Maxicare Health Plans Inc., a Los Angeles-based...
From Times Wire Services
Maxicare Health Plans Inc., a Los Angeles-based health maintenance organization, said its first-quarter earnings fell 23% primarily because of lower enrollment at its Indiana HMO.
Maxicare said net income for the quarter ended March 31 fell to $2.3 million, or 9 cents a share, from $3 million, or 16 cents a share, a year earlier. Revenue was down 2% to $106.9 million.
Maxicare said total membership fell 1.7% from the year-ago quarter. It attributed the decrease to an “expected decline” in enrollment in Indiana. It said the enrollment decline in Indiana was partly offset by membership gains in Illinois and Louisiana.
