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Maine.gov > PFR Home > Insurance Regulation > HMO > Financial Summary > 2008 Quarter 1

Maine HMO Financial Summary - 2008 Quarter 1

HMO Quarterly Statement Data

As of 3/31/2008

1st Quarter, 2008 Results Aetna Health CIGNA Healthcare HMO Maine** Martins Point
Generations		 Harvard Pilgrim Health Care* Arcadian Health Plan***
Total Admitted Assets $47,689,568 $13,466,889   $2,971,448 $757,929,409 $70,784,469
Premium Receivables $837,796 $408,096   $58,695 $8,848,849 $5,939,624
Claims Payable $14,355,087 $1,280,213   $917,231 $214,992,997 $25,419,583
Total Liabilities $16,402,052 $2,430,552   $1,506,883 $378,411,831 $51,336,608
Surplus Notes $ - $ -   $ - $110,222,471 $ -
Total Net Worth $31,287,516 $11,036,337   $1,464,565 $379,517,578 $19,447,860

 

member months

 103,088 11,081 273,749 2,481 1,327,636 72,851
enrollees 33,984 3,686 90,503 870 415,520 24,930

 

Premium

$39,093,394 $3,814,746 $103,447,520 $1,400,345 $510,193,611 $51,926,895
Fee-For-Service $ - $ - $ - $ - $ - $ -
Total Revenues $39,113,302 $3,814,746 $103,447,520 $1,400,345 $510,193,611 $51,926,895
Total Medical & Hospital Expenses $32,928,636 $2,486,483 $88,416,956 $1,342,803 $458,702,184 $43,123,234
Total Claims Adjustment Expenses $696,376 $79,443 $1,571,845 $19,544 $24,555,044 $4,156,891
Total General Administration Expenses $4,043,864 $576,938 $2,221,217 $ - $27,893,607 $8,792,924
Net Underwriting Gain(Loss) $1,464,824 $671,882 $11,237,502 $(463,672) $(957,224) $(4,146,154)
Pre-tax Income(Loss) $1,391,076 $830,373 $12,445,911 $(437,803) $7,476,627 $(3,390,149)
Net Income(Loss) $747,673 $698,021 $8,089,843 $(437,803) $7,476,627 $(3,390,149)

 

Health Care Expense Ratio

 84.23% 65.18% 85.47% 95.89% 89.91% 83.05%
Claims Adjustment Expense Ratio 1.78% 2.08% 1.52% 1.40% 4.81% 8.01%
Administrative Expense Ratio 10.34% 15.12% 2.15% 0.00% 5.47% 16.93%
Net Profit Margin 1.91% 18.30% 7.82% -31.26% 1.47% -6.53%
Total Premium Revenue PMPM $379.22 $344.26 $377.89 $564.43 $384.29 $712.78
Health Care Expense PMPM $319.42 $224.39 $322.99 $541.23 $345.50 $591.94
Claims Adjustment Expense PMPM $6.76 $7.17 $5.74 $7.88 $18.50 $57.06
Administrative Expense PMPM $39.23 $52.07 $8.11 $ - $21.01 $120.70
Net Income PMPM $7.25 $62.99 $29.55 $(176.46) $5.63 $(46.54)

 

Income Taxes Incurred

 $643,403 $132,352 $4,356,068 $ - $ - $ -

*Harvard Pilgrim (not-for-profit) numbers include business in other New England states.
**HMO Maine operates as a line of business of Anthem Health Plans of Maine, Inc.
***Arcadian Health Plan numbers include business from four other states.

Last Updated: June 24, 2009