Sale of Medicare PDP Business

3 Months Ended

Mar. 31, 2013

Sale of Businesses [Abstract]

Sale of Medicare PDP Business

SALE OF MEDICARE PDP BUSINESS

On April 1, 2012, our subsidiary HNL sold substantially all of the assets, properties and rights of HNL used primarily or exclusively in our Medicare PDP business to CVS Caremark for a total purchase price of $248.2 million.

Our revenues related to our Medicare PDP business were $191.8 million for the three months ended March 31, 2012. These revenues were excluded from our continuing operating results and included in loss from discontinued operation. Our Medicare PDP business had a pretax loss of $(28.8) million for the three months ended March 31, 2012. As of March 31, 2012, we had approximately 424,000 Medicare stand-alone prescription drug plan members. We had no revenues and no pretax income related to the Medicare PDP business for the three months ended March 31, 2013. As of March 31, 2013, we had no Medicare stand-alone Prescription Drug Plan members.