Health insurer Aetna has seen its net profit grow 18 percent, as its enrollment also jumped. As WNPR’s Harriet Jones reports, the company’s CEO has spoken out about current healthcare reform proposals.
Aetna CEO Ron Williams described the company as being in the forefront of the effort to reform healthcare coverage, and working closely with the Obama administration on a workable solution. But he expressed his disappointment with some of the reforms in bills crafted by lawmakers.
Hartford based Aetna said in the third quarter it earned 326 million dollars or 73 cents a share, up from 58 cents a share in the same quarter last year. Revenue was up 9 percent. Stripping out capital gains and other one time items, Aetna’s operating earnings actually fell more than 40 percent, but those numbers still managed to beat Wall Street’s expectations.
The health insurer said its total medical enrollment grew almost eight percent in the quarter. Its commercial enrollment, which includes employer sponsored plans was up almost seven percent. That’s a surprise in an economic climate in which many people are still losing their jobs and their benefits. Aetna did see a significant rise in medical costs, which was not totally offset by a boost in premiums.