From the POST-GAZETTE:
Pittsburgh health insurer Highmark Inc. has emerged from a tumultuous two-year period with gains in revenue, net profit, surplus and investment income, taking in a total of $14.6 billion last year, according to numbers released by the company on Thursday…
• On the last day of 2010, Highmark earmarked $20 million for the Caring Foundation, an affiliate foundation (but not a Highmark subsidiary). The $20 million is for five years worth of operations funding. Also on the last day of 2010, Highmark made an additional $32 million payment to the state to help pay for an extension of the adultBasic health insurance program, which has since expired. In October, the company also made its final $20 million payment to the Highmark Foundation, the last part of a five-year, $100 million commitment…
• Highmark paid out more than $62 million last year to the Community Health Reinvestment Fund, a state fund that financed a variety of health insurance programs. The agreement to fund those programs expired at the end of 2010. In 2009, Highmark paid $58.7 million to the same fund…
• The company also said it paid nearly $260 million in federal, state and local taxes in 2010, and contributed $175.1 million to community-related activities…
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EDITOR: Compare the above to the relative pittance that public charity Lancaster General Health gives to the community from its average $100 million annual profits.
