Pittsburgh-based Highmark Health reported $17.5 billion in revenue and $805 million in operating income for the first half of 2026, according to earnings results posted Aug. 24.
The organization posted $2 billion in net income for the six-month period ended June 30. Net income included $911 million in non-cash gains tied to two recently completed affiliations, Blue Cross and Blue Shield of Kansas City (April 1), and Beaver, Pa.-based Heritage Valley Health System (June 30).
Revenue grew $1 billion, a 6% increase over the first half of 2025, including $705 million contributed by Blue Cross and Blue Shield of Kansas City.
Health plans
Highmark Health Plans reported $672 million in operating income for the first half of 2026, a $612 million improvement over the same period in 2025.
“Following two years of material losses in our health insurance businesses, we continued to see positive momentum and improved financial results in our Health Plans through the second quarter of 2026,” Highmark Health CFO and Treasurer Carl Daley said in the release. “The improvements are a result of adjustments we made, our commitment to managing healthcare costs, and industry-wide moderation in claims trend across most lines of business. While claims trends still remain elevated, the moderation together with our cost-reduction efforts further accelerated the recovery trajectory for our Health Plans.”
Allegheny Health Network
AHN reported operating income of $159.6 million (5.1% margin) in the first half of 2026, up from $71.7 million (2.6% margin) during the same period last year.
“The first half in each 2026 and 2025 were positively affected by FEMA funding associated with prior years’ COVID-19 relief settlements in the amount of $149 million and $52 million, respectively.
Through the first half of 2026, outpatient registrations increased 3% year over year, physician visits increased 4% and emergency room visits increased 1%.
AHN has now recorded six consecutive quarters of positive operating income, according to the release.
Diversified Businesses
United Concordia Dental reported $948 million in operating revenue and $38 million in operating income. HM Insurance Group reported $597 million in operating revenue and an $18 million operating loss, driven by elevated claims and partially offset by pricing actions.
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