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Partners HealthCare posts $22m loss, first in 15 years

By The Boston Globe  
   December 15, 2014

Partners HealthCare, the state's biggest health care provider, lost $22 million in the last fiscal year, its first loss in 15 years. The losses stemmed from the troubled finances at the company's insurance arm, Neighborhood Health Plan, which primarily serves people with low incomes. While Partners collected $11 billion in revenues in the fiscal year that ended Sept. 30, it finished the year with operating losses, a significant reversal from the profit of $158 million it earned the previous year. At Neighborhood, the losses amounted to $110 million. The insurer also booked a loss for $92 million set aside in reserves, as required by state accounting rules.

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