One publicly traded health insurer that’s planning to stay in the market in 2016 — Anthem Inc. (NYSE:ANTM) — has just released earnings.

So has one carrier that’s agreed to an acquisition, Humana Inc. (NYSE:HUM), and one, Assurant Inc. (NYSE:AIZ), that’s announced plans to shut down its health insurance unit and focus on other markets.

For a look at what the companies have been saying about their financial results, the Patient Protection and Affordable Care Act (PPACA) and the overall economic climate, read on.

Indianapolis

1. Anthem

Anthem is reporting $859 million in net income for the second quarter on $20 billion in revenue, up from $731 million in net income on $18 billion in revenue for the second quarter of 2014.

The Indianapolis-based company ended the quarter providing or administering health coverage for 38 million people, 3.4 percent more than it was covering a year earlier.

Enrollment in self-funded plans increased 3.1 percent, and enrollment in fully insured plans increased 2.2 percent.

Anthem has agreed to acquire Cigna Corp. (NYSE:CI).

See also: Anthem $1.4 billion in Cigna deal admin savings

Joe Swedish, the company’s president, said during a conference call with securities analysts that insured group plan enrollment was flat. Enrollment in large self-insured employer-sponsored plans was up. The company had 893,000 enrollees in PPACA exchange plans. Exchange qualified health plan (QHP) enrollment was down 5,000 from the end of the first quarter, and that attrition is lower than expected, Swedish said.

Wayne DeVedt, the chief financial officer (CFO), shed some light on Anthem’s views on the PPACA “three R’s” risk-management programs.

Anthem is on track to get about as much cash as it had expected from the PPACA reinsurance program and will owe a bigger payable than it expected to the PPACA risk-adjustment program, DeVeydt said. The risk-adjustment program is supposed to use cash from issuers with low-risk enrollees to help issuers with high-risk enrollees.

See also: PPACA: Rise of the health detectives?

Even though the risk-adjustment payable is bigger than Anthem had hoped, Anthem has maintained excess reserves to protect itself against PPACA surprises, and the reserves will keep the risk-adjustment payable from hurting Anthem’s earnings, DeVeydt said.

Of the risk corridors program, DeVeydt said, “We’re pretty much in a net-neutral position…. We’re not really expecting any surprises.”

Image: Indianapolis (TS)

Louisville

2. Humana

Humana is in the process of getting acquired by Aetna Inc. (NYSE:AET) and has stopped holding earnings calls.

See also: Aetna agrees to buy Humana for $37 billion

Humana is reporting $431 million in net income for the latest quarter on $14 billion in revenue, compared with $344 million in net income on $12 billion in revenue for the second quarter of 2014.

The company ended the quarter providing or administering medical coverage for 14 million people, up 4.2 percent from a year earlier. Enrollment in individual commercial plans of all kinds fell 7.5 percent, to 1 million, and enrollment in group commercial coverage fell 8.4 percent, to 5 million. Enrollment in individual Medicare Advantage plans increased 15 percent, to 2.7 million.

Humana provided detailed information on its three R’s program balance estimates. The company believes it was to get $689 million from the reinsurance program for 2014 and the first half of 2015 and pay $166 million into the risk-adjustment program.

The company suggests that it could get $899 million from the risk corridors program.

The program is supposed to use cash from insurers with solid operating results to help exchange plan issuers with poor results. Some have questioned whether the Centers for Medicare & Medicaid Services (CMS) will collect enough money from insurers with solid operating results to make good on all risk corridors obligations, but CMS officials have asked state insurance regulators to keep the program in mind when evaluating insurers’ 2016 rate proposals.

See also: Official: PPACA risk corridors program will make payments

Image: Louisville, Ky. (TS) 

Milwaukee

 3. Assurant

Assurant says it’s selling parts of the Assurant Health unit to National General Holdings, shutting the rest of the health unit in 2016, and seeking a buyer for the Assurant Employee Benefits unit.

See also: Assurant puts health, benefits units up for sale

Assurant as a whole is reporting $33 million in net income for the latest quarter on $2.6 billion in revenue, compared with $145 million in net income on $2.6 billion in revenue for the second quarter of 2014.

The benefits unit is reporting $11 million in net operating income for the latest quarter on $276 million in net earned premiums, fees and other revenue, compared with $14 million in net operating income on $269 million in revenue for the year-earlier quarter.

Life and disability claims were higher, but dental experience was better, and voluntary product revenue and sales grew, Assurant says.

The health unit is posting a $124 million net loss, compared with a net loss of $2.5 million for the year-earlier quarter.

The company said it hopes to get $356 million in cash from the PPACA reinsurance and risk-adjustment programs for 2014, and $237 million for the first half of 2015. The company said it believes it should qualify to get cash from the risk corridors program but is not including any risk corridors recoverables in its results.

The company is setting aside $80 million for premium deficiency reserves for Assurant Health, $14.5 million for asset impairments and contract and lease terminations related to the unit shutdown, and $9.4 million for severance costs and employee retention payments related to the shutdown.

The deficiency reserves “reflect our view that future premiums and current claims reserves for major medical will be inadequate to cover future claims and direct expenses,” Chris Pagano, the company’s CFO, said today during a conference call with securities analysts. 

Image: Milwaukee (TS) 

CORRECTION: An earlier version of this story described Assurant’s plans for the Assurant Health and Assurant Employee Benefits units incorrectly. The company has announced an agreement to sell some health unit assets. The company has said it is seeking a buyer for the benefits unit.