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Maine.gov > PFR Home > Insurance Regulation > HMO > Financial Summary > 2003 Quarter 1

Maine HMO Financial Summary - 2003 Quarter 1

HMO Quarterly Statement Data

As of 3/31/2003

1st Quarter, 2003 Results Harvard Pilgrim Health Care* Aetna Health CIGNA Healthcare ME Partners HMO Maine**
           
Total Admitted Assets $ 439,771,358
 $ 53,530,596
 $ 45,521,055
 $ 42,698,320
  
Premium Receivables $ 6,136,337
 $ 682,035
 $ 1,026,444
 $ 748,435  
Claims Payable $ 112,727,037
 $ 15,152,986
 $ 17,184,538
 $ 15,705,404
  
Total Liabilities $ 236,077,801
 $ 18,412,170
 $ 24,158,286
 $ 28,823,603
  
Surplus Notes $ 13,110,386
 $ - $ 5,000,000
 $ -  
Total Net Worth $ 176,693,557
 $ 35,118,426
 $ 21,362,769
 $ 13,874,717
  
           
member months 1,648,402 123,669
 116,196
 108,242
 308,188
enrollees 555,247

40,727

 38,268
 35,702
 102,689
           
Premium $ 453,441,150
 $ 36,904,485
 $ 31,787,201
 $ 28,268,557
 $ 90,685,171
Fee-For-Service $ 296,061
 $ - $ - $ - $ -
Total Revenues $ 453,737,211
 $ 36,904,485
 $ 31,787,201
 $ 28,268,557
 $ 90,685,171
Total Medical & Hospital Expenses $ 403,991,026
 $ 28,537,738
 $ 28,215,510
 $ 22,844,349
 $ 79,742,456
Total Claims Administration Expenses $ 14,949,969
 $ 856,132
 $ 830,658
 $ 1,637,419
 $ 4,509,235
Total General Administration Expenses $ 28,569,446
 $ 3,851,264
 $ 2,444,117
 $ 1,868,831
 $ 3,401,703
Net Underwriting Gain(Loss) $ 6,226,770 $ 3,659,351 $ 296,916 $ 1,917,958
 $ 3,031,777
Pre-tax Income(Loss) $ 9,326,531 $ 4,066,652 $ 670,082 $ 2,170,146 $ 3,716,362
Net Income(Loss) $ 9,326,531 $ 2,781,658 $ 730,101 $ 1,683,114 $ 2,415,635
Health Care Expense Ratio 89.04% 77.33% 88.76% 80.81% 87.93%
Claims Adjustment Expense Ratio 3.29% 2.32% 2.61% 5.79% 4.97%
Administrative Expense Ratio 6.30% 10.44% 7.69% 6.61% 3.75%
Net Profit Margin 2.06% 7.54% 2.30% 5.95% 2.66%
Total Premium Revenue PMPM $ 275.26 $ 298.41 $ 273.57 $ 261.16 $ 294.25
Health Care Expense PMPM $ 245.08 $ 230.76 $ 242.83 $ 211.05 $ 258.75
Claims Adjustment Expense PMPM $ 9.07 $ 6.92 $ 7.15 $ 15.13 $ 14.63
Administrative Expenses PMPM $ 17.33 $ 31.14 $ 21.03 $ 17.27 $ 11.04
Net Income PMPM $ 5.66 $ 22.49 $ 6.28 $ 15.55 $ 7.84
           
Provision for Fed Taxes $ - $ 1,284,994 $ (60,019) $ 487,032 $ 1,300,727

*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: February 10, 2012