Feds to pay Highmark $571 million in partial coverage of past healthcare.gov losses – LancasterOnline

One of Pennsylvania's biggest health and insurance organizations is expecting a massive check from the federal government in partial payment of healthcare.gov losses it suffered years ago.

"The ruling affirms that the federal government must fulfill its legal promises, which preserves the trust that makes successful public-private partnershipsincluding the ACA marketplace," Perri wrote, noting that the payment will not cover all of Highmark's losses under the health care law.

Asked if other insurers here will be receiving payments, Pennsylvania Insurance Commissioner Jessica Altman said in a written statement, "There are multiple lawsuits related to this topic and there is also the potential for additional lawsuits to now be filed, so it is difficult to say for certain which Pennsylvania carriers will be reimbursed and for how much."

Since then, the market has stabilized, a change evident in Highmark's overall financials.

After an overall loss of $85 million across its entire book of business in 2015, Highmark reported surpluses of $59 million for 2016, $1.06 billion in 2017, $570 million in 2018 and $843 million in 2019. The $1.06 billion surplus in 2017 was driven in part by a one-time gain from the sale of part of a vision business.

Asked about the payment's impact on members, Perri said Highmark is assessing that.

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Feds to pay Highmark $571 million in partial coverage of past healthcare.gov losses - LancasterOnline

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