Highmark Health swings to $69M loss as insurance pressures offset hospital gains

PITTSBURGH — Highmark Health posted a $69 million net loss in the first nine months of 2025, buffeted by challenges across the board in the insurance industry but buoyed by a third straight quarter of positive earnings at Allegheny Health Network.

The Pittsburgh-based nonprofit tallied $24.6 billion in revenue through Sept. 30, up from $22.1 billion in the first three quarters of 2024. But it swung to an operating loss of $204 million compared to $273 million in operating gain and $529 million in net income the previous year. Highmark Health Plans had $18.7 billion in revenue and an operating loss of $211 million.

The financials come at a time when Highmark Health is expanding, both on the provider and insurance side. In October, it announced itwould bring Heritage Valley Health System into Allegheny Health Networksome time in 2026. December brought word thatHighmark would affiliate with Blue Cross and Blue Shield of Kansas City, which would bring in 1 million members.

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Highmark Health swings to $69M loss as insurance pressures offset hospital gains – WPXI

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