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'Octomom' Insurer Is Among Most Profitable

Stocks in this article: HUMUNHWLP

The Kaiser Foundation gained public prominence after Nadya Suleman, the "Octomom," gave birth at the Kaiser Permanente Bellflower Medical Center in Bellflower, California.

But the not-for-profit organization's Kaiser Foundation Health Plan Inc. is also the seventh most profitable U.S. health insurer, with earnings of $202 million, according to an industry-wide analysis. Suleman's hospital bill may swell to $1 million after she delivered octuplets in January, ABC News has reported. She is insured by California's state health plan.

Kaiser Foundation Health Plan is rated A-minus, or "excellent," by TheStreet.com Ratings. Kaiser's units generated more than $40 billion in combined premiums in 2007.

Nadya Suleman

In addition to Kaiser, subsidiaries of Humana (HUM), UnitedHealth Group (UNH) and WellPoint (WLP) were among the top 25 most profitable insurance companies in the third quarter, the most recent data show.

WellPoint had 10 insurance subsidiaries in the top 25 from states as diverse as California to New Hampshire. UnitedHealth had five. The most profitable insurer was Health Care Service Corp., a mutual company rated A-plus by TheStreet.com Ratings. It recorded $600 million in net income.

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Gavin Magor joined TheStreet.com Ratings in 2008, and is the senior analyst responsible for assigning financial strength ratings to health insurers and supporting other health care-related consumer products, including Medicare supplement insurance, long-term care insurance and elder care information. He conducts industry analysis in these areas. He has more than 20 years' international experience in credit risk management, commercial lending and analysis, working in the U.K., Sweden, Mexico, Brazil and the U.S. He holds a master's degree in business administration from The Open University in the U.K.

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