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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash flows from operating activities:    
Net income $ 65,110 $ 114,771
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 23,190 18,422
Loss on disposal or abandonment of property, equipment and software 79 320
Deferred tax benefit (1,566) (144)
Compensation expense related to share-based payments 13,685 10,757
Non-cash interest expense 3,164 5,682
Amortization of investment premiums and other 5,825 7,263
Changes in assets and liabilities (decreasing) increasing cash flows from operations:    
Premium receivables (205,673) (31,616)
Prepaid expenses, provider and other receivables and other current assets (4,354) (28,722)
Other long-term assets (1,737) (2,106)
Claims payable 113,050 8,833
Accounts payable, accrued expenses, contractual refunds payable and other current liabilities 1,625 10,653
Unearned revenue 92,263 1,146
Other long-term liabilities (1,545) (606)
Net cash provided by operating activities 103,116 114,653
Cash flows from investing activities:    
Proceeds from sale or call of available-for-sale securities 755,858 464,366
Purchase of available-for-sale securities (459,620) (721,853)
Proceeds from redemption of investments on deposit for licensure 30,614 68,374
Purchase of investments on deposit for licensure (85,072) (78,606)
Purchase of property, equipment and software (28,862) (20,170)
Purchase of contract rights and related assets (85,168) 0
Net cash provided by (used in) investing activities 127,750 (287,889)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 77,813 0
Issuance costs of long-term debt (1,061) 0
Repayment of convertible notes principal (259,880) 0
Net increase in bank overdrafts 12,553 16,262
Customer funds administered (46) 3,078
Proceeds from exercise of stock options and employee stock purchases 12,492 40,020
Repurchase of common stock shares 0 (79,997)
Tax benefit related to share-based payments 4,782 12,698
Net cash used in financing activities (153,347) (7,939)
Net increase (decrease) in cash and cash equivalents 77,519 (181,175)
Cash and cash equivalents at beginning of period 546,811 763,946
Cash and cash equivalents at end of period 624,330 582,771
Supplemental disclosures of non-cash information:    
Employee stock relinquished for payment of taxes (4,337) (3,621)
Unrealized gain on available-for-sale securities, net of tax 2,004 5,355
Common stock issued upon conversion of the 2.0% Convertible Senior Notes 129,431 0
Common stock received through hedge instruments upon conversion of the 2.0% Convertible Senior Notes $ (129,431) $ 0