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Maine.gov > PFR Home > Insurance Regulation > HMO > Financial Summary > 2001 Annual

Maine HMO Financial Summary - 2001 Annual

HMO Annual Statement Data

As of 12/31/2001

Fiscal Year 2001 Results Harvard* Aetna US Healthcare CIGNA Healthcare ME Partners HMO Maine** HMO Maine***
             
Total Admitted Assets $ 393,248,437
 $ 51,862,895
 $ 53,228,971
 $ 32,682,964
    
Premium Receivables $ 17,975,253
 $ 2,976,089
 $ 5,292,685
 $ -    
Claims Payable $ 170,234,227
 $ 24,287,770
 $ 22,201,265
 $ 19,213,090
    
Total Liabilities $ 281,563,983
 $ 28,923,073
 $ 33,524,329
 $ 23,299,519
    
Surplus Notes $ 14,409,000
$ - $ 8,681,808
$ -    
Total Net Worth $ 111,684,454
 $ 22,939,822
 $ 19,704,641
 $ 9,383,445
    
             
member months 7,048,402
 949,534
 789,975
 601,095
 1,481,643
 1,481,643
enrollees 580,390
 72,813
 65,104
 47,832
 113,473
 113,473
             
Premium $1,645,367,347
 $194,085,693
 $158,339,833
 $115,462,963
 $348,904,828
 $207,811,812
Fee-For-Service $453,481
 $ - $ - $ - $ - $ -
Total Revenues $1,645,820,828
 $194,085,693
 $158,339,833
 $115,462,963
 $348,904,828
 $207,811,812
Total Medical & Hospital Expenses $1,455,785,540
 $183,058,257
 $141,838,987
 $103,755,791
 $304,890,120
 $178,314,895
Total Administration Expenses $153,921,038
$25,035,513
 $16,337,208
 $19,697,350
 $32,460,032
 $16,519,874
Pre-tax Income(Loss) $23,676,154
 $(9,493,882)
 $1,775,984
 $(6,843,695)
 $19,248,109
 $19,160,837
Net Income(Loss) $23,676,154
 $(4,847,876)
 $1,189,453
 $(6,836,095)
 $15,116,397
 $15,109,889
             
Health Care Expense Ratio 88.45% 94.32% 89.58% 89.86% 87.38% 85.81%
Administrative Expense Ratio 9.35% 12.90% 10.32% 17.06% 9.30% 7.95%
Net Profit Margin 1.44% -2.50% 0.75% -5.92% 4.33% 7.27%
Total Premium Revenue PMPM $233.50 $204.40 $200.44 $192.09 $235.49 a
Health Care Expense PMPM $206.54 $192.79 $179.55 $172.61 $205.78 a
Administrative Expenses PMPM $21.84 $26.37 $20.68 $32.77 $21.91 a
Net Income PMPM $3.36 ($5.11) $1.51 ($11.37) $10.20 a
             
Provision for Fed Taxes $ - $ (4,646,006) $ 586,532 $ (7,600) $ 4,131,712 $ 4,050,948

*Harvard numbers include business in other New England states.
**HMO Maine operates as a line of business of Anthem Health Plans of Maine, Inc. This information is presented gross of a quota share reinsurance arrangement.
Figures are based on results had the reinsurance arrangement not been in place.
***HMO Maine operates as a line of business of Anthem Health Plans of Maine, Inc. This information is presented net of a quota share reinsurance arrangement.
Figures are based on revenues and expenses retained by HMO Maine. Certain revenues and expenses are ceded to the reinsurer. The ceded amounts are not included in these figures.
a: Although these amounts can be calculated, they have been omitted since they do not result in a meaningful comparison when compared to the results of the other HMOs due to the quota share reinsurance arrangement.

Last Updated: June 24, 2009