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Maine HMO Financial Summary - 2003 Quarter 3

HMO Quarterly Statement Data

As of 9/30/2003

3rd Quarter, 2003 Results Harvard Pilgrim Health Care* Aetna Health CIGNA Healthcare ME Partners HMO Maine**
Total Admitted Assets $491,725,016
 $68,771,861
 $44,956,316
 $40,928,913
  
Premium Receivables $8,693,172
 $778,147
 $1,888,077
 $1,050,827  
Claims Payable $124,439,336
 $15,672,623
 $18,244,325
 $13,431,377
  
Total Liabilities $293,971,374
 $28,443,928
 $24,924,058
 $23,782,594
  
Surplus Notes $11,164,598
 $ - $1,681,808
 $ -  
Total Net Worth $197,753,642
 $40,327,933
 $20,032,258
 $17,146,319
  

 

member months

 5,174,175 366,922
 329,042
 313,830
 832,898
enrollees 608,594

40,127

 34,168
 32,601
 71,285

 

Premium

$1,442,446,825
 $110,958,474
 $90,870,690
 $83,418,617
 $248,338,216
Fee-For-Service $837,432
 $ - $ - $ - $ -
Total Revenues $1,443,284,257
 $110,958,474
 $90,870,690
 $83,418,617
 $248,338,216
Total Medical & Hospital Expenses $1,279,076,869
 $85,516,634
 $79,093,075
 $65,491,154
 $212,567,590
Total Claims Adjustment Expenses $46,180,276
 $2,565,499
 $3,297,362
 $5,186,866
 $13,633,700
Total General Administration Expenses $93,812,395
 $11,703,249
 $7,834,668
 $5,916,858
 $10,285,072
Net Underwriting Gain(Loss) $24,214,717 $11,143,237 $645,585 $6,743,401
 $11,623,877
Pre-tax Income(Loss) $31,061,199 $12,213,439 $1,898,834 $7,552,671 $13,648,679
Net Income(Loss) $31,061,199 $8,099,077 $1,434,033 $5,179,751 $8,871,641

 

Health Care Expense Ratio

 88.62% 77.07% 87.04% 78.51% 85.60%
Claims Adjustment Expense Ratio 3.20% 2.31% 3.63% 6.22% 5.49%
Administrative Expense Ratio 6.50% 10.55% 8.62% 7.09% 4.14%
Net Profit Margin 2.15% 7.30% 1.58% 6.21% 3.57%
Total Premium Revenue PMPM $278.94 $302.40 $276.17 $265.81 $298.16
Health Care Expense PMPM $247.20 $233.06 $240.37 $208.68 $255.21
Claims Adjustment Expense PMPM $8.93 $6.99 $10.02 $16.53 $16.37
Administrative Expense PMPM $18.13 $31.90 $23.81 $18.85 $12.35
Net Income PMPM $6.00 $22.07 $4.36 $16.50 $10.65

 

Provision for Fed Taxes

 $ - $4,114,362 $464,801 $2,372,920 $4,777,038

*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