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American Medical Reports A Net Profit

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NU Online News Service, Nov. 8, 2:18 p.m. – American Medical Security Group Inc., Green Bay, Wis., a health insurance company, is reporting $3.5 million in net income for the third quarter on $213 million in revenue, compared with a $1.4 million net loss on $242 million in revenue for the third quarter of 2000.

The company has been one of the few midsize health insurers that has been aggressively marketing to individuals, families and small groups outside its home state. But total health segment membership fell to 580,316 Sept. 30, from 714,391 a year earlier.

“The reduction reflects the company’s actions to prioritize markets and increase prices to improve profitability,” American Medical says.

Premium revenue increased to an average of $352 per health plan member, up 8% from the average for the third quarter of 2000.