Humana 2003 Annual Report Download - page 46
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Comparison of Results of Operations for 2002 and 2001
Certain financial data for our two segments was as follows for the years ended December 31, 2002
and 2001:
Change
2002 2001 Dollars Percentage
(in thousands, except ratios)
Premium revenues:
Fully insured ................................. $ 5,499,033 $4,941,888 $ 557,145 11.3%
Specialty ..................................... 337,295 304,714 32,581 10.7%
Total Commercial ......................... 5,836,328 5,246,602 589,726 11.2%
Medicare+Choice .................................. 2,629,597 2,909,478 (279,881) (9.6)%
TRICARE ................................... 2,001,474 1,341,557 659,917 49.2%
Medicaid .................................... 462,998 441,324 21,674 4.9%
Total Government ......................... 5,094,069 4,692,359 401,710 8.6%
Total ................................ $10,930,397 $9,938,961 $ 991,436 10.0%
Administrative services fees:
Commercial .................................. $ 103,203 $ 84,204 $ 18,999 22.6%
Government .................................. 141,193 52,886 88,307 167.0%
Total .................................... $ 244,396 $ 137,090 $ 107,306 78.3%
Income (loss) before income taxes: ....................
Commercial .................................. $ (15,174) $ (2,013) $ (13,161) 653.8%
Government .................................. 225,108 185,093 40,015 21.6%
Total .................................... $ 209,934 $ 183,080 $ 26,854 14.7%
Medical expense ratios:
Commercial .................................. 83.5% 83.1% 0.4
Government .................................. 83.8% 83.6% 0.2
Total .................................... 83.6% 83.3% 0.3
SG&A expense ratios:
Commercial .................................. 18.0% 17.6% 0.4
Government .................................. 13.5% 12.8% 0.7
Total .................................... 15.9% 15.3% 0.6
Medical membership was as follows at December 31, 2002 and 2001:
Change
2002 2001 Members Percentage
Commercial segment medical members:
Fully insured ...................................... 2,340,300 2,301,300 39,000 1.7%
ASO ............................................. 652,200 592,500 59,700 10.1%
Total Commercial .............................. 2,992,500 2,893,800 98,700 3.4%
Government segment medical members: ....................
Medicare+Choice .................................. 344,100 393,900 (49,800) (12.6)%
Medicaid ......................................... 506,000 490,800 15,200 3.1%
TRICARE ........................................ 1,755,800 1,714,600 41,200 2.4%
TRICARE ASO .................................... 1,048,700 942,700 106,000 11.2%
Total Government .............................. 3,654,600 3,542,000 112,600 3.2%
Total medical membership ............................... 6,647,100 6,435,800 211,300 3.3%
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