Aetna's Earnings Up 42 Percent

July 29, 2010 by legitgov

Aetna's Earnings Up 42 Percent 27 Jul 2010 Aetna reported earnings up 42 percent for the second quarter compared with last year, despite a 2 percent drop in revenue partly related to businesses having fewer workers and therefore spending less on health insurance. The Hartford-based health insurer reported net income of $491 million for the second quarter, or $1.14 per diluted share, compared with $362.8 million, or 77 cents per diluted share, for the same quarter last year. The company benefitted from lower medical-benefit ratios, also called medical-loss ratio, which is a percentage of every dollar collected in premiums that is spent on medical costs.