This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Universal American Corp. Reports 2012 Fourth Quarter And Full Year Results

Management Comments

Richard A. Barasch, Chairman and CEO commented, “Our Medicare Advantage business performed well in 2012. Our risk management results were excellent; we made progress on reducing expenses; we had a successful Annual Election Period; and we improved our Star ratings, particularly in our core markets.

“Building on our successful Healthy Collaboration® model, we are partnering with 31 physician groups, including the Southeast Texas physicians who have been the backbone of our success in Medicare Advantage, to participate as ACOs in the Medicare Shared Savings Program. These ACO partnerships demonstrate our ongoing commitment to working in collaboration with physicians and the government to improve the quality of care and manage healthcare costs for the benefit of the Medicare program and its beneficiaries.

“As we look ahead to 2013, given our strong balance sheet, even after the payment of the $1.00 special dividend in 2012, our expanded capabilities in medical management for high-risk populations and our track record of working collaboratively with healthcare professionals to improve quality and reduce costs, we believe that we are well positioned to participate in the emerging opportunities in healthcare.”

Medicare Advantage
        Three Months Ended       Year Ended
December 31, December 31,
Financial Performance ($ in millions) 2012       2011 2012       2011
Revenue $ 413.6 $ 458.7 $ 1,642.7 $ 1,988.4
Operating Income $ 18.9 $ 19.8 $ 92.8 $ 72.7

For the full year 2012, our reported Medicare Advantage medical benefit ratio (“MBR”) was 80.6%, which included positive prior year items of $27.4 million, pre-tax. Excluding these prior year items, the MBR was 81.9% for 2012. Our reported Medicare Advantage MBR for the fourth quarter of 2012 was 78.1%, which included positive prior period items of $5.9 million, pre-tax. Excluding these prior period items, the MBR was 79.4% for the fourth quarter of 2012. The administrative expense ratio for the full year 2012 was 15.1% compared to 15.4% in 2011.

2 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.03 -2.90%
FB $116.73 7.20%
GOOG $691.02 -2.10%
TSLA $247.54 -1.60%
YHOO $36.59 -0.97%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs