Table of Contents
Table of Contents .....................................................................3
Health Insurance Trends..........................................................5
Industry Analyses...................................................................23
Publicly Traded Company Statutory Overviews.................43
Aetna Inc. .........................................................................................................44
Amerigroup Corp. ...........................................................................................74
Centene Corp. ...................................................................................................86
CIGNA Corp. ...................................................................................................98
Coventry Health Care, Inc. .........................................................................124
Health Net Inc. ...............................................................................................142
HealthSpring Inc. ...........................................................................................160
Humana Inc. ....................................................................................................168
Molina Healthcare Inc. ................................................................................198
Triple-S Management Corp. .......................................................................206
UnitedHealth Group Inc. .............................................................................216
WellCare Health Plans Inc. ........................................................................246
WellPoint Inc. .................................................................................................260
Not-for-Profit/Mutual Company Statutory Overviews........289
BlueCross BlueShield of Florida ..............................................................290
BlueCross BlueShield of Michigan ..........................................................300
BlueCross BlueShield of North Carolina ...............................................312
BlueShield of California ..............................................................................320
CareFirst ...........................................................................................................328
Emblem ............................................................................................................336
Health Care Services Corp. ........................................................................350
Highmark .........................................................................................................362
Horizon .............................................................................................................380
Independence BlueCross .............................................................................390
Kaiser Permanente ........................................................................................404
Regence Group ...............................................................................................416
Appendix I: Endnotes...........................................................429
Appendix II: SAP and GAAP(1) .............................................437