Big health plans mark a profitable year
Quick View. March 8, 2004.
| |
Revenue |
Change |
Net income |
Change |
| Aetna* |
$18 billion |
-9.5% |
$967 million |
137.0% |
| Anthem |
$16.5 billion |
24.1% |
$774 million |
41.0% |
| CIGNA |
$18.8 billion |
2.9% |
$668 million |
268.0% |
| Health Net |
$11.1 billion |
8.8% |
$324 million |
16.5% |
| Humana |
$12.2 billion |
8.6% |
$229 million |
60.0% |
| Oxford |
$4.2 billion |
10.2% |
$352 million |
58.5% |
| PacifiCare |
$11 billion |
1.3% |
$243 million |
132.0% |
| UnitedHealth |
$28.8 billion |
15.2% |
$1.8 billion |
35.0% |
| WellPoint |
$20.4 billion |
21.0% |
$935 million |
33.0% |
Large, publicly traded health plans had strong profit growth and revenue increases last year. Eight out of nine plans posted revenue gains over 2002, with a mean percentage increase of 11.5%. All nine plans posted increases in profits, with a mean percentage increase of 86.8%. The only plan with diminished revenue was Aetna, which continued to try to, in its words, "grow profitably" by reducing its customer base in some markets.
* Aetna posted a net loss of $2.5 billion in 2002 but attributed it to "noncash impairment of goodwill" relating to a change in accounting standards.
Source: Company financial releases
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Copyright 2004 American Medical Association. All rights reserved.
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