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Massachusetts insurers say ACA, pricey drugs to blame for financial losses

August 18, 2015 | By
Tools

Many Massachusetts health insurers are struggling to make profits after experiencing financial challenges last year, the Boston Business Journal reports. Among the reasons insurers gave for negative operating margins were intense regulatory pressure, expensive drugs and low reimbursements from the state. "Our results are driven by several factors including the cost of complying with the [Affordable Care Act], competitive pressures on premiums, our continued investment in new technologies and services for our customers, and the rising costs of so-called specialty medications," said Allen Maltz, chief financial officer at BlueCross BlueShield of Massachusetts, which saw the highest operating loss, $51.8 million, in the second quarter of fiscal 2015. Article

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