Fallon Health reports increased membership, second quarter financial results

Worcester, Mass., August 15, 2017 ― Fallon Health today reported a 7.5 percent increase in membership driven by growth across multiple lines of business. Membership was 226,061 as of June 30, 2017, compared with 210,684 ending June 30, 2016.

Second-quarter financial results reflect a break-even position on revenue of $331 million on a GAAP basis for the second quarter that ended June 30, 2017.  Net income included investment and other income of $2.9 million and operating loss of $2.9 million. For the same quarter last year, Fallon posted net income of $0.1 million on revenue of $302 million. The net income included investment income of $2.6 million and an operating loss of $2.5 million.

“Thanks to the hard work of our employees, we’ve been able to grow membership,” said Kevin Grozio, Interim Chief Financial Officer of Fallon Health. “We’ve done this through delivering high-quality, affordable care to people of all ages, income levels and health statuses.

Carrie Wattu
508-368-9345

About Fallon Health
Founded in 1977, Fallon Health is a leading health care services organization that supports the diverse and changing needs of those we serve. In addition to offering innovative health insurance solutions and a variety of Medicaid and Medicare products, we excel in creating unique health care programs and services that provide coordinated, integrated care for seniors and individuals with complex health needs. Fallon has consistently ranked among the nation’s top health plans, and is accredited by the National Committee for Quality Assurance for its HMO, Medicare Advantage and Medicaid products. For more information, visit www.fallonhealth.org.