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Maine.gov > PFR Home > Insurance Regulation > HMO > Financial Summary > 2001 Quarter 2

Maine HMO Financial Summary - 2001 Quarter 2

HMO Quarterly Statement Data

As of 6/30/2001

2nd Quarter, 2001 Results Harvard* Aetna US Healthcare CIGNA Healthcare ME Partners HMO Maine** HMO Maine***
             
Total Admitted Assets $ 341,459,951 $ 59,314,816 $ 49,100,863 $ 31,777,150    
Premium Receivables $ 417,662 $ 1,960,168 $ 5,814,691 $ -    
Claims Payable $ 139,634,856 $ 26,553,752 $ 22,791,495 $ 13,766,610    
Loans & Notes Payable-both short & long $ - $ - $ - $ -    
Total Liabilities $ 238,242,673 $ 44,450,566 $ 31,333,178 $ 22,913,213    
Surplus Notes $ 4,001,313 $ - $ 8,681,808 $ -    
Total Net Worth $ 103,217,278 $ 14,864,250 $ 17,767,685 $ 8,863,937    
             
member months 3,601,294 486,384 399,616 307,047 754,492 754,492
enrollees 591,392 79,524 65,353 51,535 125,316 125,316
             
Premium $ 821,407,295 $ 94,904,416 $ 78,821,228 $ 56,585,518 $ 170,666,373 $ 88,757,160
Fee-For-Service $ 185,944 $ - $ - $ - $ - $ -
Total Revenues $ 838,892,505 $ 94,904,416 $ 78,821,228 $ 56,585,518 $ 170,666,373 $ 88,757,160
Total Medical & Hospital Expenses $ 731,442,425 $ 93,302,399 $ 72,532,744 $ 51,586,202 $ 147,328,784 $ 77,263,496
Total Administration Expenses $ 103,835,004 $ 12,203,451 $ 8,039,824 $ 9,855,562 $ 13,620,717 $ 6,352,561
Pre-tax Income(Loss) $ 5,483,093 $ (15,118,996) $ (1,000,479) $ (4,331,736) $ 11,775,784 $ 6,211,865
Net Income(Loss) $ 5,483,093 $ (12,367,090) $ (784,833) $ (4,331,736) $ 10,444,474 $ 7,159,919
             
Health Care Expense Ratio 89.0% 98.3% 92.0% 91.2% 86.3% 87.1%
Administrative Expense Ratio 12.6% 12.9% 10.2% 17.4% 8.0% 7.2%
Net Profit Margin 0.7% -13.0% -1.0% -7.7% 6.1% 8.1%
Total Premium Revenue PMPM $228.14 $195.12 $197.24 $184.29 $226.20 a
Health Care Expense PMPM $203.11 $191.83 $181.51 $168.01 $195.27 a
Administrative Expenses PMPM $28.83 $25.09 $20.12 $32.10 $18.05 a
Net Income PMPM $1.52 ($25.43) ($1.96) ($14.11) $13.84 a
             
Provision for Fed Taxes $ - $ (2,751,906) $ (215,646) $ - $ 1,331,310 $ (948,054)

*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