A quarterly review of Company and industry news for Medical Mutual member-policyholders.
About Us » Publications & Announcements
The Advocate
Second quarter 2007
Commentary: Our Financial Results and What They Mean To You, Our Policyholders
By Terrance J. Sheehan, MD
President & CEO
As you will read elsewhere
in this issue of
the Advocate, Medical
Mutual posted yet
another terrific six
months of operating
results for the period
ending June 30, 2007. Nearly every financial
measure moved in the right direction,
some significantly so.
Without a doubt, it is great news.
And it’s easy, even natural, for those of us
who work here inside the walls of your
insurance company to get excited about
the unprecedented financial strength we
now enjoy. I am also acutely aware that
you want to know what this financial
success means to you.
Well, the results of our success have already started:
- Premium rates in New Hampshire will remain unchanged for the coming year.
- In Maine, we announce, again here in this issue, that rates will stay flat for the second consecutive year.
- Vermont, where rates have recently moderated, though not to the same extent as in Maine or New Hampshire, is still under review for the coming year with an announcement expected sometime this quarter.
- In addition, policyholders in all three states are benefiting from dividends totaling nearly $4 million that are being paid this year in the form of premium credits.
- And, if the second half of 2007 mirrors the first half, I can assure you we will return to you premiums in excess of paying for claims and the cost of doing business in the form of reduced premiums and/or dividends.
We know how critical it is to keep premiums
as low as possible to ensure that our
communities have access to the best of
health care services. Northern New
England is a great place to live and practice
medicine and it is our job to provide
you with a company that partners with
you and shares its success.