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Date Posted: 12:17:55 08/03/09 Mon
Author: Paul Davis
Subject: Health company profits

Now, just how do you lose customers and increase profits? You SQUEEZE them!

INDIANAPOLIS - UnitedHealth Group Inc. reported a second-quarter profit that more than doubled to beat Wall Street expectations, but the health insurer continued to lose commercial enrollment due to the tough economy.

Minnetonka, Minn.-based UnitedHealth also said Tuesday it raised the low end of its full-year earnings forecast.

UnitedHealth earned $859 million, or 73 cents per share, for the quarter that ended June 30. That's up from $337 million, or 27 cents per share, a year earlier.

INDIANAPOLIS

Health insurer Cigna Corp. said Thursday its second-quarter profit jumped 60 percent on a more favorable interest rate and other items but, like other major health insurers, enrollment tumbled as employers cut jobs.

The Philadelphia company said it earned $435 million, or $1.58 per share, up from $272 million, or 96 cents per share. Revenue fell 8 percent to $4.49 billion from $4.86 billion. Adjusted profit from operations grew 3 percent to $313 million, or $1.14 per share.

Analysts expected a profit of 96 cents per share on $4.8 billion in revenue, according to Thomson Reuters. Cigna includes results from one of its discontinued businesses in its adjusted profit, but many analysts do not in their projections.

http://www.businessweek.com/ap/financialnews/D99ORFRG0.htm

And by the way, note that some health co execs have in excess of a BILLION in options, ready to take whenever they are ready to pick the plum!

http://www.vaildaily.com/article/20090802/LETTER/908019998/1022

When you are spending literally a trillion a year to compensate the boards and executives and "care professionals" whose only task is to come between the insured and their doctor, there isn't a "WORSE" solution! The WORST is to keep on at the same old stand.

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