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Anthem Reports Higher Net Income

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NU Online News Service, Nov. 14, 12:25 p.m. – Anthem Inc., Indianapolis, is reporting $111 million in net income for the third quarter on $2.5 billion in revenue, up from $63 million in net income on $2.2 billion in revenue for the third quarter of 2000.

Anthem is health insurer that holds the Blue Cross and Blue Shield licenses for Indiana, Ohio, Kentucky, and other states. In addition to selling major medical insurance, it sells administrative services to self-insured employee health plans.

Total major medical enrollment increased to 7.8 million Sept. 30, up 10% from a year earlier.

Enrollment in fully insured programs increased 2%, to 3.8 million.

Average premium revenue per fully insured member increased 11%, to $614.

Increases in the cost of outpatient care and prescription drugs have pushed overall medical costs up about 12% over the past 12 months, Anthem says.