Intermountain’s health plan posts strong gains in 2014
SelectHealth, the health insurance division of Intermountain Healthcare, closed 2014 with a sizable top-line gain after it added thousands of members to its growing lineup of benefit options.
The provider-owned insurer’s revenue soared 22.5% year over year, totaling $1.83 billion, according to Intermountain’s 2014 financial documents. That included premium revenue as well as administrative fees charged to self-funded employers.
Greg Poulsen, Intermountain’s chief strategy officer, said the Affordable Care Act spurred a great deal of consumer health insurance shopping last year. Early numbers suggest SelectHealth was one of the most popular options on the individual and small-group exchanges in Utah. He also said that nearly a third of the plan’s 750,000 members come from large employers in the region.
Medicaid has become a larger component of SelectHealth’s revenue over the past several years. Poulsen said SelectHealth is one of four state Medicaid ACOs and has about 85,000 members, representing roughly half of all Utah Medicaid ACO enrollees.