Kaiser Permanente is the only Hawaii health insurer that said it will offer plans to small businesses through the Hawaii Health Connector after its biggest competitor, Hawaii Medical Service Association, announced it would pull its small business plans out in 2015.
Matt Tuohy covers health care, nonprofits and the University of Hawaii for Pacific Business News.
Date: August 18, 2014