In March, the Washington State Office of the Insurance Commissioner (OIC) released data from the 2017 annual insurer filings. WSHA analyzed trends from the top three commercial and Medicaid insurers in the state for 2016 and 2017. Some of the highlights are as follows:
- All insurers saw increases in premiums per member in 2017, and most insurers saw increases in enrollment and total premiums;
- Profit margins in Washington State varied widely, from -6.2 percent for coordinated care (an insurer providing primarily Medicaid) to 8.2 percent for Regence Blue Shield; and
- Insurers offering primarily commercial coverage had reserves of 5.9 to 13.3 times their required risk-based capital. Insurers offering primarily Medicaid had reserves ranging from 3.4 to 4.0 times what was required.
Read more, and contact WSHA Senior Data Analyst Andrea Palmiter at andreapa@wsha.org with questions. (Andrea Palmiter)
