Exhibit 1. Mean Financial Performance Ratios of Medicaid Health Plans By Plan Traits.

Plan Traits (sample size)	Sample Size by Plan Trait	Medical Loss Ratio		Administrative Cost Ratio		Operating Margin Ratio
Medicaid Dominant Status
Medicaid Dominant	94	87.7	*	11.6		1.3	*
		(6.6)		(3.2)		(4.2)
Multi-Product	76	90.6		10.8		-1.0
		(5.7)		(4.6)		(5.0)
Publicly Traded Status
Publicly Traded	75	87.4	*	12.7	**	0.2
		(5.8)		(3.3)		(4.8)
Non-Publicly Traded	95	90.1		10.1		.6
		(6.5)		(4.6)		(4.5)
Provider-Sponsored Status
Provider-Sponsored	43	90.6	*	8.9	**	1.0
		(7.5)		(2.7)		(4.8)
Non-Provider-Sponsored	127	88.4		11.9		0.2
		(5.8)		(3.9)		(4.6)
Medicaid Dominant & Provider Sponsored
Provider-Sponsored	20	88.5		9.5	*	2.2
		(5.3)		(2.5)		(4.7)
Non-Provider-Sponsored	74	87.1		12.1		1.0
		(5.7)		(3.2)		(4.1)
Publicly Traded	50	86.2	**	13.3	*	0.6	**
		(5.5)		(2.5)		(4.5)
Non-Publicly Traded	44	88.6		9.6		2.1
		(5.4)		(2.8)		(3.7)
Multi-Product & Provider Sponsored
Provider Sponsored	22	91.6		8.4	*	0
		(5.9)		(2.9)		(4.8)
Non-Provider-Sponsored	54	90.1		11.8		-1.0
		(5.6)		(4.8)		(5.1)
Multi-Product & Publicly Traded
Publicly Traded	25	89.6		11.5		-1.1
		(5.7)		(4.3)		(5.4)
Non-Publicly Traded	51	91.0		10.5		-1.1
		(5.7)		(4.8)		(4.8)

SOURCE: NAIC data 2009 and Arizona and California state data 2009 (Standard Deviation in parentheses)

^**significant at .01 level

^*significant at .05 level