Humana 2003 Annual Report Download - page 42
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Comparison of Results of Operations for 2003 and 2002
Certain financial data for our two segments was as follows for the years ended December 31, 2003
and 2002:
Change
2003 2002 Dollars Percentage
(in thousands, except ratios)
Premium revenues:
Fully insured ................................ $ 6,240,806 $ 5,499,033 $ 741,773 13.5%
Specialty ................................... 320,206 337,295 (17,089) (5.1)%
Total Commercial ........................ 6,561,012 5,836,328 724,684 12.4%
Medicare+Choice ............................ 2,527,446 2,629,597 (102,151) (3.9)%
TRICARE .................................. 2,249,725 2,001,474 248,251 12.4%
Medicaid ................................... 487,100 462,998 24,102 5.2%
Total Government ........................ 5,264,271 5,094,069 170,202 3.3%
Total .............................. $11,825,283 $10,930,397 $ 894,886 8.2%
Administrative services fees:
Commercial ................................. $ 122,846 $ 103,203 $ 19,643 19.0%
Government ................................. 148,830 141,193 7,637 5.4%
Total .................................. $ 271,676 $ 244,396 $ 27,280 11.2%
Income (loss) before income taxes:
Commercial ................................. $ 121,010 $ (15,174) $ 136,184 897.5%
Government ................................. 223,706 225,108 (1,402) (0.6)%
Total .................................. $ 344,716 $ 209,934 $ 134,782 64.2%
Medical expense ratios:
Commercial ................................. 82.9% 83.5% (0.6)
Government ................................. 84.3% 83.8% 0.5
Total .................................. 83.5% 83.6% (0.1)
SG&A expense ratios:
Commercial ................................. 16.9% 18.0% (1.1)
Government ................................. 13.4% 13.5% (0.1)
Total .................................. 15.4% 15.9% (0.5)
Medical membership was as follows at December 31, 2003 and 2002:
Change
2003 2002 Members Percentage
Commercial segment medical members:
Fully insured ...................................... 2,352,800 2,340,300 12,500 0.5%
ASO ............................................. 712,400 652,200 60,200 9.2%
Total Commercial .............................. 3,065,200 2,992,500 72,700 2.4%
Government segment medical members:
Medicare+Choice .................................. 328,600 344,100 (15,500) (4.5)%
Medicaid ......................................... 468,900 506,000 (37,100) (7.3)%
TRICARE ........................................ 1,849,700 1,755,800 93,900 5.3%
TRICARE ASO .................................... 1,057,200 1,048,700 8,500 0.8%
Total Government .............................. 3,704,400 3,654,600 49,800 1.4%
Total medical membership ............................... 6,769,600 6,647,100 122,500 1.8%
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