Financial Statements
HMSA is a mutual benefit society licensed by the Blue Cross and Blue Shield Association
to offer a selection of health care products and services under the Blue Cross and
Blue Shield brand names. HMSA is governed by a board of directors and is solely
responsible for its own debts and obligations.
A complete audited financial report for HMSA is available upon request.
Condensed HMSA Balance Sheet
December 31, 2009
Statutory Basis (In thousands)
|
What HMSA Owns
|
|
Cash and short-term investments
|
|
|
$45,347
|
|
Investments
|
|
Bonds
|
$145,420
|
|
|
|
Mutual funds
|
255,330
|
|
|
|
Marketable equity securities
|
117
|
|
|
|
Real estate
|
39,218
|
|
|
|
Investments in subsidiaries
|
39,341
|
|
|
|
Other investments
|
8,883
|
|
|
|
Total investments
|
|
|
488,309
|
|
Receivables
|
|
|
99,363
|
|
Federal tax recoverable
|
|
|
11,413
|
|
Electronic data processing equipment, net
|
|
|
4,604
|
|
Other assets
|
|
|
15,743
|
|
Total assets
|
|
|
$664,779
|
|
What HMSA Owes
|
|
Estimated member claims outstanding
|
|
$137,904
|
|
Membership dues collected in advance
|
|
28,294
|
|
General expenses accrued
|
|
65,155
|
|
Provision for experience rating
|
|
17,061
|
|
Premium deficiency reserve
|
|
15,000
|
|
Deferred taxes
|
|
3,128
|
|
Drawings on line of credit
|
|
25,000
|
|
Other liabilities
|
|
17,121
|
|
Total liabilities
|
|
308,663
|
|
Resources Available for the Protection of Members
|
|
Total resources available for the protection of members
|
|
356,116
|
|
Total liabilities and resources
|
|
$664,779
|
Condensed HMSA Statement of Operations
Year ended December 31, 2009
Statutory Basis (In thousands)
|
Member dues
|
|
|
$1,643,173
|
|
100.0%
|
|
Member benefits
|
|
|
|
|
|
|
Medical and hospital claims
|
$1,582,582
|
|
|
|
96.3%
|
|
Claims adjustment expenses
|
70,030
|
|
|
|
4.3%
|
|
Total member benefits
|
1,652,612
|
|
|
|
100.6%
|
|
General administrative expenses
|
93,789
|
|
|
|
5.7%
|
|
Total expenses
|
|
|
1,746,401
|
|
106.3%
|
|
Net operating loss
|
|
|
(103,228)
|
|
-6.3%
|
|
Net realized investment and other income
|
|
|
26,407
|
|
1.6%
|
|
Net loss before tax benefit
|
|
|
(76,821)
|
|
-4.7%
|
|
Income tax benefit
|
|
|
12,430
|
|
0.8%
|
|
Net loss
|
|
|
$(64,391)
|
|
-3.9%
|
