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Oxford Reports Higher 4th Quarter Net Income

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NU Online News Service, Feb. 5, 4:49 p.m. – Oxford Health Plans Inc., Norwalk, Conn., is reporting $94 million in net income for the fourth quarter of 2001 on $1.1 billion in revenue, up from $45 million in net income on $1 billion in revenue for the fourth quarter of 2000.

The managed care company provides or administers major medical coverage for 1.5 million people. The company ended 2001 with about as many major medical members as it had a year earlier.

Oxford averaged $65 in net income and $759 in revenue per insured member for the latest quarter, up from an average of $31 in net income and $700 in revenue for the comparable period in 2000.