First few Article Sentences
California health plans recently filed financial reports for the first three months of 2014 and thirty-seven of the sixty-six plans were profitable. This compares unfavorably to the first quarter of 2013 when forty-five plans were profitable.
Twelve plans began operations in 2014 and only three broke even or reported a profit.
Kaiser Foundation HP led all plans with a $1.14 billion profit.
Tangible Net Equity (TNE) for the plans was generally greater at the end of the first quarter 2014 than at the end of the first quarter 2013. TNE is defined by state statute and measures a planís solvency. It approximates net worth assuming intangible assets are removed and subordinated debt is added. TNE was higher for thirty-seven of the fifty-four plans that were operational in the first quarter of 2013.