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Article: Massachusetts Health Plan Blames Rhode Island Unit for Financial Woes.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- November 16, 1999
- Author:
CopyrightCOPYRIGHT 1999 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Knight Ridder/Tribune Business News
Nov. 17 -- Harvard Pilgrim Health Care Inc.'s financial losses accelerated in the first nine months of the year, with the Massachusetts health plan blaming most of its problems on "massive losses" in its insolvent Rhode Island operation.
After losing $54 million last year, Harvard Pilgrim Health Care, of Brookline, Mass., said it lost $75 million more through September of this year. And it's on its way to a total loss of about $100 million for 1999.
In the first nine months of the year, Harvard Pilgrim Health Care's Rhode Island HMO accounted for $33.8 million, or 45 percent, of the Massachusetts company's ...