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Maine.gov > PFR Home > Insurance Regulation > HMO > Financial Summary > 2003 Annual

Maine HMO Financial Summary - 2003 Annual

HMO Annual Statement Data

As of 12/31/2003

Fiscal Year 2003 Results Harvard Pilgrim Health Care* Aetna Health CIGNA Healthcare ME Partners HMO Maine**
           
Total Admitted Assets $547,714,153 $58,389,571 $50,484,047 $53,818,039  
Premium Receivables $8,227,178 $1,459,787 $4,943,693 $691,831  
Claims Payable $146,828,528 $17,589,423 $18,100,465 $9,600,857  
Total Liabilities $337,149,881 $25,719,043 $27,479,838 $32,482,105  
Surplus Notes $11,363,073 $ - $ - $ -  
Total Net Worth $210,564,272 $32,670,528 $23,004,209 $21,335,934  
           
member months 6,979,206 491,955 429,132 407,602 1,047,726
enrollees 604,445 43,095 32,392 30,562 70,920
           
Premium $1,960,170,531 $149,329,210 $119,307,501 $109,512,682 $301,042,411
Fee-For-Service $1,134,580 $ - $ - $ - $ -
Total Revenues $1,961,305,111 $149,329,210 $119,307,501 $109,498,511 $301,042,411
Total Medical & Hospital Expenses $1,742,104,377 $117,851,257 $99,069,595 $80,354,926 $249,072,855
Total Claims Adjustment Expenses $58,274,845 $3,535,538 $5,032,294 $5,588,236 $12,907,630
Total General Administration Expenses $130,400,453 $15,551,044 $8,504,408 $10,432,883 $20,917,395
Net Underwriting Gain(Loss) $30,525,436 $12,391,371 $6,701,204 $12,929,296 $17,985,047
Pre-tax Income(Loss) $42,184,430 $13,954,455 $9,099,214 $13,987,115 $21,747,578
Net Income(Loss) $42,184,430 $9,319,950 $6,078,624 $9,442,414 $14,135,925
           
Health Care Expense Ratio 88.82% 78.92% 83.04% 73.37% 82.74%
Claims Adjustment Expense Ratio 2.97% 2.37% 4.22% 5.10% 4.29%
Administrative Expense Ratio 6.65% 10.41% 7.13% 9.53% 6.95%
Net Profit Margin 2.15% 6.24% 5.09% 8.62% 4.70%
Total Premium Revenue PMPM $281.02 $303.54 $278.02 $268.68 $287.33
Health Care Expense PMPM $249.61 $239.56 $230.86 $197.14 $237.73
Claims Adjustment Expense PMPM $8.35 $7.19 $11.73 $13.71 $12.32
Administrative Expense PMPM $18.68 $31.61 $19.82 $25.60 $19.96
Net Income PMPM $6.04 $18.94 $14.16 $23.17 $13.49
           
Provision for Fed Taxes $ - $4,634,505 $3,020,590 $4,544,701 $7,611,653

*Harvard Pilgrim numbers include business in other New England states.
**HMO Maine operates as a line of business of Anthem Health Plans of Maine, Inc.

 

Last Updated: December 8, 2011

January 18, 2007