Business Acquisition (Tables)

6 Months Ended

Jun. 30, 2012

Business Combinations [Abstract]

Schedule of acquisition-date purchase price allocation

The following table summarizes the allocation of the total purchase price to the fair values of the assets acquired and liabilities assumed on May 1, 2012:

	May 1, 2012
Prepaid expenses and other current assets	$	1,111
Property, equipment and software	3,849
Intangible assets	24,900
Other long-term assets	282
Goodwill	56,251
Total assets acquired	86,393
Accrued payroll related liabilities	(1,225		)
Net assets acquired	$	85,168

Schedule of pro forma information related to business acquisition

The unaudited pro forma information presented below includes the effects of the acquisition as if it had been consummated as of the beginning of the prior fiscal year. The pro forma results include adjustments for premium tax, depreciation and amortization associated with acquired tangible and intangible assets, reduced investment income related to cash used to fund the acquisition, adjustments for management fee arrangements, charges related to the Management Services Agreement ("MSA") (discussed below) and related income tax effects. Consistent with the Company's established accounting policies, the results of operations for the three and six months ended June 30, 2012 include increased health benefits expense in order to establish an estimate for claims payable sufficient to cover obligations under an assumption of moderately adverse conditions as a result of the growth in our New York health plan membership. As the Company's acquisition of Health Plus was an asset acquisition which did not include an assumption of any liability for claims payable for dates of service prior to the acquisition, the pro forma results of operations below do not reflect the reversal of estimates held by Health Plus for this factor. The unaudited pro forma information does not give effect to the potential impact of current financial conditions, regulatory matters or any anticipated synergies or other expected benefits of the acquisition and is not necessarily indicative of future results of operations or results that might have been achieved had the acquisition been consummated as of the beginning of the prior fiscal year (dollars in thousands, except share data):

	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Premium revenue	$	2,327,573	$	1,765,710	$	4,412,381	$	3,538,352
Net income	$	31,917	$	44,450	$	64,048	$	113,640
Basic earnings per share	$	0.67	$	0.92	$	1.36	$	2.35
Diluted earnings per share	$	0.63	$	0.83	$	1.25	$	2.16