Highmark touts health plan turnaround in first half of 2026
Highmark Health closed the first half of the year with $17.5 billion in revenue and $2 billion in net income, bolstered by a significant turnaround at its insurance unit.
Highmark Health reported $17.5 billion in revenue and $2 billion in net income for the first half of 2026, marking a significant turnaround in its insurance unit. This $2 billion in net income includes $911 million in non-cash gains from partnerships with Blue Cross and Blue Shield of Kansas City and Heritage Valley Health System.
Highmark Health Plans saw $672 million in operating income over the first two quarters of 2026, a $612 million increase compared to the first half of 2025. The company anticipates continued elevated utilization and cost trends across the industry, though these pressures have lessened. Highmark implemented strategy adjustments around pricing and product lineup, paving the way for accelerated recovery.
Their Living Health strategy, leveraging technology, also contributed to cost mitigation. In a statement, CFO and treasurer Carl Daley highlighted the positive momentum and improved financial results in Health Plans. Gustavo Giraldo, with experience at CVS Health, Centene, and Cigna, was appointed president of Highmark Health Plans, bringing expertise and a focus on innovation and transformation.
Allegheny Health Network, Highmark's provider arm, also reported strong financial performance, posting $160 million in operating income for the first half of 2026, a $88 million increase from 2025. Inpatient volumes and utilization were stable, while outpatient registrations and physician visits showed growth, along with a slight increase in emergency department visits.
Written by urgent.news from Fierce Healthcare's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
