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Massachusetts' Largest Health Insurers Post Strong Quarterly Earnings

The biggest commercial health insurers in Massachusetts recently reported high second-quarter earnings, citing efforts to cut administrative spending, according to a Boston Globe report.

The state's largest health insurer, Blue Cross Blue Shield of Massachusetts, reported a net income of $56.5 million for the three months ending June 30, significantly different than the $14.3 million loss reported in the same period last year.

Second-largest health insurer Harvard Pilgrim Health Care reported a quarterly net income of $13.5 million, compared to $6.5 million a year earlier. Tufts Health Plan reported a second-quarter net income of $35.9 million, an increase from $11.5 million last year.

Operating income also improved for Massachusetts' biggest insurers, as premium hikes slowed as a result of moderated price increases for medical care. According to data reported by the state Division of Insurance, that trend should continue into the second half of 2011.

Read the Boston Globe report on health insurance.

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