Top Health Plans Feel recession Mark Farrah Associates
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Top Health Plans Feel recession Mark Farrah Associates
Business Editors
Kennebunk, Maine - (BUSINESS WIRE) - February 19, 2009 - With eight health plans that cover 58% of the insured population in the nation, monitoring their financial health is crucial. Mark Farrah Associates reviewed financial trends and registration for major health insurance plans of the United States and profitability has declined to September 30, 2008. In addition, growth for the quarter slowed to some of these major projects.
Based on the analysis of eight insurance companies, profit margins for all plans fell to date through September 30, 2008. For example, UnitedHealth Group's Health Care Services (HCS) business unit saw profit margins from a sharp fall of 9.3% for the nine months ended September 30, 2007 to a low of 6.6% at 30 June 2008. Like most industries, health insurers are feeling the effects of the economy and the layoffs and budget cuts have been widespread. Stable margins facilitate health plans to keep premium increases low.
The total membership of these eight plans together has increased by nearly 6.2 million between 30 September 2007 and September 30, 2008, up 5%. Administrative Services Only (ASO) enrollment increased 8.7% and fully insured (risk) has now increased by 1% over the year for these plans. Although the number of good year after year, the variation between the second and third quarter was not very bright. ASO registration for top health plans with a simple increase of 0.17% between 30 June 2008 and September 30, 2008, down 1.3% for the same period in 2007. Risk of entry for these eight plans increased by only 43,438 members for the third quarter of 2008.
Visit the corporate strategy of health care (Healthcare BS) library on our website to read the full text of the article www.markfarrah.com.
If you need to stay abreast of changes to the health and stay informed about business strategies for health insurers to the top of the page, subscribe to the Insurer Insights ™ and receive health updates days company profiles every three months. AMF call 207.985.8484 to request a health insurance Insights ™ report.
About Mark Farrah Associates (MFA)
Since 1997 Mark Farrah Associates (MFA) has been recognized as a leader in analyzing the activity of health insurance. Committed to simplifying the analysis of the industry of health insurance by providing market data and analysis tools, our products have Medicare Business Online ™, the Health Portal ™ coverage, health insurance Insights ™, and Health Plans USA ™.
Mark Farrah Associates
Debra Donahue, 207-985-8484
www.markfarrah.com
State Keywords: Maine
Industry Keywords: health, health of other professional services, finance, insurance
Source: Mark Farrah Associates (MFA)
Copyright © 2009 Business Wire Business Editors Kennebunk, Maine - - February 19, 2009 - With eight health plans that cover 58% of the insured population in the nation, monitoring their financial health is crucial.
Business Editors
Kennebunk, Maine - (BUSINESS WIRE) - February 19, 2009 - With eight health plans that cover 58% of the insured population in the nation, monitoring their financial health is crucial. Mark Farrah Associates reviewed financial trends and registration for major health insurance plans of the United States and profitability has declined to September 30, 2008. In addition, growth for the quarter slowed to some of these major projects.
Based on the analysis of eight insurance companies, profit margins for all plans fell to date through September 30, 2008. For example, UnitedHealth Group's Health Care Services (HCS) business unit saw profit margins from a sharp fall of 9.3% for the nine months ended September 30, 2007 to a low of 6.6% at 30 June 2008. Like most industries, health insurers are feeling the effects of the economy and the layoffs and budget cuts have been widespread. Stable margins facilitate health plans to keep premium increases low.
The total membership of these eight plans together has increased by nearly 6.2 million between 30 September 2007 and September 30, 2008, up 5%. Administrative Services Only (ASO) enrollment increased 8.7% and fully insured (risk) has now increased by 1% over the year for these plans. Although the number of good year after year, the variation between the second and third quarter was not very bright. ASO registration for top health plans with a simple increase of 0.17% between 30 June 2008 and September 30, 2008, down 1.3% for the same period in 2007. Risk of entry for these eight plans increased by only 43,438 members for the third quarter of 2008.
Visit the corporate strategy of health care (Healthcare BS) library on our website to read the full text of the article www.markfarrah.com.
If you need to stay abreast of changes to the health and stay informed about business strategies for health insurers to the top of the page, subscribe to the Insurer Insights ™ and receive health updates days company profiles every three months. AMF call 207.985.8484 to request a health insurance Insights ™ report.
About Mark Farrah Associates (MFA)
Since 1997 Mark Farrah Associates (MFA) has been recognized as a leader in analyzing the activity of health insurance. Committed to simplifying the analysis of the industry of health insurance by providing market data and analysis tools, our products have Medicare Business Online ™, the Health Portal ™ coverage, health insurance Insights ™, and Health Plans USA ™.
Mark Farrah Associates
Debra Donahue, 207-985-8484
www.markfarrah.com
State Keywords: Maine
Industry Keywords: health, health of other professional services, finance, insurance
Source: Mark Farrah Associates (MFA)
Copyright © 2009 Business Wire Business Editors Kennebunk, Maine - - February 19, 2009 - With eight health plans that cover 58% of the insured population in the nation, monitoring their financial health is crucial.
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