Health Care Providers Post Bigger Profits
Posted at: 03/29/2013 8:06 AM
| Updated at: 03/29/2013 8:20 AM
ST. PAUL, Minn. (AP) - An audit report says taxpayer-funded health care for low-income Minnesotans exceeded state targets by nearly $207 million between 2002 and 2011.
The extra revenue for health care providers contracting with the state for MinnesotaCare and Medical Assistance allowed them to post a 2.4 percent profit, which is twice the amount set by the state.
The Minnesota Department of Human Services ordered the audit, done by the Segal Group, after concerns were raised about the rate-setting process between the state and the nonprofit health plans.
The Star Tribune (http://bit.ly/13DqTyp ) reports the health plans had an operating profit of $430.5 million on revenue of $18 billion for those years. The profit total was $206.9 million more than expected.
-- Information from: Star Tribune, http://www.startribune.com
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