In March, the Washington State Office of the Insurance Commissioner released data from the 2017 annual insurer filings. WSHA analyzed trends in the top three commercial insurers and top three Medicaid insurers in the state for 2016 and 2017. Highlights of the analysis include:
- 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% for Coordinated Care, an insurer providing primarily Medicaid, to 8.2% for Regence Blue Shield.
- Primarily commercial insurers had reserves representing 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.
Additional information and charts of the data can be found here:
http://www.wsha.org/wp-content/uploads/Top-insurers-FY2017-Annual-Financial-Statement-Analysis-from-OIC.pdf. Contact Andrea Palmiter (andreapa@wsha.org) with questions.
