health insurance

Tufts 1Q membership numbers jump 29%

Posted 5/21/12

WATERTOWN, Mass. – Tufts Health Plan had a first-quarter jump in membership of 29 percent in 2012, compared with the first quarter numbers in 2011, rising to 980,000 from 748,031, according to the health insurer.

The increase in membership, explained Sonya Hagopian, spokeswoman for Tufts, was attributed to the organic growth within the organization, and the acquisition of Network Health in the fall of 2011.

No numbers are yet available for the new “Steward Limited Plan,” a new health insurance product offered in partnership between Tufts and Steward Health Care that features a tiered plan within a limited network, according to Hagopian. “The product is still very new,” she explained, having been introduced beginning in January. “It’s best supported with a lot of education in the market along with the benefit of time for people to understand how it works.”

It is anticipated that once Steward completes its purchase of Landmark Medical Center in Woonsocket, Tufts will consider offering the limited health plan in Rhode Island.

Net income for the first-quarter of 2012 was $5.1 million, based upon investment income of $12.2 million and an operating loss of $7.1 million, with revenue of $951.4 million, according to Umesh Kurpad, Tufts’ senior vice president and chief financial officer.

“We are particularly pleased with our ability to stabilize premiums this year,” said Kurpad. “We also see our membership growth in the first quarter by far as the best endorsement of the overall value we bring to our customers.”

PBN Hosted

Join PBN for the best networking event and party of the winter - January 15, 2015 - the Book of Lists Party at the Providence Public Library. Reserve your spot by December 31st and get a holiday gift from PBN!
  • Best Places to Work
    Enrollment is now open for the 7th annual Best Places to Work program. Winners w ...
  • Manufacturing Awards
    Applications are now being accepted for the 2nd Annual Manufacturing Awards. Dea ...
Purchase Data
Book of Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  • Purchase an e-File of the entire Book of Lists database
  • Purchase a printed copy of the Book of Lists
    Latest News