Highmark Health has reported first quarter 2023 revenues of $6.7 billion, an increase of 4.6% from the prior year quarter. This increase follows strong revenue growth of 18% in 2022, with total 2022 revenues of $26 billion. Highmark also reported net income of $227 million for the first quarter.
In a press release announcing its first quarter results, Highmark stated that its strong performance was “due to the positive performance of most business units, notably Highmark Health Plans, United Concordia Dental and HM Insurance Group, driven by increased annual membership….” Highmark reported an annual membership growth of 2.5%, to 7 million Core Health Plan and Blue Card members.
Highmark is the largest health insurer in Pennsylvania, Delaware, Western New York and West Virginia. It holds the Blue Cross and Blue Shield Association licenses for several health plans, including Highmark Blue Cross and Blue Shield, Highmark Blue Shield, Highmark Blue Cross and Blue Shield of Delaware, Highmark Blue Cross and Blue Shield of West Virginia, Highmark Blue Cross and Blue Shield of Northeast New York, and Highmark Blue Cross and Blue Shield of Western New York.
Highmark’s announcement is just another in a long line of strong profits reported by health insurers.
Highmark’s press release announcing its earnings is linked here.