Mark Farrah Associates Assesses 3rd Quarter 2014 Performance of Leading Health Plans
KENNEBUNK, Maine--(PRNewswire)--Mark Farrah Associates (MFA), www.markfarrah.com, noted in its latest Healthcare Business Strategy report that most of the leading health plans saw aggregate enrollment gains for 3rd quarter 2014 but experienced downturns in profitability. MFA assessed year-over-year enrollment changes and profitability as of 3rd quarter 2014 for seven leaders in the health insurance industry: Aetna, Cigna, HCSC (Health Care Service Corporation), Humana, Kaiser Permanente, UnitedHealth and Anthem. Membership data, financial statistics and observations were gleaned from the January 2014 Health Insurer Insights™ series, a Mark Farrah Associates™ publication.
As of September 2014, combined 3rd quarter results for the top leaders indicated enrollment growth of 5.6 million, covering more than 145 million U.S. members in risk and self-funded ASO (administrative services only), commercial and government plans. Aetna, HCSC, Anthem, and Humana all reported enrollment gains of more than one million members year-over-year.
Anthem's third quarter 2014 medical membership increased over 2 million with a total of 37.5 million members while UnitedHealth's total U.S. medical membership was 36.7 million, reflecting a decrease of 375,000 when compared to 3rd quarter 2013. Aetna, Cigna, HCSC and Kaiser all experienced growth in both risk and ASO enrollment. Humana's individual enrollment increased by approximately 630,000 members year-over-year. Health Care Service Corporation (HCSC) affiliate Blues plans also experienced significant growth in individual membership, gaining 737,095 members from September 2013 to September 2014.
Profitability saw a slight downturn for the majority of leading health plans for third quarter 2014, when compared to 2013. Aetna's 3Q14 profit margin was 4.4%, UnitedHealth's was 5.89% and Anthem's margin was 3.8%, a decrease of 0.7% year-over-year. Kaiser was the only top plan to report improvement in profitability for 3Q14 with a profit margin of 7.26%, an increase of 1.9% from the previous year.
To read the full text of "Membership for Leading Health Plans Up 5.6 Million from 3Q13 to 3Q14", visit the Analysis Briefs library on Mark Farrah Associates' website www.markfarrah.com.
About Health Insurer Insights™
Health Insurer Insights™ presents strategic business intelligence on the nation's leading health insurers. This quarterly report series provides detailed yet concise overviews of the Top 10 health insurers with keen insights about the company's market position and strategic focus. For more information about Health Insurer Insights™, refer to the product video and brochure on the product page or call 207.985.8484.
About Mark Farrah Associates (MFA)
Mark Farrah Associates™ (MFA) is a leading data aggregator and publisher providing health plan market data and analysis tools for the healthcare industry. We are a licensed redistributor of NAIC data. MFA's Health Coverage Portal™ includes both risk-based and administrative services only membership and detailed financial data by plan, parent, state, region and nationally. Our product portfolio includes Health Coverage Portal™, County Health Coverage™, Health Insurer Insights™, Medicare Business Online™, Medicare Benefits Analyzer™, and Health Plans USA™. Visit our website to learn more about our products and services - - www.markfarrah.com.
Mark Farrah Associates
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SOURCE Mark Farrah Associates