Florida Hospital Association Report on HMO Trends: HMO profits up in Florida even as enrollment is down
The Florida Hospital Association recently released a report on Florida HMO trends during the final quarter of 2010, as reported by The Florida Current below. To view the complete report, click here.
HMO profits up in Florida even as enrollment is down
Christine Jordan Sexton, 5/20/2011
http://www.thefloridacurrent.com/
Commercial enrollment was down but Medicare and Medicaid enrollment was up -- as were profits -- at Florida HMOs in the last quarter of 2010, a data brief released by the Florida Hospital Association this week shows.
The health maintenance organization with the largest enrollment as of Dec. 31 was Humana Medical Plan which had 493,768 members. Aetna Health Plan of Florida was second in membership with 364,282 lives.
Net income for the plans in the fourth quarter of 2010 was $675.8 million, up from $573.8 million from the fourth quarter of 2009.
The plan with the highest profit margin in the fourth quarter of 2010 was Cigna Healthcare which, according to the FHA report, had a 27.1 percent profit margin. Health Options -- a Leon County based HMO -- had the second highest profit margin for the fourth quarter of 2010 with 10.7 percent profit, according to the FHA.
Florida Association of Health Plans President and Chief Executive Officer Michael Garner said that the data brief was somewhat limited because it’s only one quarter’s worth of information. “One quarter does not make a trend,'' he said.
He also noted that the publicly available brief does not differentiate among lines of businesses and that plans that sell commercial-only policies are being compared to plans that sell Medicaid-only benefits.
“You’ve got to be careful that you’re not talking about apples and oranges,” Garner said.
There is no dispute with the enrollment, though. Overall, HMO enrollment was at 3.6 million Floridians and was slightly lower in the fourth quarter of 2010 than it was for the same period of 2009.
Specifically, commercial enrollment in 2010 was down 6 percent from the previous year to 1.6 million Floridians. But Medicare enrollment jumped 3.2 percent from the previous year’s time to 773,712 members.
Medicaid enrollment -- which will swell under the Medicaid overhaul the Legislature passed this year -- increased by 2.9 percent over the fourth quarter of 2009 to 1.1 million people.
:
HMO profits up in Florida even as enrollment is down
Christine Jordan Sexton, 5/20/2011
http://www.thefloridacurrent.com/
Commercial enrollment was down but Medicare and Medicaid enrollment was up -- as were profits -- at Florida HMOs in the last quarter of 2010, a data brief released by the Florida Hospital Association this week shows.
The health maintenance organization with the largest enrollment as of Dec. 31 was Humana Medical Plan which had 493,768 members. Aetna Health Plan of Florida was second in membership with 364,282 lives.
Net income for the plans in the fourth quarter of 2010 was $675.8 million, up from $573.8 million from the fourth quarter of 2009.
The plan with the highest profit margin in the fourth quarter of 2010 was Cigna Healthcare which, according to the FHA report, had a 27.1 percent profit margin. Health Options -- a Leon County based HMO -- had the second highest profit margin for the fourth quarter of 2010 with 10.7 percent profit, according to the FHA.
Florida Association of Health Plans President and Chief Executive Officer Michael Garner said that the data brief was somewhat limited because it’s only one quarter’s worth of information. “One quarter does not make a trend,'' he said.
He also noted that the publicly available brief does not differentiate among lines of businesses and that plans that sell commercial-only policies are being compared to plans that sell Medicaid-only benefits.
“You’ve got to be careful that you’re not talking about apples and oranges,” Garner said.
There is no dispute with the enrollment, though. Overall, HMO enrollment was at 3.6 million Floridians and was slightly lower in the fourth quarter of 2010 than it was for the same period of 2009.
Specifically, commercial enrollment in 2010 was down 6 percent from the previous year to 1.6 million Floridians. But Medicare enrollment jumped 3.2 percent from the previous year’s time to 773,712 members.
Medicaid enrollment -- which will swell under the Medicaid overhaul the Legislature passed this year -- increased by 2.9 percent over the fourth quarter of 2009 to 1.1 million people.
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