Minn. health insurance companies see smaller profits as spending rises

Author:
Updated:
Original:

Minnesota health insurers saw profits last year that were about one-third of their 2011 levels. A boost in health care spending left profit margins at less than one percent, but still allowed the companies to boost their reserves.

The numbers come from the Minnesota Council of Health Plans, the trade industry representing the state's biggest health insurers.

As the Pioneer Press reports, spending on patients in hospitals and emergency rooms increased 10 percent last year.

MPR notes that on a per person basis, statewide spending was up five percent. Some of the biggest increases were for chemical dependency, mental health, chiropractic care, and social workers.

The smaller profit still allowed the health plans to boost their reserves over $3 billion.

Here's the announcement from the Council of Health Plans.

Next Up

Luis Arraez

Arráez's triple gives Twins rare extra-inning victory

The Twins scored three runs in the 10th to take Friday's opener.

court gavel

St. Cloud man sentenced after traveling to meet minor he solicited online

Nathan Paul Grondahl learned his fate in a federal court this week.

Kirill Kaprizov / Minnesota Wild

Report: Contract talks between Kaprizov and Wild have 'gone cold'

The report states Kaprizov is drawing interest from the KHL.

IMG_1266

Glensheen Mansion reveals new coffee bar - with fresh donuts

It's located in the historic Carriage House garage space

Bogdan Vechirko

Charges against trucker who barreled through protestors could be dropped

Bogdan Vechirko will have to avoid legal trouble for a year.

Dychaun Chew - South High School Facebook

Loved ones mourn 16-year-old killed in Minneapolis hit-and-run

South High School held a balloon release for Dychaun Chew Thursday evening.

police lights

5-year-old dies 3 weeks after assault, mother's charges upped to murder

The girl died three weeks after the assault took place.

Related