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Maine.gov > PFR Home > Insurance Regulation > HMO > Financial Summary > 2001 Quarter 1

Maine HMO Financial Summary - 2001 Quarter 1

HMO Quarterly Statement Data

As of 3/31/2001

1st Quarter, 2001 Results Harvard* Aetna US Healthcare CIGNA Healthcare ME Partners HMO Maine** HMO Maine***
             
Total Admitted Assets $ 364,605,188 $ 55,591,736 $ 43,787,251 $ 27,370,629    
Premium Receivables $ 3,898,872 $ 1,860,624 $ 5,404,928 $ -    
Claims Payable $ 158,241,197 $ 27,252,069 $ 21,416,756 $ 13,165,059    
Loans & Notes Payable-both short & long $ - $ - $ - $ -    
Total Liabilities $ 260,429,560 $ 35,572,382 $ 26,451,133 $ 16,287,181    
Surplus Notes $ 4,411,475 $ - $ 8,681,808 $ -    
Total Net Worth $ 104,175,628 $ 20,019,354 $ 17,336,118 $ 11,083,448    
             
member months 1,827,136 247,840 201,802 152,552 378,715 378,715
enrollees 606,143 81,518 67,522 51,373 126,481 126,481
             
Premium $ 411,338,031 $ 47,631,424 $ 38,944,211 $ 27,672,188 $ 83,785,133 $ 17,255,113
Fee-For-Service $ 91,737 $ - $ - $ - $ - $ -
Total Revenues $ 420,355,281 $ 47,631,424 $ 38,964,635 $ 27,672,188 $ 83,785,133 $ 17,255,113
Total Medical & Hospital Expenses $ 364,971,140 $ 45,820,524 $ 36,216,713 $ 24,739,719 $ 72,679,013 $ 15,075,095
Total Administration Expenses $ 53,815,476 $ 6,173,622 $ 3,953,972 $ 4,844,043 $ 8,060,613 $ 1,681,683
Pre-tax Income(Loss) $ 2,854,000 $ (5,695,369) $ (859,912) $ (1,633,936) $ 4,261,357 $ 1,714,185
Net Income(Loss) $ 2,854,000 $ (4,509,494) $ (566,713) $ (1,633,936) $ 3,551,499 $ 1,004,327
             
Health Care Expense Ratio 88.7% 96.2% 93.0% 89.4% 86.7% 87.4%
Administrative Expense Ratio 13.1% 13.0% 10.2% 17.5% 9.6% 9.7%
Net Profit Margin 0.7% -9.5% -1.5% -5.9% 4.2% 5.8%
Total Premium Revenue PMPM $225.18 $192.19 $192.98 $181.40 $221.24 a
Health Care Expense PMPM $199.75 $184.88 $179.47 $162.17 $191.91 a
Administrative Expenses PMPM $29.45 $24.91 $19.59 $31.75 $21.28 a
Net Income PMPM $1.56 ($18.20) ($2.81) ($10.71) $9.38 a
             
Provision for Fed Taxes $ - $ (1,185,875) $ (293,199) $ - $ 709,858 $ 709,858

*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