Kaiser Foundation Health Plans posted a net income of $2.1 billion during 2009, compared to a $794 million loss just a year earlier – a shift due to improved financial markets.
The operating performance for Kaiser was $1.6 billion earned in 2009, on $42.1 billion of revenue, a 3.8 percent margin.
“We are pleased that our operating income remained stable despite the challenges of 2009,” said Kathy Lancaster, executive vice president and chief financial officer. “We are also pleased that our non-operating performance benefited from the partial recovery of the financial markets and returned to a level that more appropriately supports investments in our care delivery infrastructure. Given the volatility in the financial markets and ongoing governmental actions related to Medicare Advantage payment rates, we are continuing to take prudent measures to manage our operations and investments.”
Capital spending during the fourth quarter of 2009 was approximately $900 million compared to nearly $1.1 billion in the same quarter during 2008. Capital spending for 2009 was approximately $2.6 billion, compared to $2.9 billion during 2008.