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Life Health > Health Insurance

American Medical Reports Higher 1st Quarter Net

By Staff Writer

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NU Online News Service, May 7, 2:26 p.m. – American Medical Security Group Inc., Green Bay, Wis., is reporting $5.4 million in net income for the first quarter on $204 million in revenue, compared with a $5.1 million net loss on $232 million in revenue for the first quarter of 2001.

The health insurance company says it provided or administered major medical insurance, dental insurance and other forms of health insurance for 539,481 people at the end of the quarter, down from 652,716 a year earlier.

Enrollment fell because of efforts to increase rates, eliminate unprofitable business and fatten profit margins, American Medical says.

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