Humana 2013 Annual Report Download - page 65
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Retail Segment
Change
2013 2012 Members Percentage
Membership:
Medical membership:
Individual Medicare Advantage ....................... 2,068,700 1,927,600 141,100 7.3%
Medicare stand-alone PDP ........................... 3,271,700 3,052,700 219,000 7.2%
Total Retail Medicare ........................... 5,340,400 4,980,300 360,100 7.2%
Individual commercial .............................. 600,100 521,400 78,700 15.1%
State-based Medicaid ............................... 85,500 52,100 33,400 64.1%
Total Retail medical members .................... 6,026,000 5,553,800 472,200 8.5%
Individual specialty membership (a) ........................ 1,042,500 948,700 93,800 9.9%
(a) Specialty products include dental, vision, and other supplemental health and financial protection products.
Members included in these products may not be unique to each product since members have the ability to
enroll in multiple products.
Change
2013 2012 Dollars Percentage
(in millions)
Premiums and Services Revenue:
Premiums:
Individual Medicare Advantage ....................... $22,481 $20,788 $1,693 8.1%
Medicare stand-alone PDP ........................... 3,025 2,853 172 6.0%
Total Retail Medicare ........................... 25,506 23,641 1,865 7.9%
Individual commercial .............................. 1,160 1,004 156 15.5%
State-based Medicaid ............................... 328 185 143 77.3%
Individual specialty ................................. 210 171 39 22.8%
Total premiums ................................ 27,204 25,001 2,203 8.8%
Services .............................................. 16 24 (8) (33.3)%
Total premiums and services revenue ............... $27,220 $25,025 $2,195 8.8%
Income before income taxes $ 1,283 $ 1,161 $ 122 10.5%
Benefit ratio ............................................... 84.2% 84.2% 0.0%
Operating cost ratio ......................................... 10.9% 11.1% (0.2)%
Pretax Results
• Retail segment pretax income was $1.3 billion in 2013, an increase of $122 million, or 10.5%,
compared to 2012 primarily reflecting improved operating performance over the prior year. The
improved operating performance primarily was driven by membership growth as well as a decrease in
the operating cost ratio.
Enrollment
• Individual Medicare Advantage membership increased 141,100 members, or 7.3%, from December 31,
2012 to December 31, 2013 reflecting net membership additions for the 2013 enrollment season and
sales to newly-eligible Medicare beneficiaries throughout the year. Effective January 1, 2013, we
divested approximately 12,600 members acquired with Arcadian Management Services, Inc. in
accordance with our previously disclosed agreement with the United States Department of Justice.
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