Aetna Releases 2Q 2014 Results
Proquest LLC |
In its release on
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"Our results speak to the strength of our diversified portfolio of businesses and our ability to succeed across many fronts. We also continue to experience moderate medical cost trends, and now project
"We also continued to make headway in accelerating Coventry synergies into this year, and for the second time are increasing our 2014 operating earnings per share accretion projection," said
"We are pleased with our second-quarter operating results, which were supported by strong operating revenue growth and cash flow, as well as solid operating margins. With this solid performance, we are increasing both our year-end medical membership projection to approximately 23.4 million members from the previous projection of more than 23 million and our full-year 2014 operating revenue projection to at least
Health Care business results
Health Care, which provides a full range of insured and self- insured medical, pharmacy, dental and behavioral health products and services, reported:
-Operating earnings of
-Net income was
-Operating revenues of
-Sequentially, second-quarter 2014 medical membership increased by 385,000 due to growth in our Commercial Insured and Government products as well as the inclusion of membership from our acquisition of the InterGlobal group.
Our second-quarter 2014 Commercial MBR increased primarily as a result of the year-over-year decrease in favorable development of prior-period health care cost estimates in 2014, costs associated with new hepatitis C treatments, and our 2014 public exchange membership, partially offset by higher premiums driven in part by pricing actions designed to recover Health Care Reform mandated fees and taxes. Our second-quarter 2014 Government MBR improved primarily from actions impacting revenue and medical costs designed to solve for the gap between
-In the second quarter of 2014, we experienced favorable development of prior-period health care cost estimates in both our Commercial and Government businesses, primarily attributable to 2014 performance.
-Prior-years' health care costs payable estimates developed favorably by
-Operating earnings of
-Net income of
-Operating revenues of
Large Case Pensions business results
Large Case Pensions, which manages a variety of discontinued and other retirement and savings products, primarily for qualified pension plans, reported:
-Operating earnings of
-Net income of
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