How Highmark Health fared in the first half of 2024

PITTSBURGH — Highmark Health’s revenue grew 8% in the first half of 2024 on the strength of the insurance business as well as some of its non-health insurance businesses.

The Pittsburgh-based nonprofit logged $14.7 billion in revenue in the six months ended June 30, according to financials released Thursday. That compares to $13.6 billion in the same six months in 2023.

Two other key indicators, operating gain and net income, were also up year-over-year. Operating gain was $307 million, up from $230 million. Net income was $417 million, higher than the $389 million at the same point in 2023. That’s despite the continued high costs of supplies, overall inflation and labor shortages that have hit Highmark, its hospital system Allegheny Health Network, its United Concordia Dental insurer, and hospitals and insurers nationwide.