Medica reported an operating loss of $216 million on $6.3 billion of revenue for 2024.
The company cited “historic levels of healthcare services utilization,” across all products and geographies.
The operating loss includes $40 million for the company’s premium deficiency reserve for continued losses expected in 2025. Medica has also reduced its footprint to 9 states from 12 in 2024.
In 2024, Medica paid $5.7 billion in medical claims. The insurer has a total enrollment of 760,000 fully-insured members and 610,000 self-insured members.
