Triple-S Management Corporation Reports Third Quarter 2008 Results; Board Approves Share Repurchase Authorization of up to $... (2008 to 88.6 percent. The Medicare busin...)

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Triple-S Management Corporation Reports Third Quarter 2008 Results; Board Approves Share Repurchase Authorization of up to $40 Million

Date:10/30/2008

2008, to 88.6 percent. The Medicare business experienced an overall year-over-year increase in utilization trends and had a higher concentration of dual-eligible members. Partially offsetting the rise in the Medicare MLR was a decline in the Reform MLR. The Commercial MLR increased by 230 basis points. However, if we consider the effect of reserve developments in both periods, the MLR actually decreased by 180 basis points.

Operating expenses rose $4.9 million, or 13.9 percent, to $40.2 million, compared with the same period last year. The increase is primarily attributable to the higher volume, particularly within the Medicare business. The segment's operating expense ratio decreased 30 basis points, to 10.2 percent.

Managed Care Three months ended Nine months ended

September 30, September 30,

Additional Data 2008 2007 2008 2007

Member months

enrollment

Commercial:

Fully-insured 1,234,011 1,242,254 3,698,285 3,743,350

Self-funded 527,145 483,459 1,522,524 1,447,287

Total

Commercial 1,761,156 1,725,713 5,220,809 5,190,637

Reform 1,024,093 1,066,016 3,089,384 3,199,546

Medicare 221,412 142,831 627,769 407,675

Total member

months 3,006,661 2,934,560 8,937,962 8,797,858

Medical loss ratio 88.6% 86.9% 89.4% 87.7%

Operating expense

ratio 10.2% 10.5% 10.3% 11.0%

Managed Care As of September 30,

Membership by Segment 2008 2007

Members

Commercial:

Fully-insured 411,524 415,055

Self-funded
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