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A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
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Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
May 02, 2002 at 08:00 PM
NU Online News Service, May 2, 2:19 p.m. – Health Net Inc., Woodland Hills, Calif., is reporting $50 million in net income for the first quarter on $2.5 billion in revenue, compared with $42 million in net income on $2.5 billion in revenue for the first quarter of 2001.
Health Net provided or administered major medical coverage for 4.5 million people at the end of the latest quarter, down from 5.2 million people a year earlier.
Average revenue per insured member fell 8.7%, to $501.
Although overall enrollment was down, small group and individual enrollment increased 21%, and the ratio of medical costs to premium revenue decreased, Health Net says.
Health plan revenue was down partly because of the sale of a health plan in Florida, and partly because of “planned departures from certain uneconomic large group accounts,” Health Net says.
Health Net notes that it is trying to reduce its exposure to large groups, as well as to Medicare.
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