Minn. HMO Might Limit Bank Account On Public Health Care

Four of Minnesota's largest HMOs have already agreed to cap their profits this year.

Now, the head of HealthPartners appears to be thinking about limiting the company's bank account that already has an estimated 386-million dollars in reserves. That bank account is money---largely---from running the state's public health programs.

HealthPartners CEO, Mary Brainerd, told members of HealthPartners that the Bloomington-based non-profit would consider capping its reserves to cover one to three months of operating expenses only. If that holds true, it could mean savings for taxpayers into the tens of millions of dollars. Health care advocates told 5 EYEWITNESS NEWS that this is the first time any of the four HMOs that run the programs has mentioned capping their reserves which, collectively, stand at roughly 2.5-billion dollars.

Take Action Minnesota told 5 EYEWITNESS NEWS that this is a step in the right direction, but a lot of groundwork still needs to be done, before it becomes reality. 

Last month, the four HMOs---HealthPartners, Blue/Cross Blue Shield of Minnesota, Medica and U-Care---agreed to cap their profits at one-percent.

Governor Mark Dayton has discussed this agreement with the HMOs as a way to provide lower health care costs and help balance the state's 5-billion dollar budget deficit.

Tweet

Related Stories:

• Official: Overpayment for Minn. Medicaid Raises Serious Concerns
• With Federal Medicaid Audit Planned, Senators Call for Hearings
• Congress Sends Stinging Letter over MN Medicaid Spending
• Watchdog Group Sharply Criticizes Minnesota's Medicaid Program
• Dayton Cabinet Member Accused of Not Being 'Truthful' in Congressional Testimony
• Congress Launches Minnesota Medicaid Investigation
• Legislative Auditor Sharply Criticizes Dayton Cabinet Member
• More Heat On Four H-M-Os That Run Minnesota's Medicaid
• Millions in Bonuses Paid Out At Minnesota H-M-O
• U.S. Senator Jumps Into Federal Probe Over MN Medicaid Program