Saturday, February 14, 2015

Connecticut Non-Profit Hospital Net Assets (Financial Strength) Up 140% Since 2008 Financial Meltdown ..... The Main Reason Health Insurance Premiums Are Now So Reasonable on Health Insurance Exchange

From a review of the Electronic Municipal Market Access (EMMA), I found 5 Non-Profit Hospital Organizations all headquartered in the State of Connecticut with Net Assets (i.e. Financial Strength or Total Assets minus Total Liabilities) at the most recent date reported of more than $400 mil each.

Below here are the Net Assets of these 5 Connecticut Hospital Organizations at both the most recent reported date and also at the end of the Fiscal Year which included the late 2008 US Financial Meltdown:

Net Net

Assets Assets


Balance Balance Increase

Sheet Sheet Since

Date Date FYE

Most Recent
Including Including Including

Recent Balance
2008-09 2008-09 2008-09

Balance Sheet
City State Sheet Net
Financial Financial Financial
US Hospital Organization HQs HQs Date Assets
Meltdown Meltdown Meltdown

mil $s
mil $s

Hartford HealthCare Hartford CT Dec 14     1,604
Sep 09         661 143%
Yale-New Haven Health Services New Haven CT Sep 14     1,867
Sep 09         588 218%
Western Connecticut Health Danbury CT Jun 14        548
Sep 09          266 106%
Greenwich Healthcare Services Greenwich CT Sep 14        436
Sep 09         357 22%
Stamford Health System Stamford CT Dec 14        434
Sep 09         168 158%

Total all 5


      2,040 140%

As you can see from the above chart, the Total Net Assets (Financial Strength) of these 5 largest Connecticut Hospital Organizations totaled $4,889 mil, up a huge 140% from such Total Net Asset amounts of $2,040 mil at their fiscal year ends which included the 2008-09 US Financial Meltdown.

With such a very impressive Connecticut Hospital Net Asset percentage increase, a key beneficiary of this will be Connecticut citizens who have elected or will be electing to buy health insurance on the Health Insurance Exchange.  This superb Net Asset growth has given and will continue to give these Connecticut Hospitals the financial flexibility to moderate their pricing for hospital and other health care procedures in their negotiations with health insurance companies which ultimately determines what insurance premium prices are set at by health insurance companies on the Health Insurance Exchange.