Datapoint: Utilization Trend Fuels $80M Operating Loss for UCare

UCare, a large public-sector insurer in Minnesota, posted an $82.1 million operating loss for year-end 2023, according to a report in the Star Tribune. That’s a 75% decrease from 2022. Execs said the loss was fueled by increased utilization, plus the cost of GLP-1s and RSV vaccines, according to the Tribune. “The higher medical cost … is the result of increased utilization in pharmacy cost from prior year, and increased utilization of outpatient specialty services due to deferrals of preventive and elective care as well as provider contractual rate increases,” UCare said in a regulatory filing. UCare currently serves 551,431 members, with about 65% enrolled in managed Medicaid, and 27% in Medicare Advantage.

Source: AIS’s Directory of Health Plans

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AIS Health Staff

AIS Health Staff

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