Anthem Inc

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  • uploads///RAD_WBA comps
    Miscellaneous

    Could the Rite Aid–Walgreens Merger Get Competitive?

    In the Rite Aid–Walgreens merger, Walgreens is paying about 0.6x trailing-12-month revenues and 13.6x trailing-12-month EBITDA.

    By Brent Nyitray, CFA, MBA
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    Earnings Report

    Analysts’ Recommendations for Anthem in 2017

    Based on the company’s performance in 1Q17, Anthem (ANTM) has increased its 2017 revenue guidance by around $1.5 billion.

    By Margaret Patrick
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    Earnings Report

    What’s UnitedHealth Group’s outlook for 2015?

    It’s projected that UnitedHealth Group’s revenue and earnings growth in 2015 will be driven by the strong performance of the Optum segments.

    By Margaret Patrick
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    Earnings Report

    Why UnitedHealth Group Plans to Reduce Its Public Exchange Exposure

    Given the high-risk profile of individual exchange enrollments, UnitedHealth Group has decided to offer plans only on a few public exchanges in 2017.

    By Margaret Patrick
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    Miscellaneous

    Is the Cigna–Anthem Merger a Setup?

    The Cigna–Anthem merger deal will be subject to all sorts of headlines that will affect the spread. You can make a decent return trading around the position by keeping your head .

    By Brent Nyitray, CFA, MBA
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    Miscellaneous

    The Risk-to-Reward Ratio of the Cigna–Anthem Merger

    If the Cigna–Anthem merger closes, you end up making about $35 a share. If the deal breaks, then you would have to cover at $52 a share.

    By Brent Nyitray, CFA, MBA
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    Company & Industry Overviews

    Decoding Humana’s Revenue Stream in 2015

    Humana reported revenues of about $54.3 billion in its 2015 results. This amounts to a 12% revenue growth in 2015, compared to ~$48.1 billion in 2014.

    By Mike Benson
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    Company & Industry Overviews

    UnitedHealth Group Goes Ex-Dividend Today

    UnitedHealth Group (UNH) has announced that its board of directors has authorized a cash dividend of $0.90 per share.

    By Sarah Collins
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    Miscellaneous

    Allergan–Pfizer merger: What Does Pfizer Make besides Viagra?

    The Allergan–Pfizer merger will change Pfizer’s domicile to Dublin, Ireland, and allow them to gain access to overseas cash without a US repatriation tax.

    By Brent Nyitray, CFA, MBA
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    Company & Industry Overviews

    UNH’s Stock Price Performance in June

    On June 28, UnitedHealth Group (UNH) ended the trading day at $244.90, ~4.6% lower than its 52-week low of $183.86 reached on July 18, 2017.

    By Sarah Collins
  • uploads///PCL WY comps
    Miscellaneous

    Could the Plum Creek Timber-Weyerhaeuser Merger Get Competitive?

    In the Plum Creek Timber-Weyerhaeuser merger, Weyerhaeuser is paying about 7.4x trailing-12-month revenues and 25.4x trailing-12-month EBITDA.

    By Brent Nyitray, CFA, MBA
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    Earnings Report

    UNH Stock Up 4.1% on Solid Q3 2018 Results, View Up

    UnitedHealth Group (UNH) released its Q3 2018 earnings today. UNH reported sales of $56.6 billion, up ~12.4% on a year-over-year basis.

    By Sarah Collins
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    Company & Industry Overviews

    Jefferies Raised Its Target Price on UNH Stock: What’s the Outlook?

    UnitedHealth Group (UNH) is one of the largest Fortune 500 companies.

    By Sarah Collins
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    Miscellaneous

    Is the Cigna-Anthem Merger a Setup?

    Cigna has been put ‘in play,’ which means other buyers will be taking a look. The spread is wide, but there are major unanswered questions. It makes sense to give this one a wide berth.

    By Brent Nyitray, CFA, MBA
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    Miscellaneous

    Anthem Files Bear Hug Letter for Cigna on June 21

    On June 21, Anthem (ANTM) filed a bear hug letter for Cigna (CI). A bear hug letter is a formal press release in which an acquiring company discloses its interest in a target company.

    By Brent Nyitray, CFA, MBA
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    Earnings Report

    UnitedHealth Group Reports Q2 2018 Earnings, Stock Down 1.9%

    Today, UnitedHealth Group (UNH) reported its earnings results for the second quarter of fiscal 2018. The company reported sales of $56.1 billion, up ~12% on a (year-over-year) basis.

    By Sarah Collins
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    Miscellaneous

    Negative Sentiment Will Impact Health Insurance Companies

    The healthcare bill’s failure had a negative impact on investor sentiment for health insurance carriers.

    By Margaret Patrick
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    Earnings Report

    UnitedHealth Group Posted 4Q15 Earnings: What You Should Know

    UnitedHealth Group (UNH) released its 4Q15 and full year 2015 earnings on January 19, 2015. The company registered diluted EPS attributable to common shareholders of $1.26 in 4Q15 and $6 for 2015.

    By Margaret Patrick
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    Company & Industry Overviews

    UnitedHealth Group Stock at 52-Week High, Up 22% Year-to-Date

    UnitedHealth Group (UNH) stock registered its 52-week high of $270.17 last week on August 30.

    By Sarah Collins
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    Miscellaneous

    What’s the Rationale for the ITC-Fortis Merger?

    Fortis (FRTSF) is buying ITC (ITC) in the largest Canadian purchase of a US utility. Fortis intends to sell a 19% stake in order to help finance the transaction.

    By Brent Nyitray, CFA, MBA
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    Miscellaneous

    Rationale for the Starwood-Marriott Merger

    With the Starwood-Marriott merger, the companies expect to generate at least $200 million in annual cost savings beginning in the second year after the deal closes.

    By Brent Nyitray, CFA, MBA
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    Earnings Report

    Analyst Ratings for UnitedHealth before Q3 2018 Earnings

    Of the 24 analysts covering UNH stock, ten have recommended a “strong buy,” and 13 have recommended a “buy.”

    By Sarah Collins
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    Macroeconomic Analysis

    Rising US Dollar Dampens April Jobs Report—SPY Down 0.41%

    Investor sentiment in the US was dampened by the weak April jobs report that was released May 6. The non-farm private payroll gained 169,000 jobs against median expectations of 200,000.

    By Surbhi Jain
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    Company & Industry Overviews

    UnitedHealth Group’s Recent Stock Performance

    On March 14, 2018, UnitedHealth Group (UNH) ended trading at $225.38 per share.

    By Sarah Collins
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    Consumer

    Goldman Sachs: Trade War Boosts Risk of Recession

    Goldman Sachs (GS) has cut its Q4 growth forecast by 20 basis points. It now foresees the trade war impacting growth more than it previously forecast.

    By Anuradha Garg
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    Company & Industry Overviews

    This Rebate Decision Saw Health Insurers Soar Yesterday

    On Thursday, the Trump administration announced the withdrawal of the proposal to abolish rebates paid to pharmacy benefit managers by drugmakers.

    By Margaret Patrick
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    Company & Industry Overviews

    ANTM or CI: Comparing Their Revenue Growth in 2019

    In its fourth-quarter earnings press release, Anthem (ANTM) guided for 2019 operating revenue of $100 billion, a YoY (year-over-year) rise of $8.7 billion.

    By Margaret Patrick
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    Healthcare

    Wall Street Expects 9% Upside Potential for UnitedHealth Stock

    As of September 24, ten of the 24 analysts covering UNH stock have given it a “strong buy” recommendation.

    By Sarah Collins
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    Company & Industry Overviews

    Analysts Raise Target Prices on UNH Stock in September

    Of the 23 analysts covering UNH stock, all of them have “buy” or “strong buy” recommendations for UnitedHealth Group.

    By Sarah Collins
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    Earnings Report

    UnitedHealth Group Posted Strong 1Q18 Performance

    On April 17, UnitedHealth Group (UNH) reported its 1Q18 earnings results. UNH stock rose ~3.6% from its April 16 closing price.

    By Sarah Collins
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    Company & Industry Overviews

    Insys Has Legal Issues Galore

    In December 2016, the U.S. Attorney’s office for the District of Massachusetts issued an indictment against six former Insys (INSY) employees.

    By Kenneth Smith
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    Company & Industry Overviews

    Medicare Business Expected to Drive WellCare Health Plans’ Margin Growth

    In 1Q17, WellCare Health Plans’ (WCG) Medicare Health Plans business reported revenues close to $1.1 billion, which represents year-over-year growth of ~12.4%.

    By Margaret Patrick
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    Company & Industry Overviews

    Medicaid Business—A Key Revenue Driver for WellCare Health Plans in 2017

    In 1Q17, WellCare Health Plans’ (WCG) Medicaid business reported revenues close to $2.6 billion, which equals year-over-year growth of ~11.8%.

    By Margaret Patrick
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    Earnings Report

    Why Centene’s Health Benefit Ratio Improved in 1Q17

    Centene (CNC) has projected its health benefit ratio (or HBR) for the full year 2017 to fall in the range of 87.0% to 87.5%.

    By Margaret Patrick
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    Earnings Report

    Centene Saw Robust Rise in Medicaid Enrollments in 1Q17

    In 1Q17, around 12.1 million members were enrolled in Centene’s (CNC) various healthcare plans, which is a year-over-year (or YoY) rise of around 600,000 beneficiaries.

    By Margaret Patrick
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    Earnings Report

    UnitedHealth Group Witnessed Robust Customer Growth in 1Q17

    In 1Q17, UnitedHealth Group’s (UNH) UnitedHealthcare business witnessed a 2.5 million year-over-year increase in customers.

    By Margaret Patrick
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    Company & Industry Overviews

    OptumRx Continues to Boost UnitedHealth’s Pharmacy Care Services

    In its bid to control healthcare costs, UnitedHealth Group’s (UNH) OptumRx segment has been actively deploying data analytics across its Optum platform.

    By Margaret Patrick
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    Company & Industry Overviews

    Optum360: Will It Become UnitedHealth’s Key Growth Driver?

    Optum360, UnitedHealth Group’s (UNH) hospital revenue cycle management solution, is expected to reach $60.0 billion in billings for clients and partner organizations.

    By Margaret Patrick
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    Company & Industry Overviews

    How Is Mylan’s Generics Segment Doing?

    Mylan’s (MYL) 3Q16 revenues were mainly driven by a 17.0% rise in sales for its Generics segment. The segment reported $2.6 billion in sales in 3Q16.

    By Mike Benson
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    Healthcare

    Parsing the Starz-Lions Gate MAE Clause, Part 3

    If the merger caused cable providers to drop Starz because they didn’t want to work with Lions Gate, it wouldn’t be a MAE (material adverse effect).

    By Brent Nyitray, CFA, MBA
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    Healthcare

    Parsing the Starz-Lions Gate MAE Clause, Part 2

    According to the MAE (material adverse effect) clause of the Starz-Lions Gate deal, legislation that limits intellectual property protection wouldn’t be considered a MAE.

    By Brent Nyitray, CFA, MBA
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    Healthcare

    Parsing the Starz-Lions Gate MAE Clause, Part 1

    In the merger deal between Lions Gate Entertainment (LGF) and Starz (STRZA), the MAE (material adverse effect) clause lays out the circumstances under which either party can back out of the transaction.

    By Brent Nyitray, CFA, MBA
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    Miscellaneous

    The Amsurg-Envision Material Adverse Effect Clause: Part 2

    In this part of the series, we’ll look at the MAE clause of the Amsurg (AMSG) merger agreement with Envision Healthcare (EVHC) and how Amsurg could back out of the deal.

    By Brent Nyitray, CFA, MBA
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    Miscellaneous

    What Will Arbitrageurs Think of the Demandware Deal?

    Traditionally, arbitrage desks would have a portfolio of 40–50 “safe” transactions, and these make up the bread and butter of their returns.

    By Brent Nyitray, CFA, MBA
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    Miscellaneous

    What Is the Risk-Reward of the Demandware Deal?

    Demandware (DWRE) was trading at about $48 per share before the deal was announced.

    By Brent Nyitray, CFA, MBA
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    Miscellaneous

    What Does the Demandware-Salesforce Merger Entail?

    Salesforce.com (CRM) is buying e-commerce cloud computing firm Demandware (DWRE) in a $2.8 billion transaction. The merger is structured as a tender offer.

    By Brent Nyitray, CFA, MBA
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    Miscellaneous

    Salesforce Buys Demandware to Increase Growth

    On June 1, Salesforce.com (CRM) announced it was buying Demandware (DWRE) in a $2.8 billion transaction.

    By Brent Nyitray, CFA, MBA
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    Miscellaneous

    What’s the Rationale for the Bayer-Monsanto Deal?

    In the Monsanto-Bayer deal, Bayer’s shareholders should expect to see mid-single-digit accretion to core EPS (earnings per share) in the first year and double-digit accretion thereafter.

    By Brent Nyitray, CFA, MBA
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    Earnings Report

    Behind OptumHealth’s and OptumInsight’s Strong Revenue Growth in 1Q16

    UnitedHealth Group’s healthcare delivery business, OptumHealth, managed to earn $4 billion revenues in 1Q16, which represents a YoY growth of about 22%.

    By Margaret Patrick
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    Earnings Report

    What You’ll Want to Know about Anthem’s Guidance for 2016

    In its 1Q16 conference call, Anthem updated its 2016 revenue guidance to $81 billion–$82 billion—higher than the previous projection by about $1 billion.

    By Margaret Patrick
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    Miscellaneous

    Abbott Buys St. Jude Medical for $85 per Share in Cash and Stock

    On April 28, Abbott Labs and St. Jude Medical announced an agreement where Abbott will buy St. Jude for $30 billion in cash, stock, and assumed debt.

    By Brent Nyitray, CFA, MBA
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    Miscellaneous

    Can the Samsonite-Tumi Merger Get Antitrust Approval?

    Samsonite will need to file for merger approval under the Hart-Scott-Rodino Antitrust Improvements Act. The companies will need to file for Canadian antitrust approval.

    By Brent Nyitray, CFA, MBA
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    Miscellaneous

    What’s the Rationale for the Samsonite-Tumi Transaction?

    Hong Kong-based Samsonite is buying luxury brand Tumi (TUMI) in a $1.8 billion deal. Samsonite is mainly known as a utilitarian luggage company.

    By Brent Nyitray, CFA, MBA
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    Earnings Report

    What Subsidy Eligible Membership Could Mean for Centene’s Public Exchange Revenues

    Centene managed to increase its public exchange membership from 75,000 members in 2015 to 146,000 members in 2015.

    By Margaret Patrick
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    Earnings Report

    Humana Acquisition Could Be Aetna’s Key Long-Term Growth Driver

    Aetna’s Humana acquisition is mainly aimed at increasing the combined companies’ exposure to the high-growth Medicare business. The deal is currently being scrutinized by antitrust regulators.

    By Margaret Patrick
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    Miscellaneous

    The Baxalta–Shire merger: Basics of Shire Pharmaceuticals

    Shire is a biopharmaceutical company that focuses on rare diseases. Shire is best known for its treatments in ADHD, and the market here is quite large.

    By Brent Nyitray, CFA, MBA
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    Miscellaneous

    Growth and Synergies Drive the Baxalta–Shire Merger

    The Baxalta–Shire merger could create the top platform for rare diseases in the world. Baxalta brings Advate, a treatment for hemophilia, a rare blood disease.

    By Brent Nyitray, CFA, MBA
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    Miscellaneous

    Parsing the Merger Material Adverse Effect Clause, Part 3

    The MAE (material adverse effect) clause is one of the first things arbitrageurs look at in a merger agreement. Let’s examine the Allergan–Pfizer merger’s MAE.

    By Brent Nyitray, CFA, MBA
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    Miscellaneous

    Parsing the Allergan–Pfizer Merger Material Adverse Effect Clause

    In the case of the Allergan–Pfizer merger, the MAE clause lays out the circumstances where Pfizer (PFE) can back out of its merger with Allergan (AGN).

    By Brent Nyitray, CFA, MBA
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    Company & Industry Overviews

    IHF’s Large-Cap Stocks Gave Positive Returns

    The large-cap stocks of the iShares US Healthcare Providers ETF (IHF) rose marginally with a return of 0.35%. They outperformed IHF and SPY.

    By Peter Neil
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    Miscellaneous

    What Is the Risk-to-Reward Ratio of the Allergan-Pfizer Merger?

    If the Allergan-Pfizer merger closes, the spread goes to zero, and you make about $52. If the deal breaks, you lose about $70.

    By Brent Nyitray, CFA, MBA
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    Miscellaneous

    Allergan–Pfizer Merger: What Does Allergan Make Other than Botox?

    This is a second series related to the Allergan-Pfizer merger. We’ll discuss the background of the two companies and look at the Material Adverse Effect Clause.

    By Brent Nyitray, CFA, MBA
  • uploads///AGN PFE transaction overview
    Miscellaneous

    Rationale for the Allergan-Pfizer Merger

    The Allergan-Pfizer merger will generate estimated peak synergies of $2 billion per year, which will take about three years to realize.

    By Brent Nyitray, CFA, MBA
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    Miscellaneous

    Will Arbitrageurs Set up the Plum Creek Timber-Weyerhaeuser Deal?

    Given the antitrust risk in the Plum Creek Timber-Weyerhaeuser merger, it probably should trade at a risk-to-reward ratio of about 5:1, which works out to a spread of $1.66 and an annualized spread of 9%.

    By Brent Nyitray, CFA, MBA
  • uploads///PCL WY downside
    Miscellaneous

    Risk-to-Reward Ratio of the Plum Creek Timber-Weyerhaeuser Merger

    The spread in the Plum Creek Timber-Weyerhaeuser merger is trading slightly negatively (about 6 cents), but the positive dividend carry gives the deal a positive spread.

    By Brent Nyitray, CFA, MBA
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    Macroeconomic Analysis

    SPY Heavy as UnitedHealth Group Forewarned Profit

    The Health Care Select Sector SPDR ETF tumbled -1.7% on November 19 after UnitedHealth Group lowered its profit expectations for 2015 and cut its earnings forecast.

    By Renee Blakely
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    Miscellaneous

    Parsing the Rite Aid-Walgreens MAE Clause: Part 3

    The MAE (material adverse effect) clause lays out the circumstances under which Walgreens Boots Alliance (WBA) can back out of its merger with Rite Aid (RAD).

    By Brent Nyitray, CFA, MBA
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    Miscellaneous

    Rationale for the Plum Creek Timber-Weyerhaeuser Merger

    In the Plum Creek Timber-Weyerhaeuser merger, Weyerhaeuser (WY) and Plum Creek Timber (PCL) anticipate annual cost synergies of $100 million.

    By Brent Nyitray, CFA, MBA
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    Miscellaneous

    Basics of the Plum Creek Timber-Weyerhaeuser Merger

    The equity value of the Plum Creek Timber-Weyerhaeuser merger is about $8.4 billion and $11.4 billion if you include debt.

    By Brent Nyitray, CFA, MBA
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    Miscellaneous

    The Plum Creek Timber-Weyerhaeuser Merger

    In the Plum Creek Timber-Weyerhaeuser merger, Weyerhaeuser Company (WY) has agreed to buy Plum Creek Timber Company (PCL) for $8.4 billion in stock.

    By Brent Nyitray, CFA, MBA
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    Miscellaneous

    Rationale for the Rite Aid–Walgreens Merger

    The Rite Aid–Walgreens merger is expected to be accretive to Walgreens Boots Alliance’s adjusted earnings per share in the first year after completion.

    By Brent Nyitray, CFA, MBA
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    Earnings Report

    Why UnitedHealth Group’s Net Profit Margins Fell

    In 3Q15, despite a rise of total revenues by 27% year-over-year, which includes 10% organic growth, UnitedHealth Group reported a decline of about 1% in net profit margins.

    By Margaret Patrick
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    Miscellaneous

    Parsing the Cigna-Anthem Material Adverse Effect Clause: Part 1

    The MAE clause is one of the first things arbitrageurs look at in a merger deal. In the Cigna-Anthem deal, the MAE clause states when either company can back out of the deal.

    By Brent Nyitray, CFA, MBA
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    Miscellaneous

    Is UnitedHealth Group a Better Partner for Cigna?

    Based on market capitalization, UnitedHealth Group appears to be a stronger partner for Cigna.

    By Margaret Patrick
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    Miscellaneous

    Centene–Health Net Entity Could Be Medicaid Leader

    Centene aims to position itself as a leader in the fast-growing Medicaid market. Health Net’s acquisition will add ~1.7 million Medicaid members to the company’s portfolio.

    By Margaret Patrick
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    Miscellaneous

    The Cigna-Anthem Situation: Different Than a Typical Deal

    The key to the merger between Cigna (CI) and Anthem (ANTM) is understanding the process companies go through when approached with an unsolicited proposal.

    By Brent Nyitray, CFA, MBA
  • uploads///CI ANTM spread
    Miscellaneous

    What’s the Expected Return on the Anthem-Cigna Deal?

    Anthem refers to the deal premium based on Cigna’s stock price on May 28. That date is as good as any to fix the Anthem stock ratio. On May 28, Anthem closed at $164.22.

    By Brent Nyitray, CFA, MBA
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    Earnings Report

    Humana’s Commercial Enrollments Face Pressure in 1Q15

    Humana’s (HUM) revenues from commercial enrollments increased by 28.4%, from $2.2 billion in 1Q14 to $2.8 billion in 1Q15.

    By Margaret Patrick
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    Macroeconomic Analysis

    What Stage of the Business Cycle Are We In Now?

    Looking at the US economy for the last three years might help us understand which phase of the business cycle the US economy is in right now.

    By Surbhi Jain
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    Company & Industry Overviews

    What Are Centene’s Key Risks?

    Centene (CNC) faces a unique combination of business risks as well as risks specific to the health industry (IYH). Centene has a highly concentrated business mix.

    By Margaret Patrick
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    Company & Industry Overviews

    Anthem: Mergers and Acquisitions Target Medicaid, Medicare

    Anthem’s mergers and acquisitions strategy mainly targets the company’s government-sponsored business.

    By Margaret Patrick
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    Company & Industry Overviews

    Medical Care Ratio – Centene Compared to Its Peers

    For health insurance companies, the medical care ratio is the ratio of total money spent on healthcare claims to premiums earned—adjusted for tax and regulatory expenses.

    By Margaret Patrick
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    Company & Industry Overviews

    Anthem’s Medical Care Ratio Improves, Boosts Profit Margin

    Anthem’s medical care ratio declined from 87.8% in 2013 to 83.1% in 2014, as a result of its favorable enrollment mix.

    By Margaret Patrick
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    Company & Industry Overviews

    Anthem’s Key Business Segments

    In 2014, of Anthem’s three business segments, Commercial and Specialty accounted for 53.7% of total revenues, and Government Business contributed 46.3%.

    By Margaret Patrick
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    Company & Industry Overviews

    Cigna’s Commercial Business Mostly Self-Insured

    In the commercial business, self-insured coverage means the employer is responsible for the probable claim obligations of the employees.

    By Margaret Patrick
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    Company & Industry Overviews

    What key risks does UnitedHealth Group face?

    UnitedHealth Group (UNH) is a health insurance provider. It faces a unique combination of business risks, including business mix and competition risks.

    By Margaret Patrick
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    Earnings Report

    Why Aetna’s Medical Care Ratio Declined in 4Q14

    The medical care ratio measures a health insurance company’s financial health. Aetna’s (AET) medical care ratio declined from 83.9% in 4Q13 to 83% in 4Q14.

    By Margaret Patrick
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    Company & Industry Overviews

    UnitedHealth’s operating expenses compared to its peers

    In the private health insurance industry, the operating expenses mainly involve the costs for providing hospital benefits and emergency services.

    By Margaret Patrick
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    Company & Industry Overviews

    How Does Aetna Make Payments to Its Provider Network?

    Managed care organizations (XLV) enter into a contract with a set of health care providers, or a provider network, to provide care for members at reduced costs.

    By Margaret Patrick
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    Company & Industry Overviews

    How Does Aetna Manage Its Commercial Business?

    Aetna (AET) derives 58% of its operating revenues from its commercial business, which involves offerings such as fully insured health plans and self-insured health plans.

    By Margaret Patrick
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    Company & Industry Overviews

    A Key Overview of Aetna, One of the Largest Insurance Providers

    With a market capitalization of $35.1 billion, Aetna (AET) is one of the largest insurance providers in the US.

    By Margaret Patrick
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    Earnings Report

    UnitedHealth’s diversification strategy improved its performance

    Health insurance companies (XLV) use diversification strategies across markets, products, and services to maintain their operating margins.

    By Margaret Patrick
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    Company & Industry Overviews

    UnitedHealth Group’s OptumInsight – improving medical care

    In 2014, OptumInsight released a population health analytics tool—OptumOne. It enables hospitals to improve the quality of care.

    By Margaret Patrick
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    Company & Industry Overviews

    UnitedHealth Group provides services to Medicare beneficiaries

    Medicare Part D is a federal government program. It subsidizes prescription drug expenses for Medicare beneficiaries.

    By Margaret Patrick
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    Company & Industry Overviews

    What are UnitedHealth Group’s consumer engagement products?

    The private health insurance industry offers a diverse range of products. The products combine health plans with financial accounts to cater to different consumers’ needs.

    By Margaret Patrick
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    Company & Industry Overviews

    UnitedHealth Group’s employer-sponsored and individual insurance

    Employer-sponsored coverage, a major form of insurance, increasingly adopted self-insured plans. They’re more cost-effective and flexible than fully-insured plans.

    By Margaret Patrick
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    Company & Industry Overviews

    Humana’s integrated care delivery strategy

    Humana’s core strategy is an integrated care delivery model. Its Healthcare Services segment provides the required ancillary services.

    By Margaret Patrick
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    Company & Industry Overviews

    Humana’s Retail Insurance business segment is biggest earner

    Humana’s retail insurance business segment contributes 66.5% of overall company revenues. Employer-sponsored programs follow with 27.6%.

    By Margaret Patrick
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    Company & Industry Overviews

    Humana: Unraveling the history of a health insurance giant

    Humana (HUM) is the third-largest health insurance provider in the US, with over 13 million customers. Humana is also 73rd in Fortune 500 rankings.

    By Margaret Patrick
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    Company & Industry Overviews

    Understanding health insurance companies’ major operating expenses

    The operating expenses of the private health insurance industry depend on the design of health plans and on the life history, age, and health of enrollees.

    By Margaret Patrick
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