How 7 insurers fared in Q1
Seven for-profit health insurers saw their revenues and profits increase during the first quarter of the 2021 fiscal year.
Here’s how they fared:
1. Cigna recorded revenue of $41 billion in the three months ended March 31, up from $38.5 billion in the same period a year prior. The insurer ended the quarter with a $1.2 billion profit, nearly unchanged from the previous year.
2. CVS Health said its healthcare benefits segment Aetna saw total revenue increase 6.7 percent, and adjusted operating income increase 19.5 percent. The company said it gained 214,000 new members since Dec. 31.
3. Humana’s revenues grew 9.2 percent year over year to $20.7 billion in the three months ended March 31. The insurer’s first-quarter profit, $828 million, is 75.1 percent higher than it was in the same period last year.
4. Centene recorded revenues of $30 billion in the first quarter of 2021, up 15 percent from the same period a year earlier. Centene ended the quarter with a $699 million surplus, compared to $46 million in the same period last year.
5. UnitedHealth Group’s revenue grew to $70.2 billion in the three months ended March 31, compared to $64.4 billion in the same period last year. UnitedHealth ended the first quarter with a $4.9 billion profit, up from $3.4 billion in the same period a year prior.
6. Anthem’s revenue grew 9.3 percent in the first quarter of 2021 to $32.4 billion. Anthem ended the quarter with a $1.7 billion surplus, up from $1.5 billion in the same period a year prior.
7. Molina Healthcare reported total revenue of $6.5 billion for the first quarter of 2021, up 43 percent year over year. The insurer posted a $228 million profits in the first quarter, up 33 percent year over year.
© Copyright ASC COMMUNICATIONS 2021. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.