Business Excellence Awards
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WATERTOWN, Mass. – Tufts Health Plan reported a net income of $87.6 million for the year ending Dec. 31, 2011. That figure includes both investment income of $32.7 million and operating income of $55.1 million, with total revenue of $2.9 billion.
The health insurer also reported a total net worth of $807.7 million and no debt. Membership was 935,838 at year’s end.
Tufts’ year-end numbers reflected its business strategy and its commitment to creating further efficiency in its operations, according to Umesh Kurpad, senior vice president and chief financial officer.
Tufts continues to work to improve the health of its members while controlling costs, Kurpad said. “With the combination of our commercial, Medicare, and now, Medicaid services through the acquisition of Network Health, Tufts Health Plan can cover members and provide access to health care at every life stage and across the economic continuum.” •