Trigon Reports Lower Second Quarter Net Income

By Staff Writer

August 14, 2001 at 08:00 PM

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NU Online News Service, Aug. 14, 12:15 p.m. – Trigon Healthcare Inc., Richmond, Va., is reporting $26 million in net income for the second quarter on $723 million in revenue, compared with $29 million in net income on $645 million in revenue for the second quarter of 2000.

The managed care company says operating income, which excludes $16.5 million in losses on investments sold during the quarter, increased 44%, to $33 million.

Total enrollment increased 6%, to 2.1 million, and insured major medical enrollment increased 5%, to $1.1 billion.

The company generated an average of $13 in net income and $348 in revenue per member, compared with $15 in net income and $328 in revenue per member for the second quarter of 2000.

The company generated $24 in net income and $657 in revenue per insured major medical member, compared with $27 in net income and $616 in revenue for the comparable quarter in 2000.

Growth in commercial preferred provider organization enrollment was particularly strong, and medical cost increases throughout major medical lines were in line with the premium rate increases, Trigon says.

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