May 19, 2008
Dental Insurer Reports Earnings Increase
By Matthew L. Brown
Providence, R.I.-based Altus Dental Insurance Co. Inc. reported net income of $377,000 for 2007 on subscriber premiums of $16.6 million.
In 2006, Altus reported net income of $108,000.
Altus is a dental benefits provider and covers nearly 150,000 current and former state and municipal employees and their families. The company's 2007 subscriber premiums were an increase compared to the $15.3 million it reported for 2006. The company said the number of Massachusetts towns covered by Altus increased by almost 40 percent in 2007. Massachusetts towns now make up about 18 percent of the company's total membership.
Along with the earnings growth, Altus reported very small increases in operating expenses and a decrease in unpaid claims.
In 2006, Altus reported net income of $108,000.
Altus is a dental benefits provider and covers nearly 150,000 current and former state and municipal employees and their families. The company's 2007 subscriber premiums were an increase compared to the $15.3 million it reported for 2006. The company said the number of Massachusetts towns covered by Altus increased by almost 40 percent in 2007. Massachusetts towns now make up about 18 percent of the company's total membership.
Along with the earnings growth, Altus reported very small increases in operating expenses and a decrease in unpaid claims.
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