Revenue is up slightly, but claims are down at the health insurer Aetna, meaning that the company posted a sharply higher quarterly profit.
Because of the low use of health services by members, in connection with the weak economy, “Aetna spent 80.7 percent of its premium revenue on medical claims in the quarter, well below the 83 percent it spent a year earlier,” according to a Fox Business News story.
Aetna’s fourth-quarter net income rose to $372.6 million, or $1.02 per share, from $215.6 million, or 53 cents per share, a year earlier.
The question of spending in connection with the sagging economy has been much in the news lately.
