The nonprofit Bloomington, Minn.-based payer-provider released its 2021 report April 19.
“In 2021, we saw our highest-ever claims costs, paying more than $3.6 billion for members’ care,” CEO Andrea Walsh told The Star Tribune.
Six things to know:
- Operating income in 2021 was $152.5 million, representing a 56 percent increase over the 2020 operating income of $96 million.
- In 2021, HealthPartners paid $7.6 billion in operating expenses from an operating revenue of $7.75 billion.
- The operating income percentage in 2021 was 2 percent.
- Premium revenue was about $3.9 billion in 2021.
- Net income grew by about 18 percent, from $266.6 million in 2020 to about $314 million in 2021, according to The Star Tribune.
- In 2021, 92 percent of premium revenue was spent on members’ claims.
“When we came into 2021, we had pent-up demand that came through the system, resulting in higher claims cost for the [health insurance] plan in 2021, but offset by higher volumes on the care side of the organization,” CFO Penny Cermak told the Star Tribune.
