The health insurance industry's five largest payers reported solid earnings for the three months ended June 30 in fiscal year 2017.
1. Hartford, Conn.-based Aetna reported net income of $1.2 billion in the second quarter of this year, compared to $791 million in the same period last year. Although Aetna's profits rose, the payer saw second quarter revenues decrease year-over-year to $15.5 billion from $16 billion last year. Aetna reported operating expenses of $2.6 billion in the second quarter, down from $2.9 billion in the same period last year.
2. Anthem recorded net income of $855.3 million in the second quarter of 2017, up from $780.6 million in the same period last year. The Indianapolis-based payer saw its revenues increase to $22.2 billion in the second quarter from $21.3 billion in the same quarter a year prior. At the same time, Anthem saw expenses rise year-over-year to $21.2 billion, up from $20 billion.
3. Bloomfield, Conn.-based Cigna reported net income of $813 million in the second quarter this year, up from $510 million in the same period last year. The payer saw second quarter revenues of $10.3 billion this year compared to $10 billion in the same period of 2016. Second-quarter expenses totaled $9.2 billion for Cigna, up slightly from $9.15 billion recorded in the same period last year.
4. Humana's net income totaled $650 million in the second quarter of this year, compared to $311 million in the same period of 2016. The Louisville, Ky.-based insurer's second-quarter revenue declined to $13.5 billion, down from $14 billion in the same period a year prior. However, Humana's operating expenses also fell in the second quarter to $12.4 billion, a decrease from $13.3 billion in the same period last year.
5. Minnetonka, Minn.-based UnitedHealth Group recorded $2.3 billion in net earnings in the second quarter of this year, compared to $1.8 billion in the same period a year prior. UnitedHealth saw revenue of $50.1 billion in the second quarter, up 7.7 percent year-over-year. The payer's operating costs also increased from $43.3 billion in the second quarter of 2016 to $46.3 billion in the same period this year.