Fallon Community Health Plan reports third quarter financial results

Worcester, Mass., November 15, 2011―Fallon Community Health Plan (FCHP) today reported net income of $12.2 million on revenue of $291 million for the third quarter that ended September 30, 2011. Net income includes investment income of $2.9 million and operating income of $9.3 million. For the same quarter last year, FCHP posted net income of $7.2 million on revenue of $293 million. Net income included investment income of $12.4 million and an operating loss of $5.2 million.

“We’re pleased with our progress against our 2011 business goals and with our efforts to continue strengthening our financial position,” said R. Scott Walker, FCHP Executive Vice President and Chief Financial Officer. “However, businesses and consumers still face a significant health care cost challenge, which is why we remain focused on continuing to deliver cost-effective, high-quality products and services to the marketplace.”

FCHP membership was 214,806 as of September 30, 2011, compared with 207,791 as of the most recent quarter ending June 30, 2011, and 216,071 as of September 30, 2010.

Kate Dalton-Hoffman
Katherine.dalton-hoffman@fchp.org

About Fallon Community Health Plan
Founded in 1977, Fallon Community Health Plan is a nationally recognized, not-for-profit health care services organization. From traditional health insurance products available throughout Massachusetts for all populations, to innovative health care programs and services for independent seniors, FCHP supports the diverse and changing needs of all those it serves. FCHP has consistently ranked among the nation’s top health plans, and is the only health plan in Massachusetts to have been awarded “Excellent” Accreditation by the National Committee for Quality Assurance for its HMO, Medicare Advantage and Medicaid products. For more information, visit fchp.org .