ANNUAL STATEMENT

OF




OF
Pittsburgh
ÌN THE COMMONWEALTH OF
Pennsylvania
TO THE
Pennsylvania Ìnsurance Department


FOR THE YEAR ENDED
DECEMBER 31, 2006
HEALTH
2006
3[H$NMJ$$#NN$$$H$$3
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
Statement of ActuariaI Opinion
Keystone HeaIth PIan West, Inc.
Ì, Robert A. Macagnano, am a Director with the firm of PricewaterhouseCoopers LLP. Ì am a Fellow of the Society of
Actuaries and also a Member of the American Academy of Actuaries. Ì have been retained by Keystone Health Plan
West, Ìnc. (the Corporation) to render this opinion. Ì meet the American Academy of Actuaries Qualification Standards
for Statements of Actuarial Opinion for Health Ìnsurance Organizations and am familiar with the valuation requirements
applicable to life and health insurance companies.
Ì have examined the actuarial assumptions and actuarial methods used in determining reserves and related actuarial
items listed below, as shown in the Annual Statement of the Corporation, as prepared for filing with the state regulatory
officials as of December 31, 2006. Ì have relied upon listings, summaries, and other supporting data prepared under the
direction of William J. Cashion, Vice President & Chief Actuary, as certified in the attached statement. Ìn other respects,
my examination included such review of the actuarial assumptions and actuarial methods and such tests of the actuarial
calculations as Ì considered necessary.
A. Claims Unpaid (Reported and Unreported): $ 159,633,991
B. Accrued medical incentive pool and bonus payments: $ 3,552,000
C. Unpaid claims adjustment expenses: $ 3,872,603
D. Other policy and contract reserves: $ 5,616,706
E. Experience rated refunds: $ 0
F. Any actuarial liabilities included in "Aggregate write-ins for other liabilities¨ line on the
Liabilities page of the balance sheet: $ 0
Ìn my opinion the reserves and related actuarial items identified above:
Are computed in accordance with presently accepted actuarial standards consistently applied and are fairly stated,
in accordance with sound actuarial principles;
Are based on actuarial assumptions which produce reserves at least as great as those called for in any contract
provision as to reserve basis and method, and are in accordance with all other contract provisions;
Meet the requirements of the valuation law and regulations of the Commonwealth of Pennsylvania;
Are computed on the basis of actuarial assumptions and methods consistent in all material respects with those used
in computing the corresponding items in the Annual Statement of the preceding year-end; and
Ìnclude appropriate provision for all reserves and related actuarial items which ought to be established.
The reserves and related actuarial items, when considered in light of the assets held by the Corporation with respect to
such reserves and related actuarial items including, but not limited to, the investment earnings on such assets, and the
considerations anticipated to be received and retained under such policies and contracts, make adequate provision,
according to presently accepted actuarial standards of practice, for the anticipated cash flows required by the
contractual obligations and related expenses of the Corporation.
The actuarial methods, considerations and analyses used in forming my opinion conform to the appropriate Standards
of Practice as promulgated from time to time by the Actuarial Standards Board, which standards form the basis of this
statement of opinion. Ì certify that the items above have been determined appropriately; however, because future events
frequently do not occur exactly as expected, there are usually differences between expected and actual results.
This opinion is updated annually as required by statute. To the best of my knowledge, there have been no material
changes from the applicable date of the annual statement to the date of the rendering of this opinion which should be
considered in reviewing this opinion.
Respectfully submitted,
PricewaterhouseCoopers LLP
02/23/2007
Robert A. Macagnano, FSA Date
Member, American Academy of Actuaries
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ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
Management's Discussion and AnaIysis
I. OVERVIEW
Nature of Operations
Keystone Health Plan West, Ìnc. (the Corporation) operates as a for-profit health maintenance organization
(HMO) in Western Pennsylvania. The Corporation, as a licensee of the Blue Cross Blue Shield Association
(BCBSA), provides prepaid group and individual hospitalization and medical insurance, as well as individual
hospitalization and medical coverage for Medicare beneficiaries under a Medicare Advantage contract (the
Contract) with the Centers for Medicare & Medicaid Services (CMS). Approximately 84% and 81% of the
Corporation's premium revenue for the years ended December 31, 2006 and 2005, respectively, is derived
from the Contract. Additionally, the Corporation provides coverage to low-income children and adults
through the Children's Health Ìnsurance Program (CHÌP) and the adultBasic program, respectively, subject
to contracts between Highmark Ìnc. (Highmark) and the Commonwealth of Pennsylvania (Pennsylvania).
Highmark is the sole stockholder of the Corporation. Highmark owns 75,000 shares of Class A common
stock and 75,000 shares of Class B common stock. Both Class A and Class B common stock share equal
voting rights.
Ìn August 2006, the Corporation acquired 100% of the equity of Union Benefit Management, Ìnc. (UBM)
and Employee Benefit Data Services Co. (EBDS) for a purchase price of $7.8 million. EBDS provides
billing services for Highmark and certain of its affiliates, and UBM and EBDS provide administration of
employee benefits and billing services for various government agencies and employer groups. Assets
consisted of cash and cash equivalents of $7.2 million, accounts receivable of $2.4 million, goodwill and
other intangible assets of $4.5 million, and property and equipment of $0.7 million, offset by liabilities
acquired of $7.1 million. EBDS and UBM were not audited in 2006 and accordingly were not admitted in the
statutory financial statements, in accordance with Statement of Statutory Accounting Principle (SSAP) No.
88, Ìnvestments in Subsidiary, Controlled and Affiliated Entities.
Basis of FinanciaI Presentation
Ìn 2006 and 2005, the Corporation prepared its statutory financial statements in accordance with the NAÌC
Codification Standards. The Corporation reviewed all of the required statutory accounting principles and
determined that the following SSAPs and Ìnterpretations (ÌNTs) had the most significant impact:
SSAP 4: Assets and Non-Admitted Assets Paragraph 3 superseded by SSAP 87
SSAP 10: Ìncome Taxes
SSAP 26: Bonds, excluding Loan-backed and Structured Securities
SSAP 47: Uninsured Plans
SSAP 84: Certain Health Care Receivables and Receivables under Government Ìnsured Plans
SSAP 88: Ìnvestments in Subsidiary, Controlled and Affiliated Entities
ÌNT 05-05: Accounting for Revenues Under Medicare Part D Coverage
II. RESULTS OF OPERATIONS

Overall, the Corporation's operations focus on Medicare Advantage, group commercial HMO business and
individual hospital and medical coverage. The Corporation benefited from lower claim trends as a result of
lower utilization of health care services by members in both the Medicare Advantage and commercial risk
products.

Net income for the year ended December 31, 2006 was $108.5 million, an increase of $28.7 million or 36%,
compared to $79.8 million for the year ended December 31, 2005. Net income was primarily driven by
increases in underwriting gains and net investment income offset by a corresponding increase in federal
income tax expense.
The underwriting gain for the year ended December 31, 2006 was $127.7 million, an increase of $40.4
million or 46%, compared to the underwriting gain of $87.3 million for the year ended December 31, 2005.
The increase was primarily driven by an increase in premium revenue in the Corporation's Medicare
Advantage product primarily due to increases in government contract reimbursements as a result of
Medicare Part D offerings as well as favorable claim trends in both the Medicare Advantage and
commercial HMO risk products. The Corporation's medical loss ratio was 87.5% for the year ended
December 31, 2006, compared to 89.6% for the year ended December 31, 2005.
Net investment income was $34.1 million for the year ended December 31, 2006, an increase of $11.9
million or 54%, compared to net investment income of $22.1 million for the year ended December 31, 2005.
The increase in net investment income was primarily driven by positive cash flows from operations in 2006,
higher average investment balances and a higher investment portfolio yield.
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ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
Management's Discussion and AnaIysis
III. FINANCIAL POSITION
Admitted Assets
Admitted assets were $722.6 million at December 31, 2006, an increase of $136.1 million or 23%,
compared to admitted assets of $586.5 million at December 31, 2005. The increase was primarily due to
increases in cash and invested assets of $119.6 million, uncollected premiums of $7.7 million and an
increase in the federal income tax recoverable of $6.5 million.
Total cash and invested assets were $632.5 million at December 31, 2006, an increase of $119.6 million or
23%, compared to total cash and invested assets of $512.9 million at December 31, 2005. The increase
was due primarily to positive operating cash flows driven by premium revenue increases in government
contract reimbursements as a result of Medicare Part D offerings during 2006 that provided for additional
funds for investment in long-term debt securities. At December 31, 2006 and 2005, 97.7% and 96.6%,
respectively, of the Corporation's debt securities were classified as NAÌC-1.
Uncollected premiums were $21.6 million at December 31, 2006, an increase of $7.7 million or 56%,
compared to uncollected premiums of $13.9 million at December 31, 2005. The increase was primarily due
to an increase in receivables from CMS related to a reconciliation of premium revenue based on member
health status.
The federal income tax recoverable was $6.5 million at December 31, 2006 compared to $-0- at December
31, 2005. The federal income tax recoverable resulted from estimated tax payments exceeding the actual
federal tax liability in 2006.
LiabiIities
Liabilities were $304.7 million at December 31, 2006, an increase of $41.5 million, or 16%, compared to
liabilities of $263.2 million at December 31, 2005. The increase was primarily driven by an increase in
liabilities for amounts held under uninsured plans of $42.2 million, general expenses due or accrued of
$12.2 million, amounts due to parent, subsidiaries and affiliates of $8.4 million offset by decreases in other
liabilities of $14.5 million and claims unpaid of $8.3 million.
The liability for amounts held under uninsured plans was $53.4 million at December 31, 2006, an increase
of $42.2 million or 377%, compared to the liability for amounts held under uninsured plans of $11.2 million
at December 31, 2005. The increase was primarily due to liabilities associated with Medicare Part D risk
sharing arrangements with CMS.
General expenses due or accrued were $23.7 million at December 31, 2006, an increase of $12.2 million or
106%, compared to general expenses due or accrued of $11.5 million at December 31, 2005. Amounts
due to parent, subsidiaries and affiliates were $14.5 million at December 31, 2006, an increase of $8.4
million or 138%, compared to $6.1 million at December 31, 2005. These increases were driven primarily by
the timing of payments to Highmark for reimbursement of both administrative services incurred and claims
processed on behalf of the Corporation. Highmark performs administrative services and processes claims
on behalf of the Corporation and receives reimbursement from the Corporation on a monthly basis. The
outstanding amounts were paid in January 2007.
Other liabilities were $3.9 million at December 31, 2006, a decrease of $14.5 million or 79%, compared to
other liabilities of $18.4 million at December 31, 2005. The decrease was due primarily to the payment of
$10.0 million for settlement on a class action lawsuit which challenged rates paid to ambulance providers
under the Corporation's Medicare Advantage product.
Claims unpaid were $159.6 million at December 31, 2006, a decrease of $8.3 million or 5%, compared to
claims unpaid of $167.9 million at December 31, 2005. Although there was an increase in claims incurred,
claims unpaid decreased as a result of timing of claims payments.
CapitaI and SurpIus
Total capital and surplus at December 31, 2006 was $418.0 million, an increase of $94.7 million or 29%,
compared to $323.3 million at December 31, 2005. The increase was primarily attributable to net income of
$108.5 million, as previously discussed, partially offset by an increase in nonadmitted assets of $14.8
million primarily driven by pharmacy rebates receivable of $9.4 million and the nonadmitted investment in
EBDS and UBM of $8.4 million. The increase in outstanding pharmacy rebates receivable was due
primarily to the launch of the Medicare Part D program in 2006.
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ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
Management's Discussion and AnaIysis
On March 29, 2007, the Board of Directors of the Corporation declared a cash dividend of $100.0 million
and will be paid from unassigned surplus. Payment will be made to the sole shareholder, Highmark, no
sooner than April 19, 2007. Following payment of the dividend, the Corporation's surplus as regards to
policyholders remains reasonable in relation to outstanding liabilities and adequate to meet financial needs.
IV. LIQUIDITY
The Corporation maintains its cash and investment portfolio in order to meet both short-term and long-term
liquidity needs. Ìn 2006, the investment portfolio remained diversified among cash equivalents and fixed
income securities. The Corporation's short-term liquidity requirements are to meet operational needs.
Net cash provided by operations was $132.4 million for the year ended December 31, 2006. The primary
drivers behind positive cash flows from operations were an increase in premiums collected of $300.3 million
primarily due to increases in government contract reimbursements as a result of Medicare Part D offerings,
an increase in net investment income collected of $10.9 million due to higher invested balances and a
decrease in cash paid for commissions and expenses paid of $12.2 million due to the timing of
reimbursements made to Highmark for administrative services performed for the Corporation. The
increase in cash provided by operations was partially offset by increases in benefit and loss related
payments of $107.1 million, primarily due to the increase in hospital and medical claims expense of $96.6
million and an increase in federal taxes paid of $15.3 million, primarily due to the increased pre-tax net
income of the Corporation.
Net cash used in investments increased $51.4 million primarily due to the timing and volume of fixed
income securities purchased in 2006 compared to 2005.
Management is comfortable with the Corporation's liquidity position at December 31, 2006 and considers its
cash and cash equivalents, short-term investments and scheduled maturities of fixed income securities to
be adequate to provide necessary cash flow throughout 2007. Management considered the impact of the
dividend to Highmark and is comfortable that the Corporation's liquidity position will continue to be solid
after the ordinary dividend of $100.0 million is paid to Highmark.
V. OFF BALANCE SHEET ARRANGEMENTS
The Corporation does not have any off-balance sheet arrangements.
VI. PARTICIPATION IN HIGH YIELD FINANCINGS, HIGHLY LEVERAGED
TRANSACTIONS OR NON-INVESTMENT GRADE LOANS AND INVESTMENTS
The Corporation does not participate directly or indirectly in high yield financings or highly leveraged
transactions as originator, syndicator, or lender. The investment policy and guidelines require that all debt
securities have an investment grade quality rating at the time of purchase, however investment securities
may continue to be held following a credit rating downgrade. At December 31, 2006, there were no below-
investment grade securities or loans owned by the Corporation.
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HEALTH ANNUAL STATEMENT
FOR THE YEAR ENDING DECEMBER 31, 2006
OF THE CONDÌTÌON AND AFFAÌRS OF THE
Keystone HeaIth PIan West, Inc.
NAÌC Group Code 0812 0812 NAÌC Company Code 95048 Employer's ÌD Number 25-1522457
(Current Period) (Prior Period)
Organized under the Laws of Pennsylvania , State of Domicile or Port of Entry Pennsylvania
Country of Domicile United States
Licensed as business type: Life, Accident & Health [ ] Property/Casualty [ ] Dental Service Corporation [ ]
Vision Service Corporation [ ] Other [ ] Health Maintenance Organization [ X ]
Hospital, Medical & Dental Service or Ìndemnity [ ] Ìs HMO, Federally Qualified? Yes [ X ] No [ ]
Ìncorporated/Organized 11/27/1985 Commenced Business 09/01/1986
Statutory Home Office 120 Fifth Avenue , Pittsburgh, PA 15222-3099
(Street and Number) (City or Town, State and Zip Code)
Main Administrative Office 120 Fifth Avenue Suite 924
(Street and Number)
Pittsburgh, PA 15222-3023 412-544-7000
(City or Town, State and Zip Code) (Area Code) (Telephone Number)
Mail Address 120 Fifth Avenue Suite 924 , Pittsburgh, PA 15222-3023
(Street and Number or P.O. Box) (City or Town, State and Zip Code)
Primary Location of Books and Records 120 Fifth Avenue Suite 924
(Street and Number)
Pittsburgh, PA 15222-3023 412-544-6902
(City or Town, State and Zip Code) (Area Code) (Telephone Number)
Ìnternet Website Address http://www.highmark.com
Statutory Statement Contact Janine Kopas Colinear 412-544-6902
(Name) (Area Code) (Telephone Number) (Extension)
janine.colinear@highmark.com 412-544-8674
(E-mail Address) (FAX Number)
Policyowner Relations Contact 120 Fifth Avenue
(Street and Number)
Pittsburgh, PA 15222-3099 412-544-7000
(City or Town, State and Zip Code) (Area Code) (Telephone Number) (Extension)
OFFICERS
Name Title Name Title
David Michael O'Brien , President and CEO Jacqueline Margaret Bauer, Esq. # , Corporate Secretary
Nanette Paden DeTurk # , Treasurer and CFO ,
OTHER OFFICERS
James Meade Klingensmith Sc.D. , Chairman of the Board of Directors Sandra Ruth Tomlinson , Senior Vice President
William John Cashion , Vice President Sara Marie Malara # , Assistant Secretary
DIRECTORS OR TRUSTEES
Nanette Paden DeTurk # Donald Robert Fischer, M.D. Robert William Ford, M.D. James Meade Klingensmith, Sc.D.
Donald Lee, Ed.D David Michael O'Brien Richard Joseph Ober Timothy Edward Parks
William Harvey Portman
State of
County of
Pennsylvania
Allegheny
ss
The officers of this reporting entity, being duly sworn, each depose and say that they are the described officers of said reporting entity, and that on the reporting period stated
above, all of the herein described assets were the absolute property of the said reporting entity, free and clear from any liens or claims thereon, except as herein stated, and that
this statement, together with related exhibits, schedules and explanations therein contained, annexed or referred to is a full and true statement of all the assets and liabilities and
of the condition and affairs of the said reporting entity as of the reporting period stated above, and of its income and deductions therefrom for the period ended, and have been
completed in accordance with the NAÌC Annual Statement Ìnstructions and Accounting Practices and Procedures manual except to the extent that: (1) state law may differ; or, (2)
that state rules or regulations require differences in reporting not related to accounting practices and procedures, according to the best of their information, knowledge and belief,
respectively. Furthermore, the scope of this attestation by the described officers also includes the related corresponding electronic filing with the NAÌC, when required, that is an
exact copy (except for formatting differences due to electronic filing) of the enclosed statement. The electronic filing may be requested by various regulators in lieu of or in addition
to the enclosed statement.
David Michael O'Brien Jacqueline Margaret Bauer, Esq. Nanette Paden DeTurk
President and CEO Corporate Secretary Treasurer and CFO
a. Ìs this an original filing? \es | \ | \c | |
Subscribed and sworn to before me this b. Ìf no,
day of February, 2007 1. State the amendment number
2. Date filed
3. Number of pages attached
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
ASSETS
Current Year Prior Year
1
Assets
2
Nonadmitted Assets
3
Net Admitted Assets
(Cols. 1 - 2)
4
Net Admitted
Assets
1. Bonds (Schedule D) ++ºì+9¹+J ++ºì+9¹+J 3cº¹9J+º2
2. Stocks (Schedule D):
2.1 Preferred stocks J J J
2.2 Common stocks ¹25º2ì ¹25º2ì J J
3. Mortgage loans on real estate (Schedule B):
3.1 First liens J J
3.2 Other than first liens J J
4. Real estate (Schedule A):
4.1 Properties occupied by the company (less
$ encumbrances) J J
4.2 Properties held for the production of income
(less $ encumbrances) J J
4.3 Properties held for sale (less
$ encumbrances) J J
5.
Cash ($ ¹¹5J3c+ , Schedule E, Part 1), cash equivalents
($ ¹+9ìc95¹ì , Schedule E, Part 2) and short-term
investments ($ 32c¹5¹5ì , Schedule DA) ¹º3535J3º ¹º3535J3º ¹++c¹++++
6.
Contract loans, (including $ premium notes) J J
7. Other invested assets (Schedule BA) º3º2+¹5 º3º2+¹5 J J
8. Receivables for securities ¹ìº3º3 ¹ìº3º3 9c+29
9. Aggregate write-ins for invested assets J J J J
10. Subtotals, cash and invested assets (Lines 1 to 9) c+J9ìJºJ3 º5Jº2+2 c32+c25c¹ 5¹29J¹355
11. Title plants less $ charged off (for Title
Ìnsurers only) J J
12. Ìnvestment income due and accrued +5323¹+ +5323¹+ 3+¹ºì5º
13. Premiums and considerations:
13.1 Uncollected premiums and agents' balances in the course of
collection 2¹º¹º+3J 2¹5ìì5 2¹cJ2c55 ¹3º5+JìJ
13.2 Deferred premiums, agents' balances and installments booked but
deferred and not yet due (including $ earned
but unbilled premium) J J
13.3 Accrued retrospective premium J J
14. Reinsurance:
14.1 Amounts recoverable from reinsurers J J
14.2 Funds held by or deposited with reinsured companies J J
14.3 Other amounts receivable under reinsurance contracts J J
15. Amounts receivable relating to uninsured plans cºìJ+¹3 º339J9 cJ3c5J+ +2¹J223
16.1Current federal and foreign income tax recoverable and interest thereon c+º5ºº2 c+º5ºº2 J
16.2Net deferred tax asset 2J2ì+º+J 399923c ¹c2ì5cJ+ ¹52ºì925
17. Guaranty funds receivable or on deposit J J
18. Electronic data processing equipment and software J J
19. Furniture and equipment, including health care delivery assets
($ ) J J
20. Net adjustment in assets and liabilities due to foreign exchange rates J J
21. Receivables from parent, subsidiaries and affiliates 22J¹ì¹ºì 22J¹ì¹ºì 2+ì92ìì9
22. Health care ($ 39º993J3 ) and other amounts receivable 39º993J3 2cìJJ5ºJ ¹3¹9ºì23 ¹2J5cJ33
23. Aggregate write-ins for other than invested assets 9¹Jì+c2 9¹Jì+c2 J J
24. Total assets excluding Separate Accounts, Segregated Accounts and
Protected Cell Accounts (Lines 10 to 23) ìì¹9ìcc3+ +93c52J+ ì22c¹¹+3J 5ºc52¹¹+3
25. From Separate Accounts, Segregated Accounts and Protected
Cell Accounts J J
26. Total (Lines 24 and 25) ìì¹9ìcc3+ +93c52J+ ì22c¹¹+3J 5ºc52¹¹+3
DETAILS OF WRITE-INS
0901.
0902.
0903.
0998. Summary of remaining write-ins for Line 9 from overflow page J J J J
0999. Totals (Lines 0901 through 0903 plus 0998) (Line 9 above) J J J J
2301. ²re,a·d |sse!s ard ´!|er 9¹Jì+c2 9¹Jì+c2 J J
2302.
2303.
2398. Summary of remaining write-ins for Line 23 from overflow page J J J J
2399. Totals (Lines 2301 through 2303 plus 2398) (Line 23 above) 9¹Jì+c2 9¹Jì+c2 J J
2
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
LIABILITIES, CAPITAL AND SURPLUS
Current Year Prior Year
1
Covered
2
Uncovered
3
Total
4
Total
1. Claims unpaid (less $ reinsurance ceded) ¹59c3399¹ ¹59c3399¹ ¹cì92º5¹+
2. Accrued medical incentive pool and bonus amounts 3552JJJ 3552JJJ J
3. Unpaid claims adjustment expenses 3ºì2cJ3 3ºì2cJ3 3ì+5º2ì
4. Aggregate health policy reserves 5c¹cìJc 5c¹cìJc 9+3c59c
5. Aggregate life policy reserves J J
6. Property/casualty unearned premium reserves J J
7. Aggregate health claim reserves J J
8. Premiums received in advance 3c+º52ì¹ 3c+º52ì¹ 2º323+¹+
9. General expenses due or accrued 23c9ì5cJ 23c9ì5cJ ¹¹5+2º99
10.1 Current federal and foreign income tax payable and interest thereon
(including
$ on realized capital gains (losses)) J c59¹ìJ+
10.2 Net deferred tax liability J J
11. Ceded reinsurance premiums payable J J
12. Amounts withheld or retained for the account of others J J
13. Remittance and items not allocated J J
14. Borrowed money (including $ current) and
interest thereon $ (including
$ current) J J
15. Amounts due to parent, subsidiaries and affiliates ¹+5J355+ ¹+5J355+ cJì+233
16. Payable for securities J J
17. Funds held under reinsurance treaties with ($
authorized reinsurers and $ unauthorized
reinsurers) J J
18. Reinsurance in unauthorized companies J J
19. Net adjustments in assets and liabilities due to foreign exchange rates J J
20. Liability for amounts held under uninsured plans 5339º¹33 5339º¹33 ¹¹¹ìºìºº
21. Aggregate write-ins for other liabilities (including $ 35Jc3
current) 39JJ¹º¹ J 39JJ¹º¹ ¹º3cc5J+
22 Total liabilities (Lines 1 to 21) 3J+c59999 J 3J+c59999 2c3¹ºº+ì9
23. Aggregate write-ins for special surplus funds XXX XXX J J
24. Common capital stock XXX XXX ¹5JJJJ ¹5JJJJ
25 Preferred capital stock XXX XXX J
26. Gross paid in and contributed surplus XXX XXX ¹2Jº5JJJJ ¹2Jº5JJJJ
27. Surplus notes XXX XXX J
28. Aggregate write-ins for other than special surplus funds XXX XXX J J
29. Unassigned funds (surplus) XXX XXX 29c95¹+3¹ 2J2332cc+
30. Less treasury stock, at cost:
30.1 shares common (value included in Line 24
$ ) XXX XXX J
30.2 shares preferred (value included in Line 25
$ ) XXX XXX J
31. Total capital and surplus (Lines 23 to 29 minus Line 30) XXX XXX +¹ì95¹+3¹ 323332cc+
32. Total liabilities, capital and surplus (Lines 22 and 31) XXX XXX ì22c¹¹+3J 5ºc52¹¹+3
DETAILS OF WRITE-INS
2101. ´!|er |·a|·¹·!·es 39JJ¹º¹ 39JJ¹º¹ ¹º3cc5J+
2102.
2103.
2198. Summary of remaining write-ins for Line 21 from overflow page J J J J
2199. Totals (Lines 2101 through 2103 plus 2198) (Line 21 above) 39JJ¹º¹ J 39JJ¹º¹ ¹º3cc5J+
2301. XXX XXX
2302. XXX XXX
2303. XXX XXX
2398. Summary of remaining write-ins for Line 23 from overflow page XXX XXX J J
2399. Totals (Lines 2301 through 2303 plus 2398) (Line 23 above) XXX XXX J J
2801. XXX XXX
2802. XXX XXX
2803. XXX XXX
2898. Summary of remaining write-ins for Line 28 from overflow page XXX XXX J J
2899. Totals (Lines 2801 through 2803 plus 2898) (Line 28 above) XXX XXX J J
3
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
STATEMENT OF REVENUE AND EXPENSES
Current Year Prior Year
1
Uncovered
2
Total
3
Total
1. Member Months XXX 3ìì+9cì 39c2+Jì
2. Net premium income (including $ J non-health premium income) XXX 2+J9ìºc+º2 22++2¹cJ¹9
3. Change in unearned premium reserves and reserve for rate credits XXX J
4. Fee-for-service (net of $ medical expenses) XXX J
5. Risk revenue XXX J
6. Aggregate write-ins for other health care related revenues XXX J J
7. Aggregate write-ins for other non-health revenues XXX J J
8. Total revenues (Lines 2 to 7) XXX 2+J9ìºc+º2 22++2¹cJ¹9
HospitaI and MedicaI:
9. Hospital/medical benefits ¹ºìc9J9929 ¹º3¹cJì2Jì
10. Other professional services J
11. Outside referrals J
12. Emergency room and out-of-area J
13. Prescription drugs 22J3+3+ì+ ¹ì5ì+3ìc9
14. Aggregate write-ins for other hospital and medical J J J
15. Ìncentive pool, withhold adjustments and bonus amounts ¹¹33¹22J +2ºJ233
16. Subtotal (Lines 9 to 15) J 2¹Jº5º+c23 2J¹¹c3¹2J9
Less:
17. Net reinsurance recoveries J
18. Total hospital and medical (Lines 16 minus 17) J 2¹Jº5º+c23 2J¹¹c3¹2J9
19. Non-health claims (net) J
20. Claims adjustment expenses, including $ 29º3ì¹2+ cost containment expenses º+Jìì+c9 ìJ55Jc3c
21. General administrative expenses 932+c95c ì+ìì+222
22. Ìncrease in reserves for life and accident and health contracts (including
$ increase in reserves for life only) ¸3º¹9º9J) ¸c3+J+)
23. Total underwriting deductions (Lines 18 through 22) J 22º2Jº9¹5º 2¹5cº92cc3
24. Net underwriting gain or (loss) (Lines 8 minus 23) XXX ¹2ìc9ì32+ ºì32335c
25. Net investment income earned (Exhibit of Net Ìnvestment Ìncome, Line 17) 3+¹2J+33 22¹c2++J
26. Net realized capital gains (losses) less capital gains tax of $ ¸33+22º3) ¸ì5+253)
27. Net investment gains (losses) (Lines 25 plus 26) J 3Jì캹5J 2¹+Jº¹ºì
28. Net gain or (loss) from agents' or premium balances charged off [(amount recovered
$ ) (amount charged off $ )] J
29. Aggregate write-ins for other income or expenses J 55ìc5 2J5J23
30. Net income or (loss) after capital gains tax and before all other federal income taxes
(Lines 24 plus 27 plus 28 plus 29) XXX ¹5º53¹239 ¹Jº93c5cc
31. Federal and foreign income taxes incurred XXX 5JJ2¹ºìc 29¹5J¹9+
32. Net income (loss) (Lines 30 minus 31) XXX ¹Jº5J93c3 ì9ìºc3ì2
DETAILS OF WRITE-INS
0601. XXX
0602. XXX
0603. XXX
0698. Summary of remaining write-ins for Line 6 from overflow page XXX J J
0699. Totals (Lines 0601 through 0603 plus 0698) (Line 6 above) XXX J J
0701. XXX
0702. XXX
0703. XXX
0798. Summary of remaining write-ins for Line 7 from overflow page XXX J J
0799. Totals (Lines 0701 through 0703 plus 0798) (Line 7 above) XXX J J
1401.
1402.
1403.
1498. Summary of remaining write-ins for Line 14 from overflow page J J J
1499. Totals (Lines 1401 through 1403 plus 1498) (Line 14 above) J J J
2901. ´!|er ¹rccªe ¸cx,erse) 55ìc5 2J5J23
2902.
2903.
2998. Summary of remaining write-ins for Line 29 from overflow page J J J
2999. Totals (Lines 2901 through 2903 plus 2998) (Line 29 above) J 55ìc5 2J5J23
4
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
STATEMENT OF REVENUE AND EXPENSES (continued)
1
Current Year
2
Prior Year
CAPITAL AND SURPLUS ACCOUNT:
33. Capital and surplus prior-reporting period 323332cc+ 25ºº9J955
34. Net income or (loss) from Line 32 ¹Jº5J93c3 ì9ìºc3ì2
35. Change in valuation basis of aggregate policy and claim reserves J
36. Change in net unrealized capital gains (losses) less capital gains tax of $ 141,500 º2¹599 ¸¹+º2+ì)
37. Change in net unrealized foreign exchange capital gain or (loss) J
38. Change in net deferred income tax ¹¹9+5+ ¸553º¹ì¹)
39. Change in nonadmitted assets ¸¹+º3¹c+9) ¸9c5º2+5)
40. Change in unauthorized reinsurance J J
41. Change in treasury stock J J
42. Change in surplus notes J J
43. Cumulative effect of changes in accounting principles J
44. Capital Changes:
44.1 Paid in J J
44.2 Transferred from surplus (Stock Dividend) J
44.3 Transferred to surplus J
45. Surplus adjustments:
45.1 Paid in J J
45.2 Transferred to capital (Stock Dividend) J J
45.3 Transferred from capital J
46. Dividends to stockholders J
47. Aggregate write-ins for gains or (losses) in surplus J J
48. Net change in capital & surplus (Lines 34 to 47) 9+c¹ºìcì c+++¹ìJ9
49. Capital and surplus end of reporting period (Line 33 plus 48) +¹ì95¹+3¹ 323332cc+
DETAILS OF WRITE-INS
4701.
4702.
4703.
4798. Summary of remaining write-ins for Line 47 from overflow page J J
4799. Totals (Lines 4701 through 4703 plus 4798) (Line 47 above) J J
5
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
CASH FLOW
1
Current Year
To Date
2
Prior Year Ended
December 31

Cash from Operations
1. Premiums collected net of reinsurance 2+Jì+5º+c¹ 2¹J칺º2+c
2. Net investment income 33+2ccºì 22ì+º992
3. Miscellaneous income J J
4. Total (Lines 1 through 3) 2++Jºº5¹+º 2¹2993ì23º
5. Benefits and loss related payments 2¹2JJcJJ5ì 2J¹33359¹º
6. Net transfers to Separate, Segregated Accounts and Protected Cell Accounts J
7. Commissions, expenses paid and aggregate write-ins for deductions ¹2535ì캹 ¹3ìc3+J5ì
8. Dividends paid to policyholders J
9. Federal and foreign income taxes paid (recovered) $ net of tax on capital gains (losses) c3J99+c2 +ìº+9ìº+
10. Total (Lines 5 through 9) 23Jº5¹ì3JJ 2¹9ºº¹9ì59
11. Net cash from operations (Line 4 minus Line 10) ¹323cìº+º ¸cººº252¹)
Cash from Investments
12. Proceeds from investments sold, matured or repaid:
12.1 Bonds 29¹c33Jìc ¹º+¹233¹c
12.2 Stocks J J
12.3 Mortgage loans J J
12.4 Real estate J J
12.5 Other invested assets J J
12.6 Net gains or (losses) on cash, cash equivalents and short-term investments ¹ìì22 ì9º2c
12.7 Miscellaneous proceeds J J
12.8 Total investment proceeds (Lines 12.1 to 12.7) 29¹c5Jì9º ¹º+2J3¹+2
13. Cost of investments acquired (long-term only):
13.1 Bonds 3ì5+ºc2¹+ 22+c53JJ2
13.2 Stocks ¹J5ì2ì J
13.3 Mortgage loans J J
13.4 Real estate J J
13.5 Other invested assets ìc++2ì3 J
13.6 Miscellaneous applications 3c2+32 9+ì35
13.7 Total investments acquired (Lines 13.1 to 13.6) 3º359ºc+c 22+ì+ìì3ì
14. Net increase (or decrease) in contract loans and premium notes J J
15. Net cash from investments (Line 12.8 minus Line 13.7 and Line 14) ¸9¹9+ìº+º) ¸+J5++595)
Cash from Financing and MisceIIaneous Sources
16. Cash provided (applied):
16.1 Surplus notes, capital notes J J
16.2 Capital and paid in surplus, less treasury stock J J
16.3 Borrowed funds J J
16.4 Net deposits on deposit-type contracts and other insurance liabilities J
16.5 Dividends to stockholders J J
16.6 Other cash provided (applied) ¸¹+99+Jc) ¹9cºìì
17. Net cash from financing and miscellaneous sources (Line 16.1 to Line 16.4 minus Line 16.5 plus Line 16.6) ¸¹+99+Jc) ¹9cºìì
RECONCILIATION OF CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
18. Net change in cash, cash equivalents and short-term investments (Line 11 plus Line 15 plus Line 17) 3º92J59+ ¸¹J923J239)
19. Cash, cash equivalents and short-term investments:
19.1 Beginning of year ¹++c¹++++ 253º++cº3
19.2 End of year (Line 18 plus Line 19.1) ¹º3535J3º ¹++c¹++++
6
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
ANALYSIS OF OPERATIONS BY LINES OF BUSINESS
1
Total
2
Comprehensive
(Hospital
&
Medical)
3
Medicare
Supplement
4
Dental
Only
5
Vision
Only
6
Federal
Employees
Health
Benefit Plan
7
Title
XVÌÌÌ
Medicare
8
Title
XÌX
Medicaid
9
Stop Loss
10
Disability
Ìncome
11
Long-term
Care
12
Other Health
13
Other
Non-Health
1. Net premium income 2+J9ìºc+º2 3ììºcì9ì+ J J J J 2J3¹9¹º5Jº J J J J J J
2. Change in unearned premium reserves and reserve for rate
credit J
3. Fee-for-service (net of $
medical expenses) J XXX
4.
Risk revenue J XXX
5.
Aggregate write-ins for other health care related revenues J J J J J J J J J J J J XXX
6. Aggregate write-ins for other non-health care related
revenues J XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX J
7. Total revenues (Lines 1 to 6) 2+J9ìºc+º2 3ììºcì9ì+ J J J J 2J3¹9¹º5Jº J J J J J J
8.
Hospital/medical/ benefits ¹ºìc9J9929 2ì+ì+º3cJ ¹cJ2¹c¹5c9 XXX
9.
Other professional services J XXX
10.
Outside referrals J XXX
11.
Emergency room and out-of-area J XXX
12.
Prescription Drugs 22J3+3+ì+ +39J9+2º ¹ìc+3+J+c XXX
13.
Aggregate write-ins for other hospital and medical J J J J J J J J J J J J XXX
14.
Ìncentive pool, withhold adjustments and bonus amounts ¹¹33¹22J ìº22ì+¹ 35Jº+ì9 XXX
15.
Subtotal (Lines 8 to 14) 2¹Jº5º+c23 32c+ºJ529 J J J J ¹ìº2¹J+J9+ J J J J J XXX
16.
Net reinsurance recoveries J XXX
17.
Total hospital and medical (Lines 15 minus 16) 2¹Jº5º+c23 32c+ºJ529 J J J J ¹ìº2¹J+J9+ J J J J J XXX
18.
Non-health claims (net) J XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX J
19. Claims adjustment expenses including
$ 29º3ì¹2+ cost containment expenses º+Jìì+c9 ¹º3355J9 c5ì+¹9cJ
20. General administrative expenses 932+c95c 2¹¹35c3¹ ìc2J5+9J ¸+J9+¹c5)
21.
Ìncrease in reserves for accident and health contracts ¸3º¹9º9J) ¸3º¹9º9J) \\\
22.
Ìncrease in reserves for life contracts J XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX
23. Total underwriting deductions (Lines 17 to 22) 22º2Jº9¹5º 3c2¹3¹ìì9 J J J J ¹92+J5¹5++ J J J J ¸+J9+¹c5) J
24. Net underwriting gain or (loss) (Line 7 minus Line 23) ¹2ìc9ì32+ ¹5ì3c¹95 J J J J ¹Jìºcc9c+ J J J J +J9+¹c5 J
DETAILS OF WRITE-INS
0501. XXX
0502. XXX
0503. XXX
0598.
Summary of remaining write-ins for Line 5 from overflow page J J J J J J J J J J J J XXX
0599.
Totals (Lines 0501 through 0503 plus 0598) (Line 5 above) J J J J J J J J J J J J XXX
0601. XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX
0602. XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX
0603. XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX
0698.
Summary of remaining write-ins for Line 6 from overflow page J XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX J
0699.
Totals (Lines 0601 through 0603 plus 0698) (Line 6 above) J XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX J
1301. XXX
1302. XXX
1303. XXX
1398. Summary of remaining write-ins for Line 13 from overflow
page J J J J J J J J J J J J XXX
1399.
Totals (Lines 1301 through 1303 plus 1398) (Line 13 above) J J J J J J J J J J J J XXX
7
STATEMENT AS OF ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
UNDERWRITING AND INVESTMENT EXHIBIT
PART 1 - PREMIUMS
Line of Business
1
Direct
Business
2
Reinsurance
Assumed
3
Reinsurance
Ceded
4
Net Premium
Ìncome
(Cols. 1+2-3)
1. Comprehensive (hospital and medical) 3ììºcì9ì+ 3ììºcì9ì+
2. Medicare Supplement J
3. Dental Only J
4. Vision Only J
5. Federal Employees Health Benefits Plan J
6. Title XVÌÌÌ - Medicare 2J3¹9¹º5Jº 2J3¹9¹º5Jº
7. Title XÌX - Medicaid J
8. Stop Loss J
9. Disability Ìncome J
10. Long-term care J
11. Other health J
12. Health subtotal (Lines 1 through 11) 2+J9ìºc+º2 J J 2+J9ìºc+º2
13. Life J
14. Property/Casualty J
15. Totals (Lines 12 to 14) 2+J9ìºc+º2 J J 2+J9ìºc+º2
8
STATEMENT AS OF ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
UNDERWRITING AND INVESTMENT EXHIBIT
PART 2 - CIaims Incurred During the Year
1
Total
2
Comprehensive
(Hospital &
Medical)
3
Medicare
Supplement
4
Dental
Only
5
Vision
Only
6
Federal
Employees
Health
Benefits Plan
7
Title
XVÌÌÌ
Medicare
8
Title
XÌX
Medicaid
9
Stop
Loss
10
Disability
Ìncome
11
Long-Term
Care
12
Other Health
13
Other
Non-Health
1.
Payments during the year:
1.1 Direct 2¹¹+cº93Jº 32º2Jº339 ¹ìºc+ºJ9c9
1.2 Reinsurance assumed J
1.3 Reinsurance ceded J
1.4 Net 2¹¹+cº93Jº 32º2Jº339 J J J J ¹ìºc+ºJ9c9 J J J J J J
2. Paid medical incentive pools and
bonuses ììì922J +2cìì+¹ 35¹¹+ì9
3. Claim liability December 31, current year
from Part 2A:
3.1 Direct ¹59c3399¹ ¹99º¹3J¹ J J J J ¹39c52c9J J J J J J J
3.2 Reinsurance assumed J J J J J J J J J J J J J
3.3 Reinsurance ceded J J J J J J J J J J J J J
3.4 Net ¹59c3399¹ ¹99º¹3J¹ J J J J ¹39c52c9J J J J J J J
4. Claim reserve December 31, current
year from Part 2D:
4.1 Direct J
4.2 Reinsurance assumed J
4.3 Reinsurance ceded J J J J J J J J J J J
4.4 Net J J J J J J J J J J J J J
5. Accrued medical incentive pools and
bonuses, current year 3552JJJ 3555JJJ ¸3JJJ)
6. Net healthcare receivables (a) ¸9¹+¹3º2) ¸2Jºcºcc) ¸ìJ5+5¹c)
7. Amounts recoverable from reinsurers
December 31, current year J
8. Claim liability December 31, prior year
from Part 2A:
8.1 Direct ¹cì92º5¹+ 2ì+++9ºc J J J J ¹+J+º352º J J J J J J
8.2 Reinsurance assumed J J J J J J J J J J J J J
8.3 Reinsurance ceded J J J J J J J J J J J J J
8.4 Net ¹cì92º5¹+ 2ì+++9ºc J J J J ¹+J+º352º J J J J J J
9. Claim reserve December 31, prior year
from Part 2D:
9.1 Direct J J J J J J J J J J J J J
9.2 Reinsurance assumed J J J J J J J J J J J J J
9.3 Reinsurance ceded J J J J J J J J J J J J J
9.4 Net J J J J J J J J J J J J J
10. Accrued medical incentive pools and
bonuses, prior year J J J J J J J J J J J J J
11. Amounts recoverable from reinsurers
December 31, prior year J J J J J J J J J J J J J
12. Ìncurred Benefits:
12.1 Direct 2J9ì253+J3 3¹ºc5ì캺 J J J J ¹ììº595c¹5 J J J J J J
12.2 Reinsurance assumed J J J J J J J J J J J J J
12.3 Reinsurance ceded J J J J J J J J J J J J J
12.4 Net 2J9ì253+J3 3¹ºc5ì캺 J J J J ¹ììº595c¹5 J J J J J J
13. Ìncurred medical incentive pools and
bonuses ¹¹33¹22J ìº22ì+¹ J J J J 35Jº+ì9 J J J J J J
(a) Excludes $ loans or advances to providers not yet expensed.
9
STATEMENT AS OF ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
UNDERWRITING AND INVESTMENT EXHIBIT
PART 2A - CIaims LiabiIity End of Current Year
1
Total
2
Comprehensive
(Hospital &
Medical)
3
Medicare
Supplement
4
Dental
Only
5
Vision
Only
6
Federal
Employees
Health
Benefits Plan
Premium
7
Title XVÌÌÌ
Medicare
8
Title XÌX
Medicaid
9
Stop
Loss
10
Disability
Ìncome
11
Long-Term
Care
12
Other
Health
13
Other
Non-Health
1.
Reported in Process of Adjustment:
1.1. Direct J
1.2. Reinsurance assumed J
1.3. Reinsurance ceded J
1.4. Net J J J J J J J J J J J J J
2. Ìncurred but Unreported:
2.1. Direct ¹59c3399¹ ¹99º¹3J¹ ¹39c52c9J
2.2. Reinsurance assumed J
2.3. Reinsurance ceded J
2.4. Net ¹59c3399¹ ¹99º¹3J¹ J J J J ¹39c52c9J J J J J J J
3. Amounts Withheld from Paid Claims and Capitations:
3.1. Direct J
3.2. Reinsurance assumed J
3.3. Reinsurance ceded J
3.4. Net J J J J J J J J J J J J J
4. TOTALS:
4.1. Direct ¹59c3399¹ ¹99º¹3J¹ J J J J ¹39c52c9J J J J J J J
4.2. Reinsurance assumed J J J J J J J J J J J J J
4.3. Reinsurance ceded J J J J J J J J J J J J J
4.4. Net ¹59c3399¹ ¹99º¹3J¹ J J J J ¹39c52c9J J J J J J J
1
0
STATEMENT AS OF ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
UNDERWRITING AND INVESTMENT EXHIBIT
PART 2B - ANALYSIS OF CLAIMS UNPAID - PRIOR YEAR - NET OF REINSURANCE
Claims Paid During the Year
Claim Reserve and Claim Liability Dec. 31 of
Current Year
5 6
Line of Business
1
On Claims Ìncurred
Prior to January 1
of Current Year
2
On Claims Ìncurred
During the Year
3
On Claims Unpaid
December 31 of
Prior Year
4
On Claims Ìncurred
During the Year
Claims Ìncurred
in Prior Years
(Columns 1 + 3)
Estimated Claim
Reserve and Claim
Liability
December 31 of
Prior Year
1. Comprehensive (hospital and medical) 2J9º2¹ìì 3Jì22c¹c2 +¹ì+2J ¹95c3ºº¹ 2¹39959ì 2ì+++9ºc
2. Medicare Supplement J J
3. Dental Only J J
4. Vision Only J J
5. Federal Employees Health Benefits Plan Premiums J J
6. Title XVÌÌÌ - Medicare ¹¹¹9923+9 ¹cì++ººc2J ¹¹ì¹+JJ ¹3º+º¹29J ¹¹3¹c3ì+9 ¹+J+º352º
7. Title XÌX - Medicaid J J
8. Other health J J
9. Health subtotal (Lines 1 to 8) ¹329ì+52c ¹9º¹ì¹+ìº2 ¹5ººº2J ¹5ºJ+5¹ì¹ ¹3+5c33+c ¹cì92º5¹+
10. Healthcare receivables (a) ¹9¹JJJ 3+ì93ìc2 ¹9¹JJJ 25º+33ºJ
11. Other non-health J J
12. Medical incentive pools and bonus amounts ììì922J ¹J+2JJJ 25¹JJJJ ¹J+2JJJ J
13. Totals (Lines 9 - 10 + 11 + 12) ¹32ìº352c ¹95+ìJJ2+J 2c3Jº2J ¹cJ555¹ì¹ ¹35+¹+3+c ¹+2Jº5¹3+
(a) Excludes $ loans or advances to providers not yet expensed.
1
1
STATEMENT AS OF ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
UNDERWRITING AND INVESTMENT EXHIBIT
PART 2C - DEVELOPMENT OF PAID AND INCURRED HEALTH CLAIMS
(000 Omitted)
Section A - Paid HeaIth CIaims - HospitaI and MedicaI
Cumulative Net Amounts Paid
Year in Which Losses Were Ìncurred
1
2002
2
2003
3
2004
4
2005
5
2006
1. Prior 3+5c3J 3+c+3º 3+c+5ì 3+c+Jc 3+c233
2. 2002 35º93º +J5359 +J5+¹º +J5+3ì +J5+3ì
3. 2003 \\\ 393399 +2º+2c +2º9+9 +29¹¹ì
4. 2004 \\\ \\\ 35+93ì 3칺29 3ì¹+9º
5. 2005 \\\ \\\ \\\ 35¹¹cì 3ì2+º5
6. 2006 \\\ \\\ \\\ \\\ 3¹¹+93
Section B - Incurred HeaIth CIaims - HospitaI and MedicaI
Sum of Cumulative Net Amount Paid and Claim Liability,
Claim Reserve and Medical Ìncentive Pool and Bonuses Outstanding at End of Year
Year in Which Losses Were Ìncurred
1
2002
2
2003
3
2004
4
2005
5
2006
1. Prior 32¹5J+ 32232+ 3223cc 3223¹5 322¹+2
2. 2002 3ìJ9¹c +¹ìº¹c +¹º295 +¹º3¹5 +¹º3¹5
3. 2003 \\\ +3¹2¹¹ +cº3c5 +c9J2+ +c9¹92
4. 2004 \\\ \\\ +º2¹J3 +9939ì +99¹+5
5. 2005 \\\ \\\ \\\ 3ìºJì+ +JJìì3
6. 2006 \\\ \\\ \\\ \\\ 3335ìJ
Section C - Incurred Year HeaIth CIaims and CIaims Adjustment Expense Ratio - HospitaI and MedicaI
Years in which
Premiums were Earned and Claims
were Ìncurred
1
Premiums Earned
2
Claims Payments
3
Claim Adjustment
Expense
Payments
4
Col. (3/2)
Percent
5
Claim and Claim
Adjustment
Expense
Payments
(Col. 2+3)
6
Col. (5/1)
Percent
7
Claims Unpaid
8
Unpaid Claims
Adjustment
Expenses
9
Total Claims and
Claims
Adjustment
Expense Ìncurred
(Col. 5+7+8)
10
Col. (9/1)
Percent
1. 2002 +235ºì +J5+3ì ¹ì9ºc ++ +23+23 ¹JJJ +23+23 ¹JJJ
2. 2003 +5ì55ì +29¹¹ì 2+¹º3 5c +533JJ 99¹ +533JJ 99¹
3. 2004 +¹+ccì 3ì¹+9º ¹+325 39 3º5º23 93J ì9 3 3º59J5 93¹
4. 2005 +2++ìc 3ì2+º5 ¹2Jºº 32 3º+5ì3 9Jc ¹3º¹ 5J 3ºcJJ+ 9J9
5. 2006 3ììºcº 3¹¹+93 2º¹ì J9 3¹+3¹J º32 22Jìì ì99 33칺c º92
1
2
STATEMENT AS OF ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
UNDERWRITING AND INVESTMENT EXHIBIT
PART 2C - DEVELOPMENT OF PAID AND INCURRED HEALTH CLAIMS
(000 Omitted)
Section A - Paid HeaIth CIaims - FederaI EmpIoyees HeaIth Benefits PIan Premium
Cumulative Net Amounts Paid
Year in Which Losses Were Ìncurred
1
2002
2
2003
3
2004
4
2005
5
2006
1. Prior 95Jì 952c 952c 952c 952c
2. 2002 cc+c cº55 cº55 cº55 cº55
3. 2003 \\\ º¹2 º¹2 º¹2 º¹2
4. 2004 \\\ \\\ J J
5. 2005 \\\ \\\ \\\ J
6. 2006 \\\ \\\ \\\ \\\
Section B - Incurred HeaIth CIaims - FederaI EmpIoyees HeaIth Benefits PIan Premium
Sum of Cumulative Net Amount Paid and Claim Liability,
Claim Reserve and Medical Ìncentive Pool and Bonuses Outstanding at End of Year
Year in Which Losses Were Ìncurred
1
2002
2
2003
3
2004
4
2005
5
2006
1. Prior ¹3JJì ¹3J2c ¹3J2c ¹3J2c ¹3J2c
2. 2002 ¹3229 ¹399¹ ¹339¹ ¹339¹ ¹339¹
3. 2003 \\\ º¹c º¹c º¹c º¹c
4. 2004 \\\ \\\
5. 2005 \\\ \\\ \\\
6. 2006 \\\ \\\ \\\ \\\
Section C - Incurred Year HeaIth CIaims and CIaims Adjustment Expense Ratio - FederaI EmpIoyees HeaIth Benefits PIan Premium
Years in which
Premiums were Earned and Claims
were Ìncurred
1
Premiums Earned
2
Claims Payments
3
Claim Adjustment
Expense
Payments
4
Col. (3/2)
Percent
5
Claim and Claim
Adjustment
Expense
Payments
(Col. 2+3)
6
Col. (5/1)
Percent
7
Claims Unpaid
8
Unpaid Claims
Adjustment
Expenses
9
Total Claims and
Claims
Adjustment
Expense Ìncurred
(Col. 5+7+8)
10
Col. (9/1)
Percent
1. 2002 ìcc+ cº55 3¹c +c ì¹ì¹ 93c ì¹ì¹ 93c
2. 2003 ¸¹J) º¹2 2ì¹ 33+ ¹Jº3 ¸¹Jº3JJ) ¹Jº3 ¸¹Jº3JJ)
3. 2004 J J ¹J5 JJ ¹J5 JJ ¹J5 JJ
4. 2005 J J J JJ J JJ J JJ
5. 2006 J J J JJ J JJ J JJ
1
2
STATEMENT AS OF ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
UNDERWRITING AND INVESTMENT EXHIBIT
PART 2C - DEVELOPMENT OF PAID AND INCURRED HEALTH CLAIMS
(000 Omitted)
Section A - Paid HeaIth CIaims - Medicare
Cumulative Net Amounts Paid
Year in Which Losses Were Ìncurred
1
2002
2
2003
3
2004
4
2005
5
2006
1. Prior ¹J3+39J ¹J35ºc2 ¹J35ºc2 ¹J35ºJ¹ ¹J359ìì
2. 2002 ¹¹2J+92 ¹2529J+ ¹2529J+ ¹252ºc2 ¹2532º¹
3. 2003 \\\ ¹259ºJ2 ¹+J2+¹2 ¹+J29cº ¹+J3¹5ì
4. 2004 \\\ \\\ ¹3ì+¹c+ ¹+5c+J¹ ¹+5cºJc
5. 2005 \\\ \\\ \\\ ¹5cJJc5 ¹cìJºc9
6. 2006 \\\ \\\ \\\ \\\ ¹cìºJJ¹
Section B - Incurred HeaIth CIaims - Medicare
Sum of Cumulative Net Amount Paid and Claim Liability,
Claim Reserve and Medical Ìncentive Pool and Bonuses Outstanding at End of Year
Year in Which Losses Were Ìncurred
1
2002
2
2003
3
2004
4
2005
5
2006
1. Prior 935Jì2 93c캹 93c캹 93cì2J 93cº9c
2. 2002 ¹¹2ì2ºº ¹2c¹9ìc ¹2c2JJc ¹2c¹99ì ¹2c2+¹c
3. 2003 \\\ ¹+¹22cì ¹555323 ¹55c¹ì+ ¹55c3º¹
4. 2004 \\\ \\\ ¹3995c5 ¹+º3ì¹ì ¹+º+339
5. 2005 \\\ \\\ \\\ ¹c9º3J5 ¹º¹JJ++
6. 2006 \\\ \\\ \\\ \\\ ¹º¹c+ì9
Section C - Incurred Year HeaIth CIaims and CIaims Adjustment Expense Ratio - Medicare
Years in which
Premiums were Earned and Claims
were Ìncurred
1
Premiums Earned
2
Claims Payments
3
Claim Adjustment
Expense
Payments
4
Col. (3/2)
Percent
5
Claim and Claim
Adjustment
Expense
Payments
(Col. 2+3)
6
Col. (5/1)
Percent
7
Claims Unpaid
8
Unpaid Claims
Adjustment
Expenses
9
Total Claims and
Claims
Adjustment
Expense Ìncurred
(Col. 5+7+8)
10
Col. (9/1)
Percent
1. 2002 ¹39¹5ìì ¹2532º¹ 33352 2ì ¹2ºcc33 925 ¹2ºcc33 925
2. 2003 ¹5¹599c ¹+J3¹5ì c922+ +9 ¹+ì23º¹ 9ì¹ ¹º ¹+ì2399 9ì¹
3. 2004 ¹c593ìì ¹+5cºJc +2¹¹c 29 ¹+9º922 9J3 2¹º c ¹+99¹+c 9J3
4. 2005 ¹º¹9ì+J ¹cìJºc9 +2Jcº 25 ¹ì¹293ì 9+¹ 935 2J ¹ì¹3º92 9+2
5. 2006 2J3¹9¹9 ¹cìºJJ¹ ¹+cJ¹ J9 ¹c92cJ2 º33 ¹3º+ìº 2995 ¹º3+Jì5 9J3
1
2
STATEMENT AS OF ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
UNDERWRITING AND INVESTMENT EXHIBIT
PART 2C - DEVELOPMENT OF PAID AND INCURRED HEALTH CLAIMS
(000 Omitted)
Section A - Paid HeaIth CIaims - Grand TotaI
Cumulative Net Amounts Paid
Year in Which Losses Were Ìncurred
1
2002
2
2003
3
2004
4
2005
5
2006
1. Prior ¹3º952ì ¹39¹º2c ¹39¹º+5 ¹39¹ì33 ¹39¹ì3c
2. 2002 ¹+ºcJìc ¹cc5¹¹º ¹cc5¹ìì ¹cc5¹5+ ¹cc55ì3
3. 2003 \\\ ¹c5+J¹3 ¹º3¹c5J ¹º32ì29 ¹º33Jºc
4. 2004 \\\ \\\ ¹ì29¹J¹ ¹º2º23J ¹º2º3J+
5. 2005 \\\ \\\ \\\ ¹9¹¹232 2J+335+
6. 2006 \\\ \\\ \\\ \\\ ¹9º9+9+
Section B - Incurred HeaIth CIaims - Grand TotaI
Sum of Cumulative Net Amount Paid and Claim Liability,
Claim Reserve and Medical Ìncentive Pool and Bonuses Outstanding at End of Year
Year in Which Losses Were Ìncurred
1
2002
2
2003
3
2004
4
2005
5
2006
1. Prior ¹2c95º3 ¹2ì2¹3¹ ¹2ì2¹ì3 ¹2ì2Jc¹ ¹2ì2Jc+
2. 2002 ¹5¹¹+33 ¹c93ìº3 ¹c93c92 ¹c93ìJ3 ¹c9+¹22
3. 2003 \\\ ¹º++29+ 2J2+5J+ 2J2cJ¹+ 2J2c3º9
4. 2004 \\\ \\\ ¹ºº¹ccº ¹9º3¹¹+ ¹9º3+º+
5. 2005 \\\ \\\ \\\ 2Jìc3ì9 22¹Jº¹ì
6. 2006 \\\ \\\ \\\ \\\ 2¹5JJ+9
Section C - Incurred Year HeaIth CIaims and CIaims Adjustment Expense Ratio - Grand TotaI
Years in which
Premiums were Earned and Claims
were Ìncurred
1
Premiums Earned
2
Claims Payments
3
Claim Adjustment
Expense
Payments
4
Col. (3/2)
Percent
5
Claim and Claim
Adjustment
Expense
Payments
(Col. 2+3)
6
Col. (5/1)
Percent
7
Claims Unpaid
8
Unpaid Claims
Adjustment
Expenses
9
Total Claims and
Claims
Adjustment
Expense Ìncurred
(Col. 5+7+8)
10
Col. (9/1)
Percent
1. 2002 ¹º22º2º ¹cc55ì3 5¹c5+ 3¹ ¹ì¹ì22ì 9+2 J J ¹ì¹ì22ì 9+2
2. 2003 ¹9ì35+3 ¹º33Jºc 93cìº 5¹ ¹92cìc+ 9ìc ¹º J ¹92cìº2 9ìc
3. 2004 2Jì+J++ ¹º2º3J+ 5c5+c 3¹ ¹ºº+º5J 9J9 29ì 9 ¹ºº5¹5c 9J9
4. 2005 22++2¹c 2J+335+ 5+¹5c 2ì 2J9ì5¹J 935 23¹c ìJ 2J99º9c 93c
5. 2006 2+J9ìºì ¹9º9+9+ ¹ì+¹º J9 2JJc9¹2 º33 ¹cJ555 3ì9+ 2¹ì¹2c¹ 9J¹
1
2
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
UNDERWRITING AND INVESTMENT EXHIBIT
PART 2D - AGGREGATE RESERVE FOR ACCIDENT AND HEALTH CONTRACTS ONLY
1
Total
2
Comprehensive
(Hospital &
Medical)
3
Medicare
Supplement
4
Dental Only
5
Vision Only
6
Federal
Employees
Health Benefit
Plan
7
Title XVÌÌÌ
Medicare
8
Title XÌX
Medicaid
9
Stop
Loss
10
Disability
Ìncome
11
Long-Term
Care
12
Other
POLICY RESERVE
1. Unearned premium reserves J
2. Additional policy reserves (a) J
3. Reserve for future contingent benefits J
4. Reserve for rate credits or experience rating refunds (including
$ for investment income) J
5. Aggregate write-ins for other policy reserves 5c¹cìJc 5c¹cìJc J J J J J J J J J J
6. Totals (Gross) 5c¹cìJc 5c¹cìJc J J J J J J J J J J
7. Reinsurance ceded J
8. Totals (Net) (Page 3, Line 4) 5c¹cìJc 5c¹cìJc J J J J J J J J J J
CLAIM RESERVE
9. Present value of amounts not yet due on claims J
10. Reserve for future contingent benefits J
11. Aggregate write-ins for other claim reserves J J J J J J J J J J J J
12. Totals (Gross) J J J J J J J J J J J J
13. Reinsurance ceded J
14. Totals (Net) (Page 3, Line 7) J J J J J J J J J J J J
DETAILS OF WRITE-INS
0501. ²reª·cª Je!·c·ercy ¯eserve 5c¹cìJc 5c¹cìJc
0502.
0503.
0598. Summary of remaining write-ins for Line 5 from overflow page J J J J J J J J J J J J
0599. TOTALS (Lines 0501 through 0503 plus 0598) (Line 5 above) 5c¹cìJc 5c¹cìJc J J J J J J J J J J
1101.
1102.
1103.
1198. Summary of remaining write-ins for Line 11 from overflow page J J J J J J J J J J J J
1199. TOTALS (Lines 1101 through 1103 plus 1198) (Line 11 above) J J J J J J J J J J J J
(a) Ìncludes $ premium deficiency reserve.
1
3
STATEMENT AS OF ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
UNDERWRITING AND INVESTMENT EXHIBIT
PART 3 - ANALYSIS OF EXPENSES
Claim Adjustment Expenses 3 4 5
1
Cost
Containment
Expenses
2
Other Claim
Adjustment
Expenses
General
Administrative
Expenses
Ìnvestment
Expenses Total
1. Rent ($ for occupancy of own building) ¹ìì+ìº ¹º2º++ì ¹cºì¹º9 ccc9 3c99ìº3
2. Salaries, wages and other benefits ¹c53ºì52 2595+25º 352c+3Jì 3+5235 캹J2552
3. Commissions (less $ ceded plus
$ assumed +c5+5+3 +c5+5+3
4. Legal fees and expenses 2953 2c5 ììc+c¹ ìì9cì9
5. Certifications and accreditation fees 33º+5 33º+5
6. Auditing, actuarial and other consulting services 33cc39 3¹º2+¹¹ 2ì¹¹º+c 2+ c23J92J
7. Traveling expenses ¹5º9J3 3º+º59 ¹J¹2Jì¹ +¹+º ¹5599º¹
8. Marketing and advertising ¹ìJcJº2ì ¹ìJcJº2ì
9. Postage, express and telephone +2c32ì 33ºº9++ 22+ìcJ3 ºcì cJc3ì+¹
10. Printing and office supplies ¹¹ºJ+9 cìcJ+5 ¹Jc939c ¹ìJ¹ ¹ºc5¹9¹
11. Occupancy, depreciation and amortization 3392¹ 55¹+Jc +9c5ì5 ¹¹¹2 ¹Jº3J¹+
12. Equipment ì3+ì 32ì33c 2ìc¹ì+ 5+ c¹J9¹¹
13. Cost or depreciation of EDP equipment and software 2cJ¹9¹ +25c9ìJ 3cììºcì º3 º¹95¹¹¹
14. Outsourced services including EDP, claims, and other services ¹35ìcJìì ¹cºJJ52ì 9J3cì+º ¹J52 39+¹++J+
15. Boards, bureaus and association fees 332ìì ¹ìºJ+ c5ºº5J +239 ì¹+¹ìJ
16. Ìnsurance, except on real estate ¹25c ¹ìì59 ¹++J523 +J ¹+595ìº
17. Collection and bank service charges J
18. Group service and administration fees J
19. Reimbursements by uninsured plans ¸325J9ìº) ¸5ì¹3º¹2) ¸9ºcº+ìº) ¸¹ºº332cº)
20. Reimbursements from fiscal intermediaries J
21. Real estate expenses c35ì2 ì¹cJìc c5¹cºJ ¹c2cc5 ¹593993
22. Real estate taxes ¹3º+¹ ¹+23c+ ¹3¹c¹5 +ì2 2ºº292
23. Taxes, licenses and fees:
23.1 State and local insurance taxes J
23.2 State premium taxes J
23.3 Regulatory authority licenses and fees 5J3c3 ¹¹5 ¹¹9J22 ¹c95JJ
23.4 Payroll taxes 9+c3J9 ¹5cì+ºc ¹º+5ì9c ¹+2c+ +3ì3º55
23.5 Other (excluding federal income and real estate taxes) ¹ìJ9J¹J3 ¹ìJ9J¹J3
24. Ìnvestment expenses not included elsewhere 393+c¹ 393+c¹
25. Aggregate write-ins for expenses 3+2º+ì ¹+¹Jº5 ¹¹ì2393 J ¹c5c325
26. Total expenses incurred (Lines 1 to 25) 29º3ì¹2+ 5+2+J3+5 932+c95c 93cJºc ¸a) ¹ìº2cJ5¹¹
27. Less expenses unpaid December 31, current year ¹ìJ39+5 2¹cºc5º 23c9ì5cJ 2ì5ìJ¹c3
28. Add expenses unpaid December 31, prior year ¹c¹JìJc 2¹35¹2¹ ¹¹5+2º99 J ¹52ººì2c
29. Amounts receivable relating to uninsured plans, prior year J J +2ºJ5¹J J +2ºJ5¹J
30. Amounts receivable relating to uninsured plans, current year cºìJ+¹3 cºìJ+¹3
31. Total expenses paid (Lines 26 minus 27 plus 28 minus 29 plus 30) 29ì+3ºº5 5+2JcºJº º3cº2¹9º 93cJºc ¹cº5cº9ìì
DETAIL OF WRITE-INS
2501. \e!«cr| |ccess ¯ees 3+2º+ì 3+2º+ì
2502. ´!|er cx,erses ¹+¹Jº5 ¹¹ì2393 ¹3¹3+ìº
2503.
2598. Summary of remaining write-ins for Line 25 from overflow page J J J J J
2599. Totals (Line 2501 through 2503 plus 2598)(Line 25 above) 3+2º+ì ¹+¹Jº5 ¹¹ì2393 J ¹c5c325
(a) Ìncludes management fees of $ to affiliates and $ to non-affiliates.
14
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
EXHIBIT OF NET INVESTMENT INCOME
1
Collected
During Year
2
Earned
During Year
1. U.S. Government bonds (a) 5c2ì9+¹ ccº5253
1.1 Bonds exempt from U.S. tax (a)
1.2 Other bonds (unaffiliated) (a) ¹3332c39 ¹32º9+ìc
1.3 Bonds of affiliates (a)
2.1 Preferred stocks (unaffiliated) (b)
2.11 Preferred stocks of affiliates (b)
2.2 Common stocks (unaffiliated)
2.21 Common stocks of affiliates
3. Mortgage loans (c)
4. Real estate (d)
5. Contract loans
6. Cash, cash equivalents and short-term investments (e) ¹+99Jìcº ¹5J3º5ì2
7. Derivative instruments (f)
8. Other invested assets
9. Aggregate write-ins for investment income +32¹º +32¹º
10. Total gross investment income 3399+5cc 35J5c5¹9
11. Ìnvestment expenses (g) 93cJºc
12. Ìnvestment taxes, licenses and fees, excluding federal income taxes (g)
13. Ìnterest expense (h)
14. Depreciation on real estate and other invested assets (i)
15. Aggregate write-ins for deductions from investment income J
16. Total (Lines 11 through 15) 93cJºc
17. Net Ìnvestment Ìncome - (Line 10 minus Line 16) 3+¹2J+33
DETAILS OF WRITE-INS
0901. Seccr·!·es |erd·rç ¹rccªe +32¹º +32¹º
0902.
0903.
0998. Summary of remaining write-ins for Line 9 from overflow page J J
0999. Totals (Lines 0901 through 0903 plus 0998) (Line 9, above) +32¹º +32¹º
1501.
1502.
1503.
1598. Summary of remaining write-ins for Line 15 from overflow page J
1599. Total (Lines 1501 through 1503 plus 1598) (Line 15, above) J
(a) Ìncludes $ +22¹ì9 accrual of discount less $ º+¹9º9 amortization of premium and less $ 23+ì¹2+ paid for accrued interest on purchases.
(b) Ìncludes $ accrual of discount less $ amortization of premium and less $ paid for accrued dividends on purchases.
(c) Ìncludes $ accrual of discount less $ amortization of premium and less $ paid for accrued interest on purchases.
(d) Ìncludes $ for company's occupancy of its own buildings; and excludes $ interest on encumbrances.
(e) Ìncludes $ accrual of discount less $ amortization of premium and less $ paid for accrued interest on purchases.
(f) Ìncludes $ accrual of discount less $ amortization of premium.
(g) Ìncludes $ investment expenses and $ investment taxes, licenses and fees, excluding federal income taxes, attributable to
segregated and Separate Accounts.
(h) Ìncludes $ interest on surplus notes and $ interest on capital notes.
(i) Ìncludes $ depreciation on real estate and $ depreciation on other invested assets.
EXHIBIT OF CAPITAL GAINS (LOSSES)
1
Realized
Gain (Loss)
On Sales or
Maturity
2
Other
Realized
Adjustments
3
Unrealized Ìncreases
(Decreases)
by
Adjustment
4
Total
1. U.S. Government bonds ¸9ººJ¹+) ¸2¹325) ¸¹JJ9339)
1.1 Bonds exempt from U.S. tax J
1.2 Other bonds (unaffiliated) ¸2J93+J+) J 22ºJì3 ¸¹ºc533¹)
1.3 Bonds of affiliates J J J J
2.1 Preferred stocks (unaffiliated) J
2.11 Preferred stocks of affiliates J J J J
2.2 Common stocks (unaffiliated) J
2.21 Common stocks of affiliates J J 2J¹JJ 2J¹JJ
3. Mortgage loans J
4. Real estate J
5. Contract loans J
6. Cash, cash equivalents and short-term investments J
7. Derivative instruments J
8. Other invested assets ì3º¹+2 ì3º¹+2
9. Aggregate write-ins for capital gains (losses) J ¸2cJºc5) ¸¹º9¹) ¸2c2ì5c)
10. Total capital gains (losses) ¸3Jº¹+¹º) ¸2cJºc5) 9c3J99 ¸23ì9¹º+)
DETAILS OF WRITE-INS
0901. ´!|er ¸2cJºc5) ¸¹º9¹) ¸2c2ì5c)
0902.
0903.
0998. Summary of remaining write-ins for Line 9 from overflow page J J J J
0999. Totals (Lines 0901 through 0903 plus 0998) (Line 9, above) J ¸2cJºc5) ¸¹º9¹) ¸2c2ì5c)
15
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
EXHIBIT OF NONADMITTED ASSETS
1
Current Year Total
Nonadmitted Assets
2
Prior Year
Nonadmitted Assets
3
Change in Total
Nonadmitted Assets
(Col. 2 - Col. 1)
1. Bonds (Schedule D) J J J
2. Stocks (Schedule D):
2.1 Preferred stocks J J J
2.2 Common stocks ¹25º2ì J ¸¹25º2ì)
3. Mortgage loans on real estate (Schedule B):
3.1 First liens J J J
3.2 Other than first liens J J J
4. Real estate (Schedule A):
4.1 Properties occupied by the company J J J
4.2 Properties held for the production of income J J J
4.3 Properties held for sale J J J
5.
Cash, (Schedule-E, Part 1), cash equivalents (Schedule-E, Part 2) and
short-term investments (Schedule DA) J J J
6.
Contract loans J J J
7. Other invested assets (Schedule BA) º3º2+¹5 J ¸º3º2+¹5)
8. Receivables for securities J J J
9. Aggregate write-ins for invested assets J J J
10. Subtotals, cash and invested assets (Lines 1 to 9) º5Jº2+2 J ¸º5Jº2+2)
11. Title plants (for Title insurers only) J J J
12. Ìnvestment income due and accrued J J J
13. Premiums and considerations:
13.1 Uncollected premiums and agents' balances in the course of
collection 2¹5ìì5 ¹29+3ì2 ¹Jìº59ì
13.2 Deferred premiums, agents' balances and installments booked but deferred
and not yet due J J J
13.3 Accrued retrospective premium J J J
14. Reinsurance:
14.1 Amounts recoverable from reinsurers J J J
14.2 Funds held by or deposited with reinsured companies J J J
14.3 Other amounts receivable under reinsurance contracts J J J
15. Amounts receivable relating to uninsured plans º339J9 ìJ2ºì ¸ìc3c22)
16.1Current federal and foreign income tax recoverable and interest thereon J J J
16.2Net deferred tax asset 399923c 5JJº9c¹ ¹JJ9ì25
17. Guaranty funds receivable or on deposit J J J
18. Electronic data processing equipment and software J J J
19. Furniture and equipment, including health care delivery assets J J J
20. Net adjustment in assets and liabilities due to foreign exchange rates J J J
21. Receivables from parent, subsidiaries and affiliates J 칺J39 칺J39
22. Health care and other amounts receivable 2cìJJ5ºJ ¹ì29J+c9 ¸9+¹J¹¹¹)
23. Aggregate write-ins for other than invested assets 9¹Jì+c2 ¹J¹5¹+2ì ¹J+39c5
24. Total assets excluding Separate Accounts, Segregated Accounts and
Protected Cell Accounts (Lines 10 to 23) +93c52J+ 3+533555 ¸¹+º3¹c+9)
25. From Separate Accounts, Segregated Accounts and Protected Cell Accounts J J J
26. Total (Lines 24 and 25) +93c52J+ 3+533555 ¸¹+º3¹c+9)
DETAILS OF WRITE-INS
0901.
0902.
0903.
0998. Summary of remaining write-ins for Line 9 from overflow page J J J
0999. Totals (Lines 0901 through 0903 plus 0998)(Line 9 above) J J J
2301. ´!|er |sse!s \cradª·!!ed 9¹Jì+c2 ¹J¹5¹+2ì ¹J+39c5
2302.
2303.
2398. Summary of remaining write-ins for Line 23 from overflow page J J J
2399. Totals (Lines 2301 through 2303 plus 2398)(Line 23 above) 9¹Jì+c2 ¹J¹5¹+2ì ¹J+39c5
16
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
EXHIBIT 1 - ENROLLMENT BY PRODUCT TYPE FOR HEALTH BUSINESS ONLY
Total Members at End of 6
Source of Enrollment
1
Prior Year
2
First Quarter
3
Second Quarter
4
Third Quarter
5
Current Year
Current Year
Member Months
1. Health Maintenance Organizations 32ºc9c 3¹22¹+ 3¹55ìì 3¹5+2ì 3¹+3¹J 3ìì+9cì
2. Provider Service Organizations J
3. Preferred Provider Organizations J
4. Point of Service J
5. Ìndemnity Only J
6. Aggregate write-ins for other lines of business J J J J J J
7. Total 32ºc9c 3¹22¹+ 3¹55ìì 3¹5+2ì 3¹+3¹J 3ìì+9cì
DETAILS OF WRITE-INS
0601.
0602.
0603.
0698. Summary of remaining write-ins for Line 6 from overflow page J J J J J J
0699. Totals (Lines 0601 through 0603 plus 0698) (Line 6 above) J J J J J J
1
7
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
EXHIBIT 2 - ACCIDENT AND HEALTH PREMIUMS DUE AND UNPAID
1
Name of Debtor
2
1 - 30 Days
3
31 - 60 Days
4
61 - 90 Days
5
Over 90 Days
6
Nonadmitted
7
Admitted
0199999 Total individuals ¹55ì¹5J ¹22ì59 ºJ¹5ìº cJ3J3 cJ3J3 2+º¹+ºì
Group subscribers:
0299997 Group subscriber subtotal J J J J J J
0299998 Premiums due and unpaid not individually listed 22º¹233 ¹329¹c+ +ì52¹9 ¹55+ì2 ¹55+ì2 +Jº5c¹c
0299999 Total group 22º¹233 ¹329¹c+ +ì52¹9 ¹55+ì2 ¹55+ì2 +Jº5c¹c
0399999 Premiums due and unpaid from Medicare entities ¹5J35552
0499999 Premiums due and unpaid from Medicaid entities ¹5J35552
0599999 Accident and health premiums due and unpaid (Page 2, Line 13) ¹ººì3935 ¹+5¹923 ¹2ìcì9ì 2¹5ìì5 2¹5ìì5 2¹cJ2c55
1
8
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
EXHIBIT 3 - HEALTH CARE RECEIVABLES
1
Name of Debtor
2
1 - 30 Days
3
31 - 60 Days
4
61 - 90 Days
5
Over 90 Days
6
Nonadmitted
7
Admitted
IndividuaIIy Listed ReceivabIes:
\edcc ++5+22+ +52¹553 +2229+c 2c5J95ºJ 2c5J95ºJ ¹3¹9ºì23
J¹9999º - |ççreça!e c! aªccr!s rc! ·rd·v·dca¹¹y ¹·s!ed a|cve ¹9¹JJJ ¹9¹JJJ
J¹99999 - ¯c!a¹s - ²|arªacec!·ca¹ re|a!e rece·va|¹es ++5+22+ +52¹553 +2229+c 2cìJJ5ºJ 2cìJJ5ºJ ¹3¹9ºì23
0799999 Gross health care receivables ++5+22+ +52¹553 +2229+c 2cìJJ5ºJ 2cìJJ5ºJ ¹3¹9ºì23
1
9
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
EXHIBIT 4 - CLAIMS UNPAID AND INCENTIVE POOL, WITHHOLD AND BONUS (Reported and Unreported)
Aging AnaIysis of Unpaid CIaims
1
Account
2
1 - 30 Days
3
31 - 60 Days
4
61 - 90 Days
5
91 - 120 Days
6
Over 120 Days
7
Total
CIaims Unpaid (Reported)
0199999 Ìndividually listed claims unpaid J J J J J J
0299999 Aggregate accounts not individually listed-uncovered J
0399999 Aggregate accounts not individually listed-covered J
0499999 Subtotals J J J J J J
0599999 Unreported claims and other claim reserves ¹59c3399¹
0699999 Total amounts withheld
0799999 Total claims unpaid ¹59c3399¹
0899999 Accrued medical incentive pool and bonus amounts 3552JJJ
2
0
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
EXHIBIT 5 - AMOUNTS DUE FROM PARENT, SUBSIDIARIES AND AFFILIATES
1 2 3 4 5 6 Admitted
Name of Affiliate 1 - 30 Days 31 - 60 Days 61 - 90 Days Over 90 Days Nonadmitted
7
Current
8
Non-Current
IndividuaIIy Listed ReceivabIes:
d·ç|ªar| ¹rc 2¹9ìc9+ì 2¹9ìc9+ì
cJJS +J2+J +J2+J
0199999 Ìndividually listed receivables 22J¹ì¹ºì J J J J 22J¹ì¹ºì J
0299999 Receivables not individually listed
0399999 Total gross amounts receivable 22J¹ì¹ºì J J J J 22J¹ì¹ºì J
2
1
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
EXHIBIT 6 - AMOUNTS DUE TO PARENT, SUBSIDIARIES AND AFFILIATES
1
Affiliate
2
Description
3
Amount
4
Current
5
Non-Current
d·ç|ªar| ¹rc ´¹a·ªs re·ª|crseªer! ard c!|er ¹33ì¹JJc ¹33ì¹JJc
Ja!e«ay dea¹!| ²¹ar ¹rc ¯aª·¹y ,¹arr·rç ¹¹325+º ¹¹325+º
0199999 Ìndividually listed payables ¹+5J355+ ¹+5J355+ J
0299999 Payables not individually listed
0399999 Total gross payables ¹+5J355+ ¹+5J355+ J
2
2
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
EXHIBIT 7 PART 1 - SUMMARY OF TRANSACTIONS WITH PROVIDERS
Payment Method
1
Direct Medical
Expense
Payment
2
Column 1
as a % of
Total Payments
3
Total
Members
Covered
4
Column 3
as a % of
Total Members
5
Column 1
Expenses Paid to
Affiliated Providers
6
Column 1
Expenses Paid to
Non-Affiliated Providers
Capitation Payments:
1. Medical groups 3ìììJ2cº ¹º 3¹+3¹J ¹JJJ 3ìììJ2cº
2. Ìntermediaries ¹¹9º¹339 Jc ¹ººJ59 59º ¹¹9º¹339
3. All other providers J JJ JJ
4. Total capitation payments +9ì5¹cJì 2+ 5J23c9 ¹59º J +9ì5¹cJì
Other Payments:
5. Fee-for-service J JJ XXX XXX
6. Contractual fee payments 2J5ì¹5º+ºJ 9ì3 XXX XXX 2J5ì¹5º+ºJ
7. Bonus/withhold arrangements - fee-for-service J JJ XXX XXX
8. Bonus/withhold arrangements - contractual fee payments ììì922¹ J+ XXX XXX ììì922¹
9. Non-contingent salaries J JJ XXX XXX
10. Aggregate cost arrangements J JJ XXX XXX
11. All other payments J JJ XXX XXX
12. Total other payments 2Jc+93ììJ¹ 9ìc XXX XXX J 2Jc+93ììJ¹
13. Total (Line 4 plus Line 12) 2¹¹+cº93Jº ¹JJ XXX XXX J 2¹¹+cº93Jº
EXHIBIT 7 - PART 2 - SUMMARY OF TRANSACTIONS WITH INTERMEDIARIES
1
NAÌC Code
2
Name of Ìntermediary
3
Capitation Paid
4
Average
Monthly
Capitation
5
Ìntermediary's
Total Adjusted Capital
6
Ìntermediary's
Authorized
Control Level RBC
9999999 Totals XXX XXX XXX
2
3
NONE
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
EXHIBIT 8 - FURNITURE, EQUIPMENT AND SUPPLIES OWNED
Description
1
Cost
2
Ìmprovements
3
Accumulated
Depreciation
4
Book Value Less
Encumbrances
5
Assets Not
Admitted
6
Net Admitted Assets
1. Administrative furniture and equipment
2. Medical furniture, equipment and fixtures
3. Pharmaceuticals and surgical supplies
4. Durable medical equipment
5. Other property and equipment
6. Total J J J J J J
2
4
NONE
ANNUAL STATEMENT FOR THE YEAR 2006OF THEKeystone HeaIth PIan West, Inc.
NOTES TO FINANCIAL STATEMENTS
HEALTH
Note # Description Page #
1 Summary of Significant Accounting Policies 25.1
2 Accounting Changes and Corrections of Errors 25.1
3 Business Combinations and Goodwill 25.1
4 Discontinued Operations 25.1
5 Ìnvestments 25.2
6 Joint Ventures, Partnerships and Limited Liability Companies 25.2
7 Ìnvestment Ìncome 25.2
8 Derivative Ìnstruments 25.2
9 Ìncome Taxes 25.3
10 Ìnformation Concerning Parent, Subsidiaries and Affiliates 25.4
11 Debt 25.5
12 Retirement Plans, Deferred Compensation, Postemployment Benefits and
Compensated Absences and Other Postretirement Benefit Plans 25.5
13 Capital and Surplus, Dividend Restrictions and Quasi-Reorganizations 25.5
14 Contingencies 25.5
15 Leases 25.5
16 Ìnformation About Financial Ìnstruments With Off-Balance Sheet Risk and Financial
Ìnstruments With Concentrations of Credit Risk 25.5
17 Sale, Transfer and Servicing of Financial Assets and Extinguishments of Liabilities 25.5
18 Gain or Loss to the Reporting Entity from Uninsured Plans and the Uninsured
Portion of Partially Ìnsured Plans 25.6
19 Direct Premium Written/Produced by Managing General Agents/Third Party
Administrators 25.6
20 September 11 Events 25.6
21 Other Ìtems 25.6
22 Events Subsequent 25.6
23 Reinsurance 25.6
24 Retrospectively Rated Contracts & Contracts Subject to Redetermination 25.6
25 Change in Ìncurred Losses 25.7
26 Ìntercompany Pooling 25.7
27 Structured Settlements 25.7
28 Health Care Receivables 25.7
29 Participating Policies 25.7
30 Premium Deficiency Reserves 25.7
31 Anticipated Salvage & Subrogation 25.7
25
ANNUAL STATEMENT FOR THE YEAR 2006OF THEKeystone HeaIth PIan West, Inc.
NOTES TO FINANCIAL STATEMENTS
Summary of Significant Accounting Policies 1.
A. Accounting Practices
The financial statements of Keystone Health Plan West, Ìnc. (the Corporation) are presented on the basis
of accounting practices prescribed by the Pennsylvania Ìnsurance Department (the Department). The
Department recognizes only statutory accounting practices prescribed or permitted by the Commonwealth
of Pennsylvania (Pennsylvania) for determining and reporting the financial condition and results of
operations of an insurance company and for determining its solvency under the Pennsylvania Ìnsurance
Law and Regulations. The National Association of Ìnsurance Commissioners' (NAÌC) Accounting Practices
and Procedures Manual (SAP) has been adopted as a component of prescribed or permitted practices by
Pennsylvania. The Pennsylvania Ìnsurance Commissioner (the Commissioner) has the right to permit
other specific practices that deviate from prescribed practices.
For the years ended December 31, 2006 and 2005, there were no differences between SAP and practices
prescribed or permitted by Pennsylvania that impact the Corporation's surplus.
B. Use of Estimates in the Preparation of the Statutory Financial Statements
The preparation of financial statements in conformity with SAP requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities. SAP also requires disclosure of
contingent assets and liabilities at the date of the statutory financial statements and the reported amounts
of revenue and expenses during the period. Actual results could differ from those estimates.
C. Accounting Policies
The Corporation prepares statutory financial statements in accordance with the following accounting
policies:
1. Short-term investments, including Class 1 and credit-exempt money market accounts, and securities
with a maturity of less than one year at date of purchase, are stated at fair value and included in cash
equivalents.
2. Bonds not backed by other loans are carried at amortized cost using the effective interest method.
3. Loan-backed securities are carried at amortized cost. The retrospective adjustment method is used to
value all such securities.
4. Other invested assets consists of a limited liability corporation (LLC) accounted for under the equity
method. Unaudited LLC investments are nonadmitted in the statutory financial statements.
5. Pharmacy rebates receivable are estimated based on actual prescriptions filled and the terms of the
rebate contracts for the most recent three months. For prior months, the Corporation records the actual
amounts that have been invoiced or confirmed in writing with the pharmaceutical companies.
6. The liability for claims unpaid is an actuarial estimate based on historical claims paid data modified for
current conditions and coverage changes. The methods used to determine the estimate of incurred but
not reported claims use past experience adjusted for current trends. The methods and assumptions
are continually reviewed and any resulting adjustments are included in current operations.
Corresponding administrative costs to process unreported claims are estimated and accrued.
7. A premium deficiency reserve (PDR) is established when the future claims expense and related
maintenance costs are expected to exceed future subscriber premiums and investment income of
contracts in force for a given line of business or product grouping within the contract period. A PDR is
recorded net of amortization and is included in aggregate policy reserves on the statutory balance sheet
and in underwriting expenses on the statutory statement of revenue and expenses.
8. The Corporation's revenues from operations consist of premium revenue on underwritten business.
The Corporation recognizes premiums ratably over the terms of the related insurance policy contract
period. Expenses incurred in connection with acquiring new insurance business, including acquisition
costs such as sales commissions, are charged to operations as incurred. The Corporation is not at risk
for the underwriting of the uninsured activity and, accordingly, records the revenue, claims expense and
administrative expenses on a net basis within general administration expenses.

9. Realized gains and losses on the sale of investments are determined using the specific identification
method and are included in the statutory statements of revenue and expenses.

25.1
ANNUAL STATEMENT FOR THE YEAR 2006OF THEKeystone HeaIth PIan West, Inc.
NOTES TO FINANCIAL STATEMENTS
Accounting Changes and Correction of Errors 2.
None.
Business Combinations and Goodwill 3.
Ìn August 2006, the Corporation acquired 100% of the equity of Union Benefit Management, Ìnc. (UBM) and
Employee Benefit Data Services Co. (EBDS) for a purchase price of $7,750,000. EBDS provides billing
services for Highmark and certain of its affiliates, and UBM and EBDS provide administration of employee
benefits and billing services for various government agencies and employer groups. Assets consisted of cash
and cash equivalents of $7,177,167, accounts receivable of $2,418,116, goodwill and other intangible assets of
$4,518,449, and property and equipment of $729,883, offset by liabilities acquired of $7,093,615.
Discontinued Operations 4.
None.
Ìnvestments 5.
A. Mortgage Loans
None.
Debt Restructuring B.
None.
Reverse Mortgages C.
None.
Loan-Backed Securities D.
The Corporation has no loan-backed securities that were acquired prior to January 1, 1994. The
Corporation has incurred no negative yield situations regarding the use of the retrospective adjustment
method.
Repurchase Agreements E.
None.
Joint Ventures, Partnerships and Limited Liability Companies 6.
The Corporation has no investment in joint ventures, partnerships or limited liability companies that exceed
10% of its admitted assets.
Ìnvestment Ìncome 7.
A. Basis for excluding due and accrued investment income from the statutory financial statements
Not Applicable.
Due and accrued income excluded from the Corporation's statutory surplus at December 31, 2006 B.
None.
Derivative Ìnvestments 8.
None.
25.2
ANNUAL STATEMENT FOR THE YEAR 2006OF THEKeystone HeaIth PIan West, Inc.
NOTES TO FINANCIAL STATEMENTS
Ìncome Taxes 9.
A. The tax effects of temporary differences that give rise to significant portions of deferred tax assets and
liabilities were as follows:
,2006 2005
Deferred tax assets:
Health care receivables $10,498,959 $8,488,032
Premiums received in advance 2,541,618 1,982,639
Other liabilities -0- 3,585,017
Aggregate health policy reserves 1,965,847 3,302,809
Discounting of claims unpaid 1,105,918 1,285,661
Municipal service agreement 1,382,500 1,520,750
Unrealized capital losses -0- 141,500
Ìnvestment in EBDS 3,009,827 -0-
Other 37,027 30,421
Total deferred tax assets $20,541,696 $20,336,829
Nonadmitted deferred tax assets (3,999,236) (5,008,961)
Admitted deferred tax assets $16,542,460 $15,327,868
Deferred tax liabilities:
Accrual of bond discount 266,856 39,943
Net admitted deferred tax asset $16,275,604 $15,287,925
Decrease in nonadmitted asset $(1,009,725) $(99,271)
The change in net deferred income taxes was comprised of the following (this analysis is exclusive of
nonadmitted assets as the Change in Nonadmitted Assets is reported separately from the Change in Net
Deferred Ìncome Taxes in the Capital and Surplus section of the Annual Statement):
2006 2005 Change
Total deferred tax assets $20,541,696 $20,336,829 204,867
Total deferred tax liabilities (266,856) (39,943) (226,913)
Net deferred tax asset $20,274,840 $20,296,886 (22,046)
Tax effect of unrealized losses 141,500
Change in net deferred income tax 119,454

The provision of $50,021,876 in 2006 and $29,150,194 in 2005 for incurred taxes on earnings included
only federal taxes incurred.
B. Deferred tax liabilities are not recognized for items used in SSAP 10, paragraph 6d.
C. The provision for federal and foreign income taxes incurred was different from that which would be
obtained by applying the statutory federal income tax rate before income taxes. The significant items
causing this difference were as follows:
2006 2005
Provision computed at statutory rate $55,485,934 $38,127,798
Change in temporary differences recorded directly to surplus (5,556,495) (3,415,130)
Decrease to tax exposure reserve (225,000) (25,000)
Other 197,983 697
$49,902,422 $34,688,365
Federal and foreign income taxes incurred $50,021,876 $29,150,194
Change in net deferred income tax asset (119,454) 5,538,171
Total statutory income taxes $49,902,422 $34,688,365
D. The significant book to tax adjustments are as follows:
Amount Tax Effect
Health care receivables $29,997,026 35.0%
Premiums received in advance 7,261,766 35.0%
Aggregate health policy reserves 5,616,706 35.0%
Discounting of claims unpaid 3,159,766 35.0%
Municipal service agreement 3,950,000 35.0%
Ìnvestment in EBDS 8,599,509 35.0%
Other 105,791 35.0%
E. As of December 31, 2006 the Corporation had no net operating loss carryovers
25.3
ANNUAL STATEMENT FOR THE YEAR 2006OF THEKeystone HeaIth PIan West, Inc.
NOTES TO FINANCIAL STATEMENTS
F. The Corporation is included in the consolidated federal income tax return with its parent company,
Highmark Ìnc. (Highmark) and all subsidiaries of Highmark in which Highmark holds 80% or more of the
outstanding ownership interests. A listing of most of these entities is provided in Schedule Y. The
Corporation has a written agreement, approved by the Corporation's Board of Directors, which sets forth
the manner in which the total combined federal income tax liability of the consolidated group is allocated
to each entity in the group. The agreement generally settles the consolidated federal tax liability as if
each subsidiary filed a separate income tax return. Federal income tax benefits resulting from losses
and credits are allocated to the entities generating such losses or credits to the extent such losses or
credits were used to reduce the consolidated federal income tax liability.
Ìnformation Concerning Parent, Subsidiaries and Affiliates 10.
Ìnformation Concerning Parent Company A.
The Corporation is a wholly owned subsidiary of Highmark, a professional health services plan and
hospital plan corporation domiciled in Pennsylvania. Highmark owns 75,000 shares of $1 par Class A
common stock and 75,000 shares of $1 par Class B common stock. Class A and Class B common stock
share equal voting rights. The excess of the purchase price over the par value of the stock was recorded
as paid-in capital. There were no dividends paid or accrued by the Corporation.
B, C & F Transactions with Related Parties
The Corporation has a management services agreement with Highmark to receive all of the financial,
investment, administrative and operational services required by the Corporation for operation. The
allocated cost of these services is included in general administrative expenses, cost containment
expenses, claims adjustment expenses and investment expenses as a component of net investment
income.
Highmark processes and pays all capitation and all facility and professional claims on behalf of the
Corporation. Claims and capitation paid by Highmark on behalf of the Corporation amounted to
$1,889,627,817 and $1,903,816,173 for 2006 and 2005, respectively.
D. Related Party Receivables and Payables
At December 31, 2006 and 2005, the admitted amounts due from related parties were $22,017,187 and
$24,792,779, respectively. These amounts consisted of premiums collected by Highmark on behalf of the
Corporation.
At December 31, 2006 and 2005, the amounts due to related parties were $14,503,554 and $6,074,233,
respectively. The amounts due for reimbursement of claims processed and paid by Highmark were
$13,326,095 and $5,389,041 at December 31, 2006 and 2005, respectively. Additionally, amounts due to
Highmark for administrative services performed by Highmark on behalf of the Corporation were
$17,585,271 and $4,477,899 at December 31, 2006 and 2005, respectively. These amounts were
classified as general expenses due or accrued due to the nature of the services performed.

E. Commitments and Contingencies
Highmark guarantees all customer-related contractual and financial obligations of the Corporation. The
unpaid claims liabilities of the Corporation at December 31, 2006 and 2005 were $159,633,991 and
$167,928,514, respectively.
G. Relationships with Enterprises under Common Ownership
None.
H. Amounts Deducted from Value of an Upstream Ìntermediate Entity
None.
Ì. Ìnvestments in SCA Entities that exceed 10% of Admitted Assets
None.
J. Ìmpairment in SCAs
None.
25.4
ANNUAL STATEMENT FOR THE YEAR 2006OF THEKeystone HeaIth PIan West, Inc.
NOTES TO FINANCIAL STATEMENTS
11. Debt
None.
12. Retirement Plans, Deferred Compensation, Postemployment Benefits and Compensated Absences and Other
Postretirement Benefit Plans
None.
13. Capital and Surplus, Dividend Restrictions and Quasi-Reorganizations
A. Capital Structure
The Corporation has 150,000 shares authorized, issued and outstanding. There are 75,000 Class A
common shares and 75,000 Class B common shares. The Corporation has no preferred stock authorized,
issued or outstanding. Dividend payments are subject to the approval of the Department. There are no
restrictions placed on the Corporation's surplus.
B. Surplus
The Corporation's cumulative net unrealized gains (losses) represent $821,599 and $(148,247) of surplus
at December 31, 2006 and 2005, respectively.
14. Contingencies
A. Contingent Commitments
Ìn August 2006, the Corporation recorded contingent liabilities of $2,325,000 related to the acquisition of
EBDS and UBM. These contingent liabilities consist of an obligation of $1,550,000 payable based on
EBDS and UBM achieving certain financial targets measured annually in July 2007 and 2008 and an
escrow of $775,000 payable in August 2008. These amounts were reported as other liabilities in the
statutory financial statements.
B. Assessments
None.
C. Gain Contingencies
None.
D. All Other Contingencies
The Corporation is subject to various contingencies, including legal and compliance actions and
proceedings that arise in the ordinary course of its business. Due to the complex nature of these actions
and proceedings, the timing of the ultimate resolution of these matters is uncertain. Ìn the opinion of
management, based on consultation with legal counsel, the amount of ultimate liability with respect to
these contingencies is not expected to materially affect the financial position of the Corporation.
15. Leases
None.
Ìnformation About Financial Ìnstruments with Off-Balance Sheet Risk and Financial Ìnstruments With 16.
Concentrations of Credit Risk
None.
Sale, Transfer and Servicing of Financial Assets and Extinguishments of Liabilities 17.
None.
25.5
ANNUAL STATEMENT FOR THE YEAR 2006OF THEKeystone HeaIth PIan West, Inc.
NOTES TO FINANCIAL STATEMENTS
18. Gains or Loss to the Reporting Entity from Uninsured Plans and the Uninsured Portion of Partially Ìnsured Plans
A. ASO Plans
None.
B. ASC Plans
The gain from operations from Cost Plus and Administrative Service Contract (ASC) uninsured plans for
the year ended December 31, 2006 was as follows:
A. Gross reimbursement for medical costs incurred $215,534,821
B. Gross administrative fees reimbursed 18,833,268
D. Gross expenses incurred (230,273,924)
E. Total net gain from operations $4,094,165
C. Medicare or Similarly Structured Cost Based Reimbursement Contract
None.
19. Direct Premium Written/Produced by Managing General Agents/Third Party Administrators
None.
20. September 11 Events
None.
21. Other Ìtems
A. Extraordinary Ìtems
None.
B. Troubled Debt Restructuring
None.
Other Disclosures C.
None.
D. Uncollectible Receivable Balances
At December 31, 2006 and 2005, the Corporation had admitted assets of $27,639,159 and $18,064,293,
respectively, in accounts receivable for insured and uninsured plans. The Corporation routinely assesses
the collectibility of these receivables. Based upon the Corporation's existence, less than one percent of
the balance may become uncollectible and the potential loss is not material to the Corporation's financial
condition.
E. Business Ìnterruption Ìnsurance Recoveries
None.
22. Events Subsequent
None.
23. Reinsurance
None.
24. Retrospectively Rated Contracts & Contracts Subject to Redetermination
None.
25.6
ANNUAL STATEMENT FOR THE YEAR 2006OF THEKeystone HeaIth PIan West, Inc.
NOTES TO FINANCIAL STATEMENTS
25. Change in Ìncurred Losses
Reserves for incurred claims and claim adjustment expenses attributable to insured events of prior years has
decreased by $33,365,168 and $537,246, respectively, as a result of re-estimation of unpaid claims and claim
adjustment expenses principally on the Medicare Advantage product. The re-estimation decrease is generally
the result of ongoing analysis of recent trends. Original estimates are increased or decreased as additional
information becomes known regarding individual claims.
26. Ìntercompany Pooling
None.
27. Structured Settlements
None.
28. Health Care Receivables
A. Pharmacy Rebates Receivable
The following is an analysis of insured and uninsured pharmacy rebates receivable for the previous three
years (Refer to Note 1.C.5):
Quarter
Ended
Estimated
Pharmacy
Rebates As
Reported
Pharmacy
Rebates As
Ìnvoiced
Actual Rebates
Collected Within
90 Days
Actual Rebates
Collected Within
91-180 Days
Actual Rebates
Collected More
Than 180 Days
12/31/06 $13,198,723 $8,790,350 $-0- $-0- $-0-
09/30/06 $15,130,717 $15,130,717 $-0- $-0- $-0-
06/30/06 $15,238,404 $15,238,404 $274,002 $3,585,540 $-0-
03/31/06 $14,170,251 $14,170,251 $623,237 $116,795 $13,430,219
12/31/05 $13,701,673 $13,701,673 $1,818,226 $97,975 $11,785,472
09/30/05 $11,548,826 $11,548,826 $2,075,866 $108,871 $9,364,089
06/30/05 $9,795,811 $9,795,811 $-0- $2,225,827 $7,569,984
03/31/05 $9,990,345 $9,990,345 $-0- $9,990,345 $-0-
12/31/04 $11,692,092 $11,692,092 $91,932 $1,391,394 $10,208,766
09/30/04 $7,492,923 $7,492,923 $1,584,240 $-0- $5,908,683
06/30/04 $9,729,813 $9,729,813 $-0- $9,729,813 $-0-
03/31/04 $10,029,757 $10,029,757 $-0- $10,029,757 $-0-
Risk Sharing Receivables B.
None.
29. Participating Policies
None.
30. Premium Deficiency Reserve
At December 31, 2006 and 2005, the Corporation had PDR liabilities on two of its managed care products in
the amount of $1,150,732 and $4,465,974, respectively. These PDR liabilities were recorded in aggregate
policy reserves in the statutory statements of liabilities, capital and surplus. The Corporation did not consider
anticipated investment income when calculating its PDRs.
31. Anticipated Salvage and Subrogation
Not applicable.
25.7
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SUMMARY INVESTMENT SCHEDULE
Gross
Ìnvestment Holdings
Admitted Assets as Reported
in the
Annual Statement
Ìnvestment Categories
1
Amount
2
Percentage
3
Amount
4
Percentage
1. Bonds:
1.1 U.S. treasury securities ì33J2ì35 ¹¹+3c ì33J2ì35 ¹¹59J
1.2 U.S. government agency obligations (excluding mortgage-backed
securities):
1.21 Ìssued by U.S. government agencies cJ9J¹ìJº 95J¹ cJ9J¹ìJº 9c29
1.22 Ìssued by U.S. government sponsored agencies ºì+º9+35 ¹3c5J ºì+º9+35 ¹3º33
1.3 Foreign government (including Canada, excluding mortgaged-backed
securities) 5c335+ JJºº 5c335+ JJº9
1.4 Securities issued by states, territories, and possessions and political
subdivisions in the U.S.:
1.41 States, territories and possessions general obligations JJJJ JJJJ
1.42 Political subdivisions of states, territories and possessions and
political subdivisions general obligations JJJJ JJJJ
1.43 Revenue and assessment obligations ºJJJJJJ ¹2+º ºJJJJJJ ¹2c5
1.44 Ìndustrial development and similar obligations JJJJ JJJJ
1.5 Mortgage-backed securities (includes residential and commercial
MBS):
1.51 Pass-through securities:
1.511 Ìssued or guaranteed by GNMA +¹55º39 Jc+º +¹55º39 Jc5ì
1.512 Ìssued or guaranteed by FNMA and FHLMC ºìJJJ29¹ ¹35ì3 ºìJJJ29¹ ¹3ì5c
1.513 All other JJJJ JJJJ
1.52 CMOs and REMÌCs:
1.521 Ìssued or guaranteed by GNMA, FNMA, FHLMC or VA ¹¹ìJc¹+9 ¹º2c ¹¹ìJc¹+9 ¹º5¹
1.522 Ìssued by non-U.S. Government issuers and
collateralized by mortgage-backed securities issued or
guaranteed by agencies shown in Line 1.521 ¹ììcJ5J5 2ìì¹ ¹ììcJ5J5 2ºJº
1.523 All other JJJJ JJJJ
2. Other debt and other fixed income securities (excluding short-term):
2.1 Unaffiliated domestic securities (includes credit tenant loans rated by the
SVO) 92¹¹º¹2J ¹+3ì2 92¹¹º¹2J ¹+5c5
2.2 Unaffiliated foreign securities 5ì5¹JJ+ Jº9ì 5ì5¹JJ+ J9J9
2.3 Affiliated securities JJJJ JJJJ
3. Equity interests:
3.1 Ìnvestments in mutual funds JJJJ JJJJ
3.2 Preferred stocks:
3.21 Affiliated JJJJ JJJJ
3.22 Unaffiliated JJJJ JJJJ
3.3 Publicly traded equity securities (excluding preferred stocks):
3.31 Affiliated JJJJ JJJJ
3.32 Unaffiliated JJJJ JJJJ
3.4 Other equity securities:
3.41 Affiliated ¹25º2ì JJ2J JJJJ
3.42 Unaffiliated JJJJ JJJJ
3.5 Other equity interests including tangible personal property under lease:
3.51 Affiliated JJJJ JJJJ
3.52 Unaffiliated JJJJ JJJJ
4. Mortgage loans:
4.1 Construction and land development JJJJ JJJJ
4.2 Agricultural JJJJ JJJJ
4.3 Single family residential properties JJJJ JJJJ
4.4 Multifamily residential properties JJJJ JJJJ
4.5 Commercial loans JJJJ JJJJ
4.6 Mezzanine real estate loans JJJJ JJJJ
5. Real estate investments:
5.1 Property occupied by the company JJJJ J JJJJ
5.2 Property held for the production of income (including
$ of property acquired in satisfaction of debt) JJJJ J JJJJ
5.3 Property held for sale (including $ property
acquired in satisfaction of debt) JJJJ J JJJJ
6. Contract loans JJJJ J JJJJ
7. Receivables for securities ¹ìº3º3 JJ2º ¹ìº3º3 JJ2º
8. Cash, cash equivalents and short-term investments ¹º3535J3º 2ºc3+ ¹º3535J3º 29J¹9
9. Other invested assets º3º2+¹5 ¹3Jº JJJJ
10. Total invested assets c+J9ìJºJ3 ¹JJJJJ c32+c25c¹ ¹JJJJJ
26
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
GENERAL INTERROGATORIES
PART 1 - COMMON INTERROGATORIES
GENERAL
1.1 Ìs the reporting entity a member of an Ìnsurance Holding Company System consisting of two or more affiliated persons, one or more of which
is an insurer? \es | \ | \c | |
1.2 Ìf yes, did the reporting entity register and file with its domiciliary State Ìnsurance Commissioner, Director or Superintendent, or with such
regulatory official of the state of domicile of the principal insurer in the Holding Company System, a registration statement providing
disclosure substantially similar to the standards adopted by the National Association of Ìnsurance Commissioners (NAÌC) in its Model
Ìnsurance Holding Company System Regulatory Act and model regulations pertaining thereto, or is the reporting entity subject to
standards and disclosure requirements substantially similar to those required by such Act and regulations? \es | | \c | | \| | \ |
1.3
State Regulating?
¯|e ´cªªcr«ea¹!| c!
²errsy¹var·a
2.1 Has any change been made during the year of this statement in the charter, by-laws, articles of incorporation, or deed of settlement of the
reporting entity? \es | | \c | \ |
2.2 Ìf yes, date of change:
3.1 State as of what date the latest financial examination of the reporting entity was made or is being made. ¹2:3¹:2JJc
3.2 State the as of date that the latest financial examination report became available from either the state of domicile or the reporting entity. This
date should be the date of the examined balance sheet and not the date the report was completed or released. ¹2:3¹:2JJ¹
3.3 State as of what date the latest financial examination report became available to other states or the public from either the state of domicile or
the reporting entity. This is the release date or completion date of the examination report and not the date of the examination (balance sheet
date). J2:Jì:2JJ+
3.4 By what department or departments? The Pennsylvania Ìnsurance Department
4.1 During the period covered by this statement, did any agent, broker, sales representative, non-affiliated sales/service organization or any
combination thereof under common control (other than salaried employees of the reporting entity), receive credit or commissions for or control
a substantial part (more than 20 percent of any major line of business measured on direct premiums) of:
4.11 sales of new business? \es | | \c | \ |
4.12 renewals? \es | | \c | \ |
4.2 During the period covered by this statement, did any sales/service organization owned in whole or in part by the reporting entity or an affiliate,
receive credit or commissions for or control a substantial part (more than 20 percent of any major line of business measured on direct
premiums) of:
4.21 sales of new business? \es | | \c | \ |
4.22 renewals? \es | | \c | \ |
5.1 Has the reporting entity been a party to a merger or consolidation during the period covered by this statement? \es | | \c | \ |
5.2 Ìf yes, provide the name of the entity, NAÌC Company Code, and state of domicile (use two letter state abbreviation) for any entity that has
ceased to exist as a result of the merger or consolidation.
1
Name of Entity
2
NAÌC Company Code
3
State of Domicile
6.1 Has the reporting entity had any Certificates of Authority, licenses or registrations (including corporate registration, if applicable) suspended or
revoked by any governmental entity during the reporting period? \es | | \c | \ |
6.2 Ìf yes, give full information
7.1 Does any foreign (non-United States) person or entity directly or indirectly control 10% or more of the reporting entity? \es | | \c | \ |
7.2 Ìf yes,
7.21 State the percentage of foreign control;
7.22 State the nationality(s) of the foreign person(s) or entity(s) or if the entity is a mutual or reciprocal, the nationality of its
manager or attorney in fact; and identify the type of entity(s) (e.g., individual, corporation or government, manager or
attorney in fact).
1
Nationality
2
Type of Entity
27
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
GENERAL INTERROGATORIES
8.1 Ìs the company a subsidiary of a bank holding company regulated by the Federal Reserve Board? \es | | \c | \ |
8.2 Ìf response to 8.1 is yes, please identify the name of the bank holding company.
8.3 Ìs the company affiliated with one or more banks, thrifts or securities firms? \es | | \c | \ |
8.4 Ìf response to 8.3 is yes, please provide the names and location (city and state of the main office) of any affiliates regulated by a federal
financial regulatory services agency [i.e. the Federal Reserve Board (FRB), the Office of the Comptroller of the Currency (OCC), the Office of
Thrift Supervision (OTS), the Federal Deposit Ìnsurance Corporation (FDÌC) and the Securities Exchange Commission (SEC) and identify
the affiliate's primary federal regulator.]
1
Affiliate Name
2
Location
(City, State)
3
FRB
4
OCC
5
OTS
6
FDÌC
7
SEC
9. What is the name and address of the independent certified public accountant or accounting firm retained to conduct the annual audit?
PriceWaterhouseCoopers LLP, 600 Grant Street, Pittsburgh, PA 15219
10. What is the name, address and affiliation (officer/employee of the reporting entity or actuary/consultant associated with an actuarial consulting
firm) of the individual providing the statement of actuarial opinion/certification?
Robert F. Macagnano, FSA, AAA, PriceWaterhouseCoopers LLP, 400 Campus Drive, Florham Park, NJ 07932
11.1 Does the reporting entity own any securities of a real estate holding company or otherwise hold real estate indirectly? \es | | \c | \ |
11.11 Name of real estate holding company
11.12 Number of parcels involved
11.13 Total book/adjusted carrying value $
11.2 Ìf yes, provide explanation
12. FOR UNÌTED STATES BRANCHES OF ALÌEN REPORTÌNG ENTÌTÌES ONLY:
12.1 What changes have been made during the year in the United States Manager or the United States Trustees of the reporting entity?
12.2 Does this statement contain all business transacted for the reporting entity through its United States Branch on risks wherever located? \es | | \c | |
12.3 Have there been any changes made to any of the trust indentures during the year? \es | | \c | |
12.4 Ìf answer to (12.3) is yes, has the domiciliary or entry state approved the changes? \es | | \c | | \| | |
BOARD OF DIRECTORS
13. Ìs the purchase or sale of all investments of the reporting entity passed upon either by the board of directors or a subordinate committee
thereof? \es | \ | \c | |
14. Does the reporting entity keep a complete permanent record of the proceedings of its board of directors and all subordinate committees
thereof? \es | \ | \c | |
15. Has the reporting entity an established procedure for disclosure to its board of directors or trustees of any material interest or affiliation on the
part of any of its officers, directors, trustees or responsible employees that is in conflict or likely to conflict with the official duties of such
person? \es | \ | \c | |
FINANCIAL
16.1 Total amount loaned during the year (inclusive of Separate Accounts, exclusive of policy loans): 16.11 To directors or other officers $
16.12 To stockholders not officers $
16.13 Trustees, supreme or grand
(Fraternal only) $
16.2 Total amount of loans outstanding at end of year (inclusive of Separate Accounts, exclusive of policy
loans): 16.21 To directors or other officers $
16.22 To stockholders not officers $
16.23 Trustees, supreme or grand
(Fraternal only) $
17.1 Were any of the assets reported in this statement subject to a contractual obligation to transfer to another party without the liability for such
obligation being reported in this statement? \es | | \c | \ |
17.2 Ìf yes, state the amount thereof at December 31 of the current year: 17.21 Rented from others $
17.22 Borrowed from others $
17.23 Leased from others $
17.24 Other $
18.1 Does this statement include payments for assessments as described in the Annual Statement Instructions other than guaranty fund or
guaranty association assessments? \es | | \c | \ |
18.2 Ìf answer is yes, 18.21 Amount paid as losses or risk adjustment $
18.22 Amount paid as expenses $
18.23 Other amounts paid $
19.1 Does the reporting entity report any amounts due from the parent, subsidiaries or affiliates on Page 2 of this statement? \es | \ | \c | |
19.2 Ìf yes, indicated any amounts receivable from parent included in the Page 2 amount: $ 22J¹ì¹ºì
27.1
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
GENERAL INTERROGATORIES
INVESTMENT
20.1 Were all the stocks, bonds and other securities owned December 31 of current year, over which the reporting entity has exclusive control, in
the actual possession of the reporting entity on said date, except as shown by Schedule E - Part 3 - Special Deposits? \es | \ | \c | |
20.2 Ìf no, give full and complete information relating thereto:
21.1 Were any of the stocks, bonds or other assets of the reporting entity owned at December 31 of the current year not exclusively under the
control of the reporting entity, except as shown on the Schedule E - Part 3 - Special Deposits, or has the reporting entity sold or transferred
any assets subject to a put option contract that is currently in force? (Exclude securities subject to Ìnterrogatory 17.1) \es | \ | \c | |
21.2 Ìf yes, state the amount thereof at December 31 of the current year: 21.21 Loaned to others $ ¹º5Jì525
21.22 Subject to repurchase agreements $
21.23 Subject to reverse repurchase agreements $
21.24 Subject to dollar repurchase agreements $
21.25 Subject to reverse dollar repurchase agreements $
21.26 Pledged as collateral $
21.27 Placed under option agreements $
21.28 Letter stock or other securities restricted as to sale $
21.29 Other $
21.3 For category (21.28) provide the following:
1
Nature of Restriction
2
Description
3
Amount
22.1 Does the reporting entity have any hedging transactions reported on Schedule DB? \es | | \c | \ |
22.2 Ìf yes, has a comprehensive description of the hedging program been made available to the domiciliary state? \es | | \c | | \| | \ |
Ìf no, attach a description with this statement.
23.1 Were any preferred stocks or bonds owned as of December 31 of the current year mandatorily convertible into equity, or, at the option of the
issuer, convertible into equity? \es | | \c | \ |
23.2 Ìf yes, state the amount thereof at December 31 of the current year. $
27.2
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
GENERAL INTERROGATORIES
24. Excluding items in Schedule E, real estate, mortgage loans and investments held physically in the reporting entity's offices, vaults or safety
deposit boxes, were all stocks, bonds and other securities, owned throughout the current year held pursuant to a custodial agreement with a
qualified bank or trust company in accordance with Part 1 ÷ General, Section ÌV.H-Custodial or Safekeeping Agreements of the NAÌC
Financial Condition Examiners Handbook? \es | | \c | \ |
24.01 For agreements that comply with the requirements of the NAÌC Financial Condition Examiners Handbook, complete the following:
1
Name of Custodian(s)
2
Custodian's Address
\e¹¹cr ¯·rarc·a¹ Serv·ces ´re \e¹¹cr ´er!er ¯ccª ¹J35 ²·!!s|crç| ²| ¹52¹9
²\´ |dv·scrs c2J |·|er!y |verce ²·!!s|crç| ²| ¹5222
24.02 For all agreements that do not comply with the requirements of the NAÌC Financial Condition Examiners Handbook, provide the name,
location and a complete explanation:
1
Name(s)
2
Location(s)
2
Complete Explanation(s)
24.03 Have there been any changes, including name changes, in the custodian(s) identified in 24.01 during the current year? \es | | \c | \ |
24.04 Ìf yes, give full and complete information relating thereto:
1
Old Custodian
2
New Custodian
3
Date of
Change
4
Reason
24.05 Ìdentify all investment advisors, brokers/dealers or individuals acting on behalf of broker/dealers that have access to the investment
accounts, handle securities and have authority to make investments on behalf of the reporting entity:
1
Central Registration Depository Number(s)
2
Name
2
Address
¹J5325 ¯edera!ed ¹rves!crs ´ccrse¹·rç
¯edera!ed ¯c«er ¹JJ¹ |·|er!y |verce
²·!!s|crç| ²| ¹5222
¯c¹!cr ¯·rarc·a¹ |dv·scrs ´re ²err S(care |arcas!er ²| ¹ìcJ2
25.1 Does the reporting entity have any diversified mutual funds reported in Schedule D, Part 2 (diversified according to the Securities and
Exchange Commission (SEC) in the Ìnvestment Company Act of 1940 [Section 5 (b) (1)])? \es | | \c | \ |
25.2 Ìf yes, complete the following schedule:
1
CUSÌP #
2
Name of Mutual Fund
3
Book/Adjusted Carrying Value
25.2999 TOTAL J
25.3 For each mutual fund listed in the table above, complete the following schedule:
1
Name of Mutual Fund
(from above table)
2
Name of Significant Holding
Of the Mutual Fund
3
Amount of Mutual Fund's
Book/Adjusted Carrying Value
Attributable to the Holding
4
Date of Valuation
27.3
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
GENERAL INTERROGATORIES
26. Provide the following information for all short-term and long-term bonds and all preferred stocks. Do not substitute amortized value or
statement value for fair value.
1
Statement (Admitted)
Value
2
Fair Value
3
Excess of Statement
over Fair Value (-)
or Fair Value
over Statement (+)
26.1 Bonds c3¹¹33º¹+ c3¹¹55¹3º 2¹32+
26.2 Preferred stocks J J
26.3 Totals c3¹¹33º¹+ c3¹¹55¹3º 2¹32+
26.4 Describe the sources or methods utilized in determining fair values:
The fair values are the SVO values or the market values from the custodian banks.
27.1 Have all the filing requirements of the Purposes and Procedures Manual of the NAÌC Securities Valuation Office been followed? \es | \ | \c | |
27.2 Ìf no, list the exceptions:
OTHER
28.1 Amount of payments to trade associations, service organizations and statistical or rating bureaus, if any? $ ìJºì2º
28.2 List the name of the organization and the amount paid if any such payment represented 25% or more of the total payments to trade
associations, service organizations and statistical or rating bureaus during the period covered by this statement.
1
Name
2
Amount Paid
J¹ce ´rcss J¹ce S|·e¹d |sscc·a!·cr 5+º3ºì
29.1 Amount of payments for legal expenses, if any? $ ìì9cì9
29.2 List the name of the firm and the amount paid if any such payment represented 25% or more of the total payments for legal expenses during
the period covered by this statement.
1
Name
2
Amount Paid
30.1 Amount of payments for expenditures in connection with matters before legislative bodies, officers or departments of government, if any? $
30.2 List the name of the firm and the amount paid if any such payment represented 25% or more of the total payment expenditures in connection
with matters before legislative bodies, officers or departments of government during the period covered by this statement.
1
Name
2
Amount Paid
27.4
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
GENERAL INTERROGATORIES
PART 2 - HEALTH INTERROGATORIES
1.1 Does the reporting entity have any direct Medicare Supplement Ìnsurance in force? \es | | \c | \ |
1.2 Ìf yes, indicate premium earned on U. S. business only $
1.3 What portion of Ìtem (1.2) is not reported on the Medicare Supplement Ìnsurance Experience Exhibit? $
1.31 Reason for excluding
1.4 Ìndicate amount of earned premium attributable to Canadian and/or Other Alien not included in Ìtem (1.2) above. $
1.5 Ìndicate total incurred claims on all Medicare Supplement insurance. $
1.6 Ìndividual policies:
Most current three years:
1.61 Total premium earned $ J
1.62 Total incurred claims $ J
1.63 Number of covered lives J
All years prior to most current three years:
1.64 Total premium earned $ J
1.65 Total incurred claims $ J
1.66 Number of covered lives J
1.7 Group policies:
Most current three years:
1.71 Total premium earned $ J
1.72 Total incurred claims $ J
1.73 Number of covered lives J
All years prior to most current three years:
1.74 Total premium earned $ J
1.75 Total incurred claims $ J
1.76 Number of covered lives J
2. Health Test:
1
Current Year
2
Prior Year
2.1 Premium Numerator $ 2+J9ìºc+º2 $ 22++2¹cJ¹9
2.2 Premium Denominator $ 2+J9ìºc+º2 $ 22++2¹cJ¹9
2.3 Premium Ratio (2.1/2.2) ¹JJJ ¹JJJ
2.4 Reserve Numerator $ ¹cººJ2c9ì $ ¹ìì3c5¹¹J
2.5 Reserve Denominator $ ¹cººJ2c9ì $ ¹ìì3c5¹¹J
2.6 Reserve Ratio (2.4/2.5) ¹JJJ ¹JJJ
3.1 Has the reporting entity received any endowment or gift from contracting hospitals, physicians, dentists, or others that is agreed will be
returned when, as and if the earnings of the reporting entity permits? \es | | \c | \ |
3.2 Ìf yes, give particulars:
4.1 Have copies of all agreements stating the period and nature of hospitals', physicians', and dentists' care offered to subscribers and
dependents been filed with the appropriate regulatory agency? \es | \ | \c | |
4.2 Ìf not previously filed, furnish herewith a copy(ies) of such agreement(s). Do these agreements include additional benefits offered? \es | \ | \c | |
5.1 Does the reporting entity have stop-loss reinsurance? \es | | \c | \ |
5.2 Ìf no, explain:
The Corporation's financial position is stron enough to allow for the absorption of catastrophic claims. Also, Highmark Ìnc. guarantees all
contractual and financial obligations of the Corporation.
5.3 Maximum retained risk (see instructions) 5.31 Comprehensive Medical $
5.32 Medical Only $
5.33 Medicare Supplement $
5.34 Dental $
5.35 Other Limited Benefit Plan $
5.36 Other $
6. Describe arrangement which the reporting entity may have to protect subscribers and their dependents against the risk of insolvency including
hold harmless provisions, conversion privileges with other carriers, agreements with providers to continue rendering services, and any
other agreements:
Conversion to individual Blue Cross Blue Shield is available. Hospital and physician agreements contain hold-harmless provisions in the
event of insolvency. Highmark Ìnc. guarantees all contractual and financial obligations of the Corporation.
7.1 Does the reporting entity set up its claim liability for provider services on a service date base? \es | \ | \c | |
7.2 Ìf no, give details:
8. Provide the following information regarding participating providers:
8.1 Number of providers at start of reporting year ¹cJºì
8.2 Number of providers at end of reporting year ¹c5+c
9.1 Does the reporting entity have business subject to premium rate guarantees? \es | \ | \c | |
9.2 Ìf yes, direct premium earned:
9.21 Business with rate guarantees between 15-36 months ¹932¹º9º
9.22 Business with rate guarantees over 36 months J
28
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
GENERAL INTERROGATORIES
10.1 Does the reporting entity have Ìncentive Pool, Withhold or Bonus Arrangements in its provider contract? \es | \ | \c | |
10.2 Ìf yes:
10.21 Maximum amount payable bonuses $ ¹¹33¹22J
10.22 Amount actually paid for year bonuses $ ììì922J
10.23 Maximum amount payable withholds $ J
10.24 Amount actually paid for year withholds $ J
11.1 Ìs the reporting entity organized as:
11.12 A Medical Group/Staff Model, \es | | \c | \ |
11.13 An Ìndividual Practice Association (ÌPA), or, \es | \ | \c | |
11.14 A Mixed Model (combination of above) ? \es | | \c | \ |
11.2 Ìs the reporting entity subject to Minimum Net Worth Requirements? \es | \ | \c | |
11.3
Ìf yes, show the name of the state requiring such net worth.
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²errsy¹var·a
11.4 Ìf yes, show the amount required. $ ¹JJJJJJ
11.5 Ìs this amount included as part of a contingency reserve in stockholder's equity? \es | | \c | \ |
11.6 Ìf the amount is calculated, show the calculation.
12. List service areas in which reporting entity is licensed to operate:
1
Name of Service Area
|¹¹eç|ery |rªs!rcrç Jeaver Jed!crd J¹a·r
Jc!¹er ´aª|r·a ´aªercr ´¹ear!·e¹d ´¹ar·cr
´ra«!crd cr·e c¹| ¯aye!!e ¯cres! Jreere
dcr!·rç!cr ¹rd·ara .e!!erscr |a«rerce
\c/ear \ercer ²c!!er \erarçc Scªerse!
larrer las|·rç!cr les!ªcre¹ard ´ccr!·es ²|
28.1
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
FIVE-YEAR HISTORICAL DATA
1
2006
2
2005
3
2004
4
2003
5
2002
BaIance Sheet (Pages 2 and 3)
1. Total admitted assets (Page 2, Line 26) ì22c¹¹+3J 5ºc52¹¹+3 cºJcìJJ¹ì cJì3+29c+ 5ºº+ì222J
2. Total liabilities (Page 3, Line 22) 3J+c59999 2c3¹ºº+ì9 +J¹ìì9Jc2 39+2Jì399 3ì59J5ì59
3. Statutory surplus ¹JJJJJJ ¹JJJJJJ ¹JJJJJJ ¹JJJJJJ ¹JJJJJJ
4. Total capital and surplus (Page 3, Line 31) +¹ì95¹+3¹ 323332cc+ 25ºº9J955 2¹3¹355c5 2¹25cc+c¹
Income Statement (Page 4)
5. Total revenues (Line 8) 2+J9ìºc+º2 22++2¹cJ¹9 2Jì+J++¹c5 ¹9ì35+22c+ ¹º22º2+95+
6. Total medical and hospital expenses (Line 18) 2¹Jº5º+c23 2J¹¹c3¹2J9 ¹ºcc¹5¹3cº ¹º3Jì¹¹3º9 ¹cì¹cc925º
7. Claims adjustment expenses (Line 20) º+Jìì+c9 ìJ55Jc3c c2ì3+3c+ c2c32ì95 3º2º9cº+
8. Total administrative expenses (Line 21) 932+c95c ì+ìì+222 º¹Jì+3+2 ì9º+c93¹ 99ì93953
9. Net underwriting gain (loss) (Line 24) ¹2ìc9ì32+ ºì32335c 5+5º+J9¹ 35¹¹+9 ¹3Jì2J59
10. Net investment gain (loss) (Line 27) 3Jì캹5J 2¹+Jº¹ºì ¹5+¹J5cJ ¹ì¹23++9 2JJc9329
11. Total other income (Lines 28 plus 29) 55ìc5 2J5J23 ¸3º2¹++¹) ¸25ìJ533) ¸+J++¹+º)
12. Net income (loss) (Line 32) ¹Jº5J93c3 ì9ìºc3ì2 3ºìº99ìì ììJ255+ ¹ìJìºJº¹
Risk - Based CapitaI AnaIysis
13. Total adjusted capital +¹ì95¹+3¹ 323332cc+ 25ºº9J955 2¹3¹355c5 2¹25cc+c¹
14. Authorized control level risk-based capital ºJ9cº9+c ìcº29+ì9 ì¹¹+5¹+ì c9ì93J55 c33c9+¹ì
EnroIIment (Exhibit 1)
15. Total members at end of period (Column 5, Line 7) 3¹+3¹J 32ºc9c 33+¹59 3ì55º¹ +¹J5J+
16. Total member months (Column 6, Line 7) 3ìì+9cì 39c2+Jì +Jc¹2¹3 +5955º2 +ì25ccì
Operating Percentage (Page 4)
(Ìtem divided by Page 4, sum of Lines 2, 3 and 5) x 100.0
17. Premiums earned plus risk revenue (Line 2 plus Lines 3
and 5) ¹JJJ ¹JJJ ¹JJJ ¹JJJ ¹JJJ
18. Total hospital and medical plus other non-health (Lines
18 plus 19) ºì5 º9c 9JJ 92º 9¹ì
19. Cost containment expenses ¹2 ¹3 ¹J XXX XXX
20. Other claims adjustment expenses 23 ¹9 2J JJ JJ
21. Total underwriting deductions (Line 23) 9+ì 9c¹ 9ì+ ¹JJJ 993
22. Total underwriting gain (loss) (Line 24) 53 39 2º JJ Jì
Unpaid CIaims AnaIysis
(U&Ì Exhibit, Part 2B)
23. Total claims incurred for prior years (Line 13, Col. 5) ¹35+¹+3+c ¹J292+95ì ¹ºJìc¹ìcì ¹º523ºº+¹ ¹5++c+º3J
24. Estimated liability of unpaid claims ÷ [prior year (Line 13,
Col. 6)] ¹+2Jº5¹3+ ¹+¹º2º9º9 ¹932ì93cì ¹9º¹ººº+2 ¹c2¹c+º3J
Investments In Parent, Subsidiaries And AffiIiates
25. Affiliated bonds (Sch. D Summary, Line 25, Col. 1) J J J J J
26. Affiliated preferred stocks (Sch. D Summary, Line 39,
Col. 1) J J J J J
27. Affiliated common stocks (Sch. D Summary, Line 53,
Col. 2) ¹25º2ì J J J J
28. Affiliated short-term investments (subtotal included in
Sch. DA, Part 2, Col. 5, Line 11) J J J J J
29. Affiliated mortgage loans on real estate J J J J
30. All other affiliated J J J J
31. Total of above Lines 25 to 30 ¹25º2ì J J J J
29
3[H$NMJ$$#Nm$m[H$$3
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
EXHIBIT OF PREMIUMS, ENROLLMENT AND UTILIZATION (a)
REPORT FOR: 1. CORPORATÌON Keystone Health Plan West, Ìnc. 2. Western Pennsylvania
(LOCATÌON)
NAÌC Group Code 0812 BUSÌNESS ÌN THE STATE OF Pennsylvania DURÌNG THE YEAR 2006 NAÌC Company Code 95048
1
Comprehensive
(Hospital & Medical) 4 5 6 7 8 9 10 11 12 13
Total
2
Ìndividual
3
Group
Medicare
Supplement
Vision
Only
Dental
Only
Federal
Employees
Health Benefit
Plan
Title XVÌÌÌ
Medicare
Title XÌX
Medicaid
Stop
Loss
Disability
Ìncome
Long-Term
Care Other
TotaI Members at end of:
1. Prior Year 32ºc9c ì5¹52 cì3¹J ¹ºc23+
2 First Quarter 3¹22¹+ ìì¹+5 5J5c9 ¹º+5JJ
3 Second Quarter 3¹55ìì ºJ2Jº +92ì9 ¹ºcJ9J
4. Third Quarter 3¹5+2ì º2552 ++ccc ¹ºº2J9
5. Current Year 3¹+3¹J º2c3c +3c¹5 ¹ººJ59
6 Current Year Member Months 3ìì+9cì 9ì¹c5J 5cº¹ì9 2235¹3º
TotaI Member AmbuIatory Encounters for Year:
7. Physician 35c+¹ºì 53ì99ì 3J95J3 2ì¹ccºì
8. Non-Physician ¹2¹9º9ì ¹9cì53 ¹2239ì 9JJì+ì
9. Total +ìº+Jº+ ì3+ì5J +3¹9JJ J J J J 3c¹ì+3+ J J J J J
10. Hospital Patient Days Ìncurred ì955º2 29c3J ¹5529 ì5J+23
11. Number of Ìnpatient Admissions 9º2ì9 ì¹ì3 3c2¹ ºì+º5
12. Health Premiums Written 2+J9ìºc+º2 ¹9ì+ìc5cJ ¹ºJ39¹+¹+ 2J3¹9¹º5Jº
13. Life Premiums Direct J
14. Property/Casualty Premiums Written J
15. Health Premiums Earned 2+J9ìºc+º2 ¹9ì+ìc5cJ ¹ºJ39¹+¹+ 2J3¹9¹º5Jº
16. Property/Casualty Premiums Earned J
17. Amount Paid for Provision of Health Care Services 2¹¹+cº93Jº ¹ì3º9J3J3 ¹5+3¹ìJ3ì ¹ìºc+º¹9cº
18. Amount Ìncurred for Provision of Health Care Services 2¹Jº5º+c23 ¹ì5+Jºc¹º ¹5¹Jì¹9¹¹ ¹ìº2¹J+J9+
(a) For health business: number of persons insured under PPO managed care products 0 and number of persons under indemnity only products 0
3
0
.
P
A
3[H$NMJ$$#Nm$H[H$$3
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
EXHIBIT OF PREMIUMS, ENROLLMENT AND UTILIZATION (a)
REPORT FOR: 1. CORPORATÌON Keystone Health Plan West, Ìnc. 2. Western Pennsylvania
(LOCATÌON)
NAÌC Group Code 0812 BUSÌNESS ÌN THE STATE OF Consolidated DURÌNG THE YEAR 2006 NAÌC Company Code 95048
1
Comprehensive
(Hospital & Medical) 4 5 6 7 8 9 10 11 12 13
Total
2
Ìndividual
3
Group
Medicare
Supplement
Vision
Only
Dental
Only
Federal
Employees
Health Benefit
Plan
Title XVÌÌÌ
Medicare
Title XÌX
Medicaid
Stop
Loss
Disability
Ìncome
Long-Term
Care Other
TotaI Members at end of:
1. Prior Year 32ºc9c ì5¹52 cì3¹J J J J J ¹ºc23+ J J J J J
2 First Quarter 3¹22¹+ ìì¹+5 5J5c9 J J J J ¹º+5JJ J J J J J
3 Second Quarter 3¹55ìì ºJ2Jº +92ì9 J J J J ¹ºcJ9J J J J J J
4. Third Quarter 3¹5+2ì º2552 ++ccc J J J J ¹ºº2J9 J J J J J
5. Current Year 3¹+3¹J º2c3c +3c¹5 J J J J ¹ººJ59 J J J J J
6 Current Year Member Months 3ìì+9cì 9ì¹c5J 5cº¹ì9 J J J J 2235¹3º J J J J J
TotaI Member AmbuIatory Encounters for Year:
7. Physician 35c+¹ºì 53ì99ì 3J95J3 J J J J 2ì¹ccºì J J J J J
8. Non-Physician ¹2¹9º9ì ¹9cì53 ¹2239ì J J J J 9JJì+ì J J J J J
9. Total +ìº+Jº+ ì3+ì5J +3¹9JJ J J J J 3c¹ì+3+ J J J J J
10. Hospital Patient Days Ìncurred ì955º2 29c3J ¹5529 J J J J ì5J+23 J J J J J
11. Number of Ìnpatient Admissions 9º2ì9 ì¹ì3 3c2¹ J J J J ºì+º5 J J J J J
12. Health Premiums Written 2+J9ìºc+º2 ¹9ì+ìc5cJ ¹ºJ39¹+¹+ J J J J 2J3¹9¹º5Jº J J J J J
13. Life Premiums Direct J J J J J J J J J J J J J
14. Property/Casualty Premiums Written J J J J J J J J J J J J J
15. Health Premiums Earned 2+J9ìºc+º2 ¹9ì+ìc5cJ ¹ºJ39¹+¹+ J J J J 2J3¹9¹º5Jº J J J J J
16. Property/Casualty Premiums Earned J J J J J J J J J J J J J
17. Amount Paid for Provision of Health Care Services 2¹¹+cº93Jº ¹ì3º9J3J3 ¹5+3¹ìJ3ì J J J J ¹ìºc+º¹9cº J J J J J
18. Amount Ìncurred for Provision of Health Care Services 2¹Jº5º+c23 ¹ì5+Jºc¹º ¹5¹Jì¹9¹¹ J J J J ¹ìº2¹J+J9+ J J J J J
(a) For health business: number of persons insured under PPO managed care products 0 and number of persons under indemnity only products 0
3
0
.
G
T
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE A - VERIFICATION BETWEEN YEARS
Real Estate
1. Book/adjusted carrying value, December 31, prior year J
2. Ìncrease (decrease) by adjustment:
2.1 Totals, Part 1, Column 11 J
2.2 Totals, Part 3, Column 7 J
3. Cost of acquired, (Totals, Part 2, Column 6, net of encumbrances (Column 7) and net of additions and permanent improvements (Column 9) J
4. Cost of additions and permanent improvements:
4.1 Totals, Part 1, Column 14 J
4.2 Totals, Part 3, Column 9 J
5. Total profit (loss) on sales, Part 3, Column 14 J
6. Ìncrease (decrease) by foreign exchange adjustment:
6.1 Totals, Part 1, Column 12 J
6.2 Totals, Part 3, Column 8 J
7. Amounts received on sales, Part 3, Column 11 and Part 1, Column 13 J
8. Book/adjusted carrying value at end of current period J
9. Total valuation allowance
10. Subtotal (Lines 8 plus 9) J
11. Total nonadmitted amounts
12. Statement value, current period (Page 2, real estate lines, Net Admitted Assets column) J
SCHEDULE B - VERIFICATION BETWEEN YEARS
Mortgage Loans
1. Book value/recorded investment excluding accrued interest of mortgages owned, December 31 of prior year J
2. Amount loaned during year:
2.1 Actual cost at time of acquisitions
2.2 Additional investment made after acquisitions J
3. Accrual of discount and mortgage interest points and commitment fees
4. Ìncrease (decrease) by adjustment
5. Total profit (loss) on sale
6. Amounts paid on account or in full during the year
7. Amortization of premium
8. Ìncrease (decrease) by foreign exchange adjustment
9. Book value/recorded investment excluding accrued interest on mortgages owned at end of current period J
10. Total valuation allowance
11. Subtotal (Lines 9 plus 10) J
12. Total nonadmitted amounts
13. Statement value of mortgages owned at end of current period (Page 2, mortgage lines, Net Admitted Assets column) J
SCHEDULE BA - VERIFICATION BETWEEN YEARS
Long-Term Ìnvested Assets
1. Book/adjusted carrying value of long-term invested assets owned, December 31 of prior year J
2. Cost of acquisitions during year:
2.1 Actual cost at time of acquisitions ìc++2ì3
2.2 Additional investment made after acquisitions ìc++2ì3
3. Accrual of discount
4. Ìncrease (decrease) by adjustment ì3º¹+2
5. Total profit (loss) on sale J
6. Amounts paid on account or in full during the year
7. Amortization of premium
8. Ìncrease (decrease) by foreign exchange adjustment
9. Book/adjusted carrying value of long-term invested assets at end of current period º3º2+¹5
10. Total valuation allowance
11. Subtotal (Lines 9 plus 10) º3º2+¹5
12. Total nonadmitted amounts º3º2+¹5
13. Statement value of long-term invested assets at end of current period (Page 2, Line 7, Column 3) J
31
NONE
NONE
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - SUMMARY BY COUNTRY
Long-Term Bonds and Stocks OWNED December 31 of Current Year
Description
1
Book/Adjusted
Carrying Value
2
Fair Value
3
Actual Cost
4
Par Value of Bonds
BONDS 1. United States 2¹¹9ì¹3+2 2¹¹ì5999ì 2¹¹9ì5ºc2 2¹2º+335¹
Governments 2. Canada
(Ìncluding all obligations guaranteed 3. Other Countries 5c335+ 5c5ìºJ 5c99+J 5JJJJJ
by governments) 4. Totals 2¹253+c9c 2¹2325ììì 2¹25+5ºJ2 2¹33+335¹
States, Territories and Possessions 5. United States cJJJJJJ cJJJJJJ cJJJJJJ cJJJJJJ
(Direct and guaranteed) 6. Canada
7. Other Countries
8. Totals cJJJJJJ cJJJJJJ cJJJJJJ cJJJJJJ
Political Subdivisions of States, 9. United States
Territories and Possessions 10. Canada
(Direct and guaranteed) 11. Other Countries
12. Totals J J J J
Special revenue and special assessment
obligations and all non-guaranteed 13. United States ¹¹+5º+º¹5 ¹¹3593º95 ¹¹+c+ì¹cJ ¹¹39º¹225
obligations of agencies and authorities of 14. Canada
governments and their political subdivisions 15. Other Countries
16. Totals ¹¹+5º+º¹5 ¹¹3593º95 ¹¹+c+ì¹cJ ¹¹39º¹225
Public Utilities (unaffiliated) 17. United States ¹3¹35+º5 ¹32ìJ¹Jº ¹3¹¹ºìJ3 ¹325JJJJ
18. Canada
19. Other Countries ¹+ì+¹55 ¹+ºcº25 ¹+ìJ+9J ¹5JJJJJ
20. Totals ¹+cJ9c+J ¹+ì5c933 ¹+5º9¹93 ¹+ì5JJJJ
Ìndustrial and Miscellaneous and Credit Tenant 21. United States 9cì+3¹+J 9ì++cJ25 9cºº9º5º 9c52º2ìº
Loans (unaffiliated) 22. Canada 525ì2c 52¹J¹5 52ìc5J 5JJJJJ
23. Other Countries 3ì5¹¹23 3º25cJJ 3ì5¹¹5J 3ì5JJJJ
24. Totals ¹J¹J¹99º9 ¹J¹ì92c+J ¹J¹¹cºc5º ¹JJììº2ìº
Parent, Subsidiaries and Affiliates 25. Totals J J J J
26. TotaI Bonds ++ºì+9¹+J ++º+c92+5 ++º95Jº¹3 ++ºº52º5+
PREFERRED STOCKS 27. United States
Public Utilities (unaffiliated) 28. Canada
29. Other Countries
30. Totals J J J
Banks, Trust and Ìnsurance Companies 31. United States
(unaffiliated) 32. Canada
33. Other Countries
34. Totals J J J
Ìndustrial and Miscellaneous (unaffiliated) 35. United States
36. Canada
37. Other Countries
38. Totals J J J
Parent, Subsidiaries and Affiliates 39. Totals J J J
40. TotaI Preferred Stocks J J J
COMMON STOCKS 41. United States
Public Utilities (unaffiliated) 42. Canada
43. Other Countries
44. Totals J J J
Banks, Trust and Ìnsurance Companies 45. United States
(unaffiliated) 46. Canada
47. Other Countries
48. Totals J J J
Ìndustrial and Miscellaneous (unaffiliated) 49. United States
50. Canada
51. Other Countries
52. Totals J J J
Parent, Subsidiaries and Affiliates 53. Totals ¹25º2ì ¹25º2ì ¹J5ì2ì
54. TotaI Common Stocks ¹25º2ì ¹25º2ì ¹J5ì2ì
55. TotaI Stocks ¹25º2ì ¹25º2ì ¹J5ì2ì
56. TotaI Bonds and Stocks ++ººì+9cì ++º595Jì2 ++9J5c5+J
SCHEDULE D - VERIFICATION BETWEEN YEARS
Bonds and Stocks
1. Book/adjusted carrying value of bonds and stocks, prior
year 3cº¹9J+º2 7. Amortization of premium º+¹9º9
2. Cost of bonds and stocks acquired, Column 7, Part 3 3ì559¹9+¹ 8. Foreign Exchange Adjustment:
3. Accrual of discount +22¹ì9 8.1 Column 15, Part 1 J
4. Ìncrease (decrease) by adjustment: 8.2 Column 19, Part 2, Sec. 1 J
4.1 Columns 12 - 14, Part 1 ¸2¹325) 8.3 Column 16, Part 2, Sec. 2 J
4.2 Columns 15 - 17, Part 2, Sec. 1 J 8.4 Column 15, Part 4 J J
4.3 Column 15, Part 2, Sec. 2 2J¹JJ 9. Book/adjusted carrying value at end of current period ++ººì+9cì
4.4 Columns 11 - 13, Part 4 22ºJì3 22cº+º 10. Total valuation allowance
5. Total gain (loss), Column 19, Part 4 ¸3Jº¹+¹º) 11. Subtotal (Lines 9 plus 10) ++ººì+9cì
6. Deduct consideration for bonds and stocks disposed of 12. Total nonadmitted amounts ¹25º2ì
Column 7, Part 4 29¹c33Jìc 13. Statement value of bonds and stocks, current period ++ºì+9¹+J
32
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 1A - SECTION 1
QuaIity and Maturity Distribution of AII Bonds Owned December 31, at Book/Adjusted Carrying VaIues by Major Types of Issues and NAIC Designations
Quality Rating per the NAÌC Designation
1
1 Year or Less
2
Over 1 Year Through
5 Years
3
Over 5 Years Through
10 Years
4
Over 10 Years
Through 20 Years
5
Over 20 Years
6
Total Current Year
7
Col. 6 as a
% of Line 10.7
8
Total from Col. 6
Prior Year
9
% From Col. 7
Prior Year
10
Total Publicly
Traded
11
Total Privately Placed
(a)
1. U.S. Governments, ScheduIes D & DA (Group 1)
1.1 Class 1 ++캹9J5 ¹3+c3¹+Jì c¹¹J+9J¹ +5¹Jc+J ¹º3+2+c 2+cºc3J99 39¹ ¹¹ì¹º2c++ 2ºì 2+cºc3J99
1.2 Class 2 J JJ J JJ
1.3 Class 3 J JJ J JJ
1.4 Class 4 J JJ J JJ
1.5 Class 5 J JJ J JJ
1.6
Class 6 J JJ J JJ
1.7
Totals ++캹9J5 ¹3+c3¹+Jì c¹¹J+9J¹ +5¹Jc+J ¹º3+2+c 2+cºc3J99 39¹ ¹¹ì¹º2c++ 2ºì 2+cºc3J99 J
2. AII Other Governments, ScheduIes D & DA (Group 2)
2.1 Class 1 J JJ J JJ
2.2 Class 2 5c335+ 5c335+ J¹ J JJ 5c335+
2.3 Class 3 J JJ J JJ
2.4 Class 4 J JJ J JJ
2.5 Class 5 J JJ J JJ
2.6
Class 6 J JJ J JJ
2.7
Totals J 5c335+ J J J 5c335+ J¹ J JJ 5c335+ J
3. States, Territories and Possessions etc., Guaranteed, ScheduIes D & DA (Group 3)
3.1 Class 1 cJJJJJJ cJJJJJJ ¹J J JJ cJJJJJJ
3.2 Class 2 J JJ J JJ
3.3 Class 3 J JJ J JJ
3.4 Class 4 J JJ J JJ
3.5 Class 5 J JJ J JJ
3.6
Class 6 J JJ J JJ
3.7
Totals J J J J cJJJJJJ cJJJJJJ ¹J J JJ J cJJJJJJ
4. PoIiticaI Subdivisions of States, Territories and Possessions, Guaranteed, ScheduIes D & DA (Group 4)
4.1 Class 1 J JJ J JJ
4.2 Class 2 J JJ J JJ
4.3 Class 3 J JJ J JJ
4.4 Class 4 J JJ J JJ
4.5 Class 5 J JJ J JJ
4.6
Class 6 J JJ J JJ
4.7
Totals J J J J J J JJ J JJ J J
5. SpeciaI Revenue & SpeciaI Assessment ObIigations etc., Non-Guaranteed, ScheduIes D & DA (Group 5)
5.1 Class 1 29993+J ¹c3+JJºì ¹º+ºº5cº 3º5J99J5 3º2+c9¹5 ¹¹+5º+º¹5 ¹º2 ¹J+2ºº2ºº 255 ¹¹25º+º¹5 2JJJJJJ
5.2 Class 2 J JJ J JJ
5.3 Class 3 J JJ J JJ
5.4 Class 4 J JJ J JJ
5.5 Class 5 J JJ J JJ
5.6
Class 6 J JJ J JJ
5.7
Totals 29993+J ¹c3+JJºì ¹º+ºº5cº 3º5J99J5 3º2+c9¹5 ¹¹+5º+º¹5 ¹º2 ¹J+2ºº2ºº 255 ¹¹25º+º¹5 2JJJJJJ
3
3
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 1A - SECTION 1 (continued)
QuaIity and Maturity Distribution of AII Bonds Owned December 31, at Book/Adjusted Carrying VaIues by Major Types of Issues and NAIC Designations
Quality Rating per the NAÌC Designation
1
1 Year or Less
2
Over 1 Year Through
5 Years
3
Over 5 Years Through
10 Years
4
Over 10 Years
Through 20 Years
5
Over 20 Years
6
Total Current Year
7
Col. 6 as a
% of Line 10.7
8
Total from Col. 6
Prior Year
9
% From Col. 7
Prior Year
10
Total Publicly
Traded
11
Total Privately Placed
(a)
6. PubIic UtiIities (UnaffiIiated), ScheduIes D & DA (Group 6)
6.1 Class 1 +25ì3J¹ 35¹Jº¹5 ììcº¹¹c ¹2 º3JJ5ºJ 2J ììcº¹¹c
6.2 Class 2 ¹+cì2+J 53ì+2º¹ cº+¹52¹ ¹¹ ¹c¹JJJJ J+ cº+¹52¹
6.3 Class 3 J JJ J JJ
6.4 Class 4 J JJ J JJ
6.5 Class 5 J JJ J JJ
6.6
Class 6 J JJ J JJ
6.7
Totals J 5ì2+5+¹ ººº5J9c J J ¹+cJ9c3ì 23 99¹J5ºJ 2+ ¹+cJ9c3ì J
7. IndustriaI & MisceIIaneous (UnaffiIiated), ScheduIes D & DA (Group 7)
7.1 Class 1 ¹+c22252c +ºJc3959 2º2º+c32 c9º+¹¹º ¹2¹2+cº¹ 2+¹cì99¹c 3º3 ¹cc33¹35¹ +Jì 235¹3J+ìc c5+9++J
7.2 Class 2 3J¹cJ+c 32933+J 523cJì cº32993 ¹¹ +5ì3J+¹ ¹¹ 3º¹c9+ì 3J¹cJ+c
7.3 Class 3 J JJ c32ì9+2 ¹5
7.4 Class 4 J JJ J JJ
7.5 Class 5 J JJ J JJ
7.6
Class 6 J JJ J JJ
7.7
Totals ¹+923º5ì2 5¹35ì299 2ººJº239 c9º+¹¹º ¹2¹2+cº¹ 2+º5¹29J9 39+ ¹ìì23233+ +3+ 23º9+ì+23 95c5+ºc
8. Credit Tenant Loans, ScheduIes D & DA (Group 8)
8.1 Class 1 J JJ J JJ
8.2 Class 2 J JJ J JJ
8.3 Class 3 J JJ J JJ
8.4 Class 4 J JJ J JJ
8.5 Class 5 J JJ J JJ
8.6
Class 6 J JJ J JJ
8.7
Totals J J J J J J JJ J JJ J J
9. Parent, Subsidiaries and AffiIiates, ScheduIes D & DA (Group 9)
9.1 Class 1 J JJ J JJ
9.2 Class 2 J JJ J JJ
9.3 Class 3 J JJ J JJ
9.4 Class 4 J JJ J JJ
9.5 Class 5 J JJ J JJ
9.6
Class 6 J JJ J JJ
9.7
Totals J J J J J J JJ J JJ J J
3
4
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 1A - SECTION 1 (continued)
QuaIity and Maturity Distribution of AII Bonds Owned December 31, at Book/Adjusted Carrying VaIues by Major Types of Issues and NAIC Designations
Quality Rating per the NAÌC Designation
1
1 Year or Less
2
Over 1 Year Through
5 Years
3
Over 5 Years Through
10 Years
4
Over 10 Years
Through 20 Years
5
Over 20 Years
6
Total Current Year
7
Col. 6 as a
% of Line 10.7
8
Total from Col. 6
Prior Year
9
% From Col. 7
Prior Year
10
Total Publicly
Traded
11
Total Privately Placed
(a)
10. TotaI Bonds Current Year
10.1 Class 1 ¹9+JJ3ìì¹ 2J3292ì5+ ¹¹¹3ºº9¹c 5JJJ+cc3 5º2J5º+2 c¹cº959+c 9ìì \\\ \\\ cJ23+c5Jc ¹+5+9++J
10.2 Class 2 3J¹cJ+c 532393+ 5º9캺º J J ¹+23ìºcº 23 \\\ \\\ ¹¹22¹º22 3J¹cJ+c
10.3 Class 3 J J J J J J JJ \\\ \\\ J J
10.4 Class 4 J J J J J J JJ \\\ \\\ J J
10.5 Class 5 J J J J J
(c)
J JJ \\\ \\\ J J
10.6 Class 6 J J J J J
(c)
J JJ \\\ \\\ J J
10.7 Totals ¹9ìJ¹9º¹ì 2Jºc¹ccºº ¹¹ì2ºcºJ+ 5JJJ+cc3 5º2J5º+2
(b)
c3¹¹33º¹+ ¹JJJ \\\ \\\ c¹35cº32º ¹ì5c5+ºc
10.8 Line 10.7 as a % of Col. 6 3¹2 33¹ ¹ºc ì9 92 ¹JJJ \\\ \\\ \\\ 9ì2 2º
11. TotaI Bonds Prior Year
11.1 Class 1 ì+5ì955¹ ¹2º955Jì3 ¹JJcº¹3J5 +3ìc9ì¹+ +º¹¹ì22J \\\ \\\ 39c¹J2ºc3 9c9 39¹52Jììc +5º2Jºì
11.2 Class 2 J +59c5º+ ¹5ºc+5ì J J \\\ \\\ c¹º3J+¹ ¹5 c¹º3J+¹ J
11.3 Class 3 J c32ì9+2 J J J \\\ \\\ c32ì9+2 ¹5 c32ì9+2 J
11.4 Class 4 J J J J J \\\ \\\ J JJ J J
11.5 Class 5 J J J J J \\\ \\\
(c)
J JJ J J
11.6 Class 6 J J J J J \\\ \\\
(c)
J JJ J J
11.7 Totals ì+5ì955¹ ¹39ºì9599 ¹J22cììc2 +3ìc9ì¹+ +º¹¹ì22J \\\ \\\
(b)
+Jºc¹3º+c ¹JJJ +J+J3¹ì59 +5º2Jºì
11.8 Line 11.7 as a % of Col. 8 ¹º3 3+2 25J ¹Jì ¹¹º \\\ \\\ ¹JJJ \\\ 9º9 ¹¹
12. TotaI PubIicIy Traded Bonds
12.1 Class 1 ¹935ìììº+ 2J¹3cºìì+ ¹¹J939++3 5JJJ+cc3 +c+55º+2 cJ23+c5Jc 95+ 39¹52Jììc 95º cJ23+c5Jc \\\
12.2 Class 2 532393+ 5º9캺º ¹¹22¹º22 ¹º c¹º3J+¹ ¹5 ¹¹22¹º22 \\\
12.3 Class 3 J JJ c32ì9+2 ¹5 J \\\
12.4 Class 4 J JJ J JJ J \\\
12.5 Class 5 J JJ J JJ J \\\
12.6 Class 6 J JJ J JJ J \\\
12.7 Totals ¹935ìììº+ 2Jcc92ìJº ¹¹cº3ì33¹ 5JJJ+cc3 +c+55º+2 c¹35cº32º 9ì2 +J+J3¹ì59 9º9 c¹35cº32º \\\
12.8 Line 12.7 as a % of Col. 6 3¹5 33ì ¹9J º¹ ìc ¹JJJ \\\ \\\ \\\ ¹JJJ \\\
12.9 Line 12.7 as a % of Line 10.7,
Col. 6, Section 10 3Jì 32ì ¹º5 ì9 ì+ 9ì2 \\\ \\\ \\\ 9ì2 \\\
13. TotaI PrivateIy PIaced Bonds
13.1 Class 1 +259ºì ¹9239ºJ ++9+ì3 ¹¹ì5JJJJ ¹+5+9++J 23 +5º2Jºì ¹¹ \\\ ¹+5+9++J
13.2 Class 2 3J¹cJ+c 3J¹cJ+c J5 J JJ \\\ 3J¹cJ+c
13.3 Class 3 J JJ J JJ \\\ J
13.4 Class 4 J JJ J JJ \\\ J
13.5 Class 5 J JJ J JJ \\\ J
13.6 Class 6 J JJ J JJ \\\ J
13.7 Totals 3++2J33 ¹9239ºJ ++9+ì3 J ¹¹ì5JJJJ ¹ì5c5+ºc 2º +5º2Jºì ¹¹ \\\ ¹ì5c5+ºc
13.8 Line 13.7 as a % of Col. 6 ¹9c ¹¹J 2c JJ cc9 ¹JJJ \\\ \\\ \\\ \\\ ¹JJJ
13.9 Line 13.7 as a % of Line 10.7,
Col. 6, Section 10 J5 J3 J¹ JJ ¹9 2º \\\ \\\ \\\ \\\ 2º
(a) Ìncludes $ 5º¹5+ºc freely tradable under SEC Rule 144 or qualified for resale under SEC Rule 144A.
(b) Ìncludes $ current year, $ prior year of bonds with Z designations and $ , current year, $ prior year of bonds with Z* designations. The letter "Z¨ means the NAÌC designation was not assigned by the
Securities Valuation Office (SVO) at the date of the statement. "Z*¨ means the SVO could not evaluate the obligation because valuation procedures for the security class is under regulatory review.
(c) Ìncludes $ current year, $ prior year of bonds with 5* designations and $ , current year, $ prior year of bonds with 6* designations. "5*¨ means the NAÌC designation was assigned by the SVO in
reliance on the insurer's certification that the issuer is current in all principal and interest payments. "6*¨ means the NAÌC designation was assigned by the SVO due to inadequate certification of principal and interest payments.
3
5
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 1A - SECTION 2
Maturity Distribution of AII Bonds Owned December 31, at Book/Adjusted Carrying VaIues by Major Type and Subtype of Issues
Distribution by Type
1
1 Year or Less
2
Over 1 Year
Through 5 Years
3
Over 5 Years
Through 10 Years
4
Over 10 Years
Through 20 Years
5
Over 20 Years
6
Total Current Year
7
Col. 6 as a %
of Line 10.7
8
Total from Col 6
Prior Year
9
% From Col. 7
Prior Year
10
Total Publicly
Traded
11
Total Privately
Placed
1. U.S. Governments, ScheduIes D & DA (Group 1)
1.1 Ìssuer Obligations ++ì2¹5cº ¹3+3+ºì9º cJc3cº93 3JJJJJJ 2+2ìJì259 3º5 ¹J2993¹2J 252 2+2ìJì259
1.2 Single Class Mortgage-Backed/Asset-Backed Securities cJ33ì 2º2cJ9 +cºJJº ¹5¹Jc+J ¹º3+2+c +¹55º+J Jì ¹+¹º952+ 35 +¹55º+J
1.7 Totals ++캹9J5 ¹3+c3¹+Jì c¹¹J+9J¹ +5¹Jc+J ¹º3+2+c 2+cºc3J99 39¹ ¹¹ì¹º2c++ 2ºì 2+cºc3J99 J
2. AII Other Governments, ScheduIes D & DA (Group 2)
2.1 Ìssuer Obligations 5c335+ 5c335+ J¹ J JJ 5c335+
2.2 Single Class Mortgage-Backed/Asset-Backed Securities J JJ J JJ
MULTÌ-CLASS RESÌDENTÌAL MORTGAGE-BACKED SECURÌTÌES
2.3 Defined J JJ J JJ
2.4 Other J JJ J JJ
MULTÌ-CLASS COMMERCÌAL MORTGAGE-BACKED/ASSET-
BACKED SECURÌTÌES
2.5 Defined J JJ J JJ
2.6 Other J JJ J JJ
2.7 Totals J 5c335+ J J J 5c335+ J¹ J JJ 5c335+ J
3. States, Territories, and Possessions Guaranteed, ScheduIes D & DA (Group 3)
3.1 Ìssuer Obligations 2JJJJJJ 2JJJJJJ J3 J JJ 2JJJJJJ
3.2 Single Class Mortgage-Backed/Asset-Backed Securities J JJ J JJ
MULTÌ-CLASS RESÌDENTÌAL MORTGAGE-BACKED SECURÌTÌES
3.3 Defined J JJ J JJ
3.4 Other J JJ J JJ
MULTÌ-CLASS COMMERCÌAL MORTGAGE-BACKED/ASSET-
BACKED SECURÌTÌES
3.5 Defined J JJ J JJ
3.6 Other +JJJJJJ +JJJJJJ Jc J JJ +JJJJJJ
3.7 Totals J J J J cJJJJJJ cJJJJJJ ¹J J JJ J cJJJJJJ
4. PoIiticaI Subdivisions of States, Territories and Possessions, Guaranteed, ScheduIes D & DA (Group 4)
4.1 Ìssuer Obligations J JJ J JJ
4.2 Single Class Mortgage-Backed/Asset-Backed Securities J JJ J JJ
MULTÌ-CLASS RESÌDENTÌAL MORTGAGE-BACKED SECURÌTÌES
4.3 Defined J JJ J JJ
4.4 Other J JJ J JJ
MULTÌ-CLASS COMMERCÌAL MORTGAGE-BACKED/ASSET-
BACKED SECURÌTÌES
4.5 Defined J JJ J JJ
4.6 Other J JJ J JJ
4.7 Totals J J J J J J JJ J JJ J J
5. SpeciaI Revenue & SpeciaI Assessment ObIigations etc., Non-Guaranteed, ScheduIes D & DA (Group 5)
5.1 Ìssuer Obligations 2JJJJJJ 2JJJJJJ J3 J JJ 2JJJJJJ
5.2 Single Class Mortgage-Backed/Asset-Backed Securities 2+¹º+5¹ ¹Jº¹ìºJJ ¹c¹9c923 3¹cìºì5¹ 3+ì+5¹5º 95º5ìJº3 ¹52 ì9c5¹¹¹º ¹95 95º5ìJº3
MULTÌ-CLASS RESÌDENTÌAL MORTGAGE-BACKED SECURÌTÌES
5.3 Defined 5ºJºº9 55222ºì 229¹c+5 cº3¹¹5+ ¹5J¹ì5ì ¹cì2ìì32 2ì 2+c3ì¹ìJ cJ ¹cì2ìì32
5.4 Other J JJ J JJ
MULTÌ-CLASS COMMERCÌAL MORTGAGE-BACKED/ASSET-
BACKED SECURÌTÌES
5.5 Defined J JJ J JJ
5.6 Other J JJ J JJ
5.7 Totals 29993+J ¹c3+JJºì ¹º+ºº5cº 3º5J99J5 3º2+c9¹5 ¹¹+5º+º¹5 ¹º2 ¹J+2ºº2ºº 255 ¹¹25º+º¹5 2JJJJJJ
3
6
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 1A - SECTION 2 (continued)
Maturity Distribution of AII Bonds Owned December 31, at Book/Adjusted Carrying VaIues by Major Type and Subtype of Issues
Distribution by Type
1
1 Year or Less
2
Over 1 Year Through
5 Years
3
Over 5 Years
Through 10 Years
4
Over 10 Years
Through 20 Years
5
Over 20 Years
6
Total Current Year
7
Col. 6 as a
% of Line 10.7
8
Total from Col. 6
Prior Year
9
% From Col. 7
Prior Year
10
Total Publicly
Traded
11
Total Privately
Placed
6. PubIic UtiIities (UnaffiIiated), ScheduIes D & DA (Group 6)
6.1 Ìssuer Obligations 5ì2+5+¹ ººº5J9c ¹+cJ9c3ì 23 99¹J5ºJ 2+ ¹+cJ9c3ì
6.2 Single Class Mortgage-Backed/Asset-Based
Securities J JJ J JJ
MULTÌ-CLASS RESÌDENTÌAL MORTGAGE-
BACKED SECURÌTÌES
6.3 Defined J JJ J JJ
6.4 Other J JJ J JJ
MULTÌ-CLASS COMMERCÌAL MORTGAGE-
BACKED/ASSET-BACKED SECURÌTÌES
6.5 Defined J JJ J JJ
6.6 Other J JJ J JJ
6.7 Totals J 5ì2+5+¹ ººº5J9c J J ¹+cJ9c3ì 23 99¹J5ºJ 2+ ¹+cJ9c3ì J
7. IndustriaI & MisceIIaneous (UnaffiIiated), ScheduIes D & DA (Group 7)
7.1 Ìssuer Obligations ¹+ì+929¹ì +c¹¹332+ 2cº93¹5¹ 3ìJ35ì2 22+2J29c+ 355 ¹33c¹959+ 32ì 22¹¹ºc9¹ì 3J¹cJ+ì
7.2 Single Class Mortgage-Backed/Asset-Based
Securities J JJ J JJ
MULTÌ-CLASS RESÌDENTÌAL MORTGAGE-
BACKED SECURÌTÌES
7.3 Defined ¹2ìì323 3¹25c9ì ¹¹553ì+ 23+J593 3ì939+3 ¹¹c9293J ¹9 ¹ºJ5J5cJ ++ ¹¹c9293J
7.4 Other J JJ 2¹¹9JJJc 52
MULTÌ-CLASS COMMERCÌAL MORTGAGE-
BACKED/ASSET-BACKED SECURÌTÌES
7.5 Defined +23+c ¹9+29º 3¹J2+¹ 939953 +5ºJì3º cJcì5ìc ¹J J JJ cJcì5ìc
7.6 Other +259ºc ¹9239ºJ ++9+ì3 3ì5JJJJ c5+9+39 ¹J +3ì2¹ì+ ¹¹ c5+9+39
7.7 Totals ¹+923º5ì2 5¹35ì299 2ººJº239 c9º+¹¹º ¹2¹2+cº¹ 2+º5¹29J9 39+ ¹ìì23233+ +3+ 23º9+ì+23 95c5+ºc
8. Credit Tenant Loans, ScheduIes D & DA (Group 8)
8.1 Ìssuer Obligations J JJ J JJ
8.7 Totals J J J J J J JJ J JJ J J
9. Parents, Subsidiaries and AffiIiates, ScheduIes D & DA (Group 9)
9.1 Ìssuer Obligations J JJ J JJ
9.2 Single Class Mortgage-Backed/Asset-Based
Securities J JJ J JJ
MULTÌ-CLASS RESÌDENTÌAL MORTGAGE-
BACKED SECURÌTÌES
9.3 Defined J JJ J JJ
9.4 Other J JJ J JJ
MULTÌ-CLASS COMMERCÌAL MORTGAGE-
BACKED/ASSET-BACKED SECURÌTÌES
9.5 Defined J JJ J JJ
9.6 Other J JJ J JJ
9.7 Totals J J J J J J JJ J JJ J J
3
7
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 1A - SECTION 2 (continued)
Maturity Distribution of AII Bonds Owned December 31, at Book/Adjusted Carrying VaIues by Major Type and Subtype of Issues
Distribution by Type
1
1 Year or Less
2
Over 1 Year
Through 5 Years
3
Over 5 Years
Through 10 Years
4
Over 10 Years
Through 20 Years
5
Over 20 Years
6
Total
Current Year
7
Col. 6 as a %
of Line 10.7
8
Total From Col. 6
Prior Year
9
% From Col. 7
Prior Year
10
Total Publicly
Traded
11
Total Privately
Placed
10. TotaI Bonds Current Year
10.1 Ìssuer Obligations ¹922¹++º5 ¹ºcì5JJ¹ì 9c+¹5¹+J cìJ35ì2 +JJJJJJ +ºcJº32¹+ ììJ \\\ \\\ +ì9Jcì¹cì ìJ¹cJ+ì
10.2 Single Class Mortgage-Backed/Asset-Backed Securities 2+ìºìºº ¹¹¹JJ+J9 ¹ccc+93¹ 33¹º939¹ 3c5ì9+J+ ¹JJJ¹2923 ¹5º \\\ \\\ ¹JJJ¹2923 J
MULTÌ-CLASS RESÌDENTÌAL MORTGAGE-BACKED SECURÌTÌES
10.3 Defined ¹º5º2¹2 ºc+ì9º+ 3++ìJ¹9 9¹ì¹ì+ì 5295ìJJ 2º+2Jcc2 +5 \\\ \\\ 2º+2Jcc2 J
10.4 Other J J J J J J JJ \\\ \\\ J J
MULTÌ-CLASS COMMERCÌAL MORTGAGE-BACKED/ASSET-BACKED SECURÌTÌES
10.5 Defined +23+c ¹9+29º 3¹J2+¹ 939953 +5ºJì3º cJcì5ìc ¹J \\\ \\\ cJcì5ìc J
10.6 Other +259ºc ¹9239ºJ ++9+ì3 J ìì5JJJJ ¹J5+9+39 ¹ì \\\ \\\ J ¹J5+9+39
10.7 Totals ¹9ìJ¹9º¹ì 2Jºc¹ccºº ¹¹ì2ºcºJ+ 5JJJ+cc3 5º2J5º+2 c3¹¹33º¹+ ¹JJJ \\\ \\\ c¹35cº32º ¹ì5c5+ºc
10.8 Line 10.7 as a % of Col. 6 3¹2 33¹ ¹ºc ì9 92 ¹JJJ \\\ \\\ \\\ 9ì2 2º
11. TotaI Bonds Prior Year
11.1 Ìssuer Obligations c+9ì9¹¹+ ¹J5º+53¹2 ì39¹+cJ3 J ¹ìº+2c5 \\\ \\\ 2+c52329+ cJ3 2+2J3¹+c9 ++9¹º25
11.2 Single Class Mortgage-Backed/Asset-Backed Securities 2ì9¹929 ¹22cc¹5J ¹ì++ìcc+ 3¹9599Jº 293ì+99¹ \\\ \\\ 93º+Jc+2 23J 93º+Jc+2 J
MULTÌ-CLASS RESÌDENTÌAL MORTGAGE-BACKED SECURÌTÌES
11.3 Defined 555ºº59 ¹cº¹5¹º¹ ºì5¹+52 53ìJ+2º c¹9¹º¹J \\\ \\\ +2cºìì3J ¹J+ +2cºìì3J J
11.4 Other 3cì3+5 ¹+c3Jºc 2¹5+J+3 c+393ìº ¹Jìcc¹5+ \\\ \\\ 2¹¹9JJJc 52 2¹J99ì++ 9J2c2
MULTÌ-CLASS COMMERCÌAL MORTGAGE-BACKED/ASSET-BACKED SECURÌTÌES
11.5 Defined J J J J J \\\ \\\ J JJ J J
11.6 Other ºº23J+ 3+º9ºìJ J J J \\\ \\\ +3ì2¹ì+ ¹¹ +3ì2¹ì+ J
11.7 Totals ì+5ì955¹ ¹39ºì9599 ¹J22cììc2 +3ìc9ì¹+ +º¹¹ì22J \\\ \\\ +Jºc¹3º+c ¹JJJ +J+J3¹ì59 +5º2Jºì
11.8 Line 11.7 as a % of Col. 8 ¹º3 3+2 25J ¹Jì ¹¹º \\\ \\\ ¹JJJ \\\ 9º9 ¹¹
12. TotaI PubIicIy Traded Bonds
12.1 Ìssuer Obligations ¹º9¹9º+3c ¹ºcì5JJ¹ì 9c+¹5¹+¹ cìJ35ì3 +ì9Jcì¹cì ì59 2+2J3¹+c9 592 +ì9Jcì¹cì \\\
12.2 Single Class Mortgage-Backed/Asset-Backed Securities 2+ìºìº9 ¹¹¹JJ+Jº ¹ccc+93¹ 33¹º939¹ 3c5ì9+J+ ¹JJJ¹2923 ¹5º 93º+Jc+2 23J ¹JJJ¹2923 \\\
MULTÌ-CLASS RESÌDENTÌAL MORTGAGE-BACKED SECURÌTÌES
12.3 Defined ¹º5º2¹3 ºc+ì9º5 3++ìJ¹º 9¹ì¹ì+c 5295ìJJ 2º+2Jcc2 +5 +2cºìì3J ¹J+ 2º+2Jcc2 \\\
12.4 Other J JJ 2¹J99ì++ 52 J \\\
MULTÌ-CLASS COMMERCÌAL MORTGAGE-BACKED/ASSET-BACKED SECURÌTÌES
12.5 Defined J JJ J JJ J \\\
12.6 Other +23+c ¹9+29º 3¹J2+¹ 939953 +5ºJì3º cJcì5ìc ¹J +3ì2¹ì+ ¹¹ cJcì5ìc \\\
12.7 Totals ¹935ìììº+ 2Jcc92ìJº ¹¹cº3ì33¹ 5JJJ+cc3 +c+55º+2 c¹35cº32º 9ì2 +J+J3¹ì59 9º9 c¹35cº32º \\\
12.8 Line 12.7 as a % of Col. 6 3¹5 33ì ¹9J º¹ ìc ¹JJJ \\\ \\\ \\\ ¹JJJ \\\
12.9 Line 12.7 as a % of Line 10.7, Col. 6, Section 10 3Jì 32ì ¹º5 ì9 ì+ 9ì2 \\\ \\\ \\\ 9ì2 \\\
13. TotaI PrivateIy PIaced Bonds
13.1 Ìssuer Obligations 3J¹cJ+ì +JJJJJJ ìJ¹cJ+ì ¹¹ ++9¹º25 ¹¹ \\\ ìJ¹cJ+ì
13.2 Single Class Mortgage-Backed/Asset-Backed Securities J JJ J JJ \\\ J
MULTÌ-CLASS RESÌDENTÌAL MORTGAGE-BACKED SECURÌTÌES
13.3 Defined J JJ J JJ \\\ J
13.4 Other J JJ 9J2c2 JJ \\\ J
MULTÌ-CLASS COMMERCÌAL MORTGAGE-BACKED/ASSET-BACKED SECURÌTÌES
13.5 Defined J JJ J JJ \\\ J
13.6 Other +259ºc ¹9239ºJ ++9+ì3 ìì5JJJJ ¹J5+9+39 ¹ì J JJ \\\ ¹J5+9+39
13.7 Totals 3++2J33 ¹9239ºJ ++9+ì3 J ¹¹ì5JJJJ ¹ì5c5+ºc 2º +5º2Jºì ¹¹ \\\ ¹ì5c5+ºc
13.8 Line 13.7 as a % of Col. 6 ¹9c ¹¹J 2c JJ cc9 ¹JJJ \\\ \\\ \\\ \\\ ¹JJJ
13.9 Line 13.7 as a % of Line 10.7, Col. 6, Section 10 J5 J3 J¹ JJ ¹9 2º \\\ \\\ \\\ \\\ 2º
3
8
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE DA - PART 2 - VERIFICATION BETWEEN YEARS
Short-Term Investments
1
Total
2
Bonds
3
Mortgage Loans
4
Other Short-term
Ìnvestment Assets(a)
5
Ìnvestments in Parent,
Subsidiaries and Affiliates
1. Book/adjusted carrying value, prior year +J+233c+ +J+233c+ J J J
2. Cost of short-term investments acquired 253325¹2¹+ 2532J3ì593 ¹2¹3c2¹
3. Ìncrease (decrease) by adjustment ¹ìc+2 ¹ìc+2
4. Ìncrease (decrease) by foreign exchange adjustment J
5. Total profit (loss) on disposal of short-term investments ºJ ºJ
6. Consideration received on disposal of short-term investments 25+¹Jìì¹+3 2539ºc3522 ¹2¹3c2¹
7. Book/adjusted carrying value, current year 32c¹5¹5ì 32c¹5¹5ì J J J
8. Total valuation allowance J
9. Subtotal (Lines 7 plus 8) 32c¹5¹5ì 32c¹5¹5ì J J J
10. Total nonadmitted amounts J
11. Statement value (Lines 9 minus 10) 32c¹5¹5ì 32c¹5¹5ì J J J
12. Ìncome collected during year 2º¹c++J 2º¹c++J
13. Ìncome earned during year 2ºc+2++ 2ºc+2++
(a) Ìndicate the category of such assets, for example, joint ventures, transportation equipment:
3
9
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
Schedule DB - Part A - VBY
NONE
Schedule DB - Part B - VBY
NONE
Schedule DB - Part C - VBY
NONE
Schedule DB - Part D - VBY
NONE
Schedule DB - Part E - VBY
NONE
Schedule DB - Part F - Section 1
NONE
Schedule DB - Part F - Section 2
NONE
Schedule S - Part 1 - Section 2
NONE
Schedule S - Part 2
NONE
Schedule S - Part 3 - Section 2
NONE
Schedule S - Part 4
NONE
40, 41, 42, 43, 44, 45, 46, 47
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
Schedule S - Part 5
NONE
48
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE S-PART 6
Restatement of BaIance Sheet to Identify Net Credit For Ceded Reinsurance
1
As Reported
(net of ceded)
2
Restatement
Adjustments
3
Restated
(gross of ceded)
ASSETS (Page 2, CoI. 3)
1. Cash and invested assets (Line 10) c32+c25c¹ c32+c25c¹
2. Accident and health premiums due and unpaid (Line 13) 2¹cJ2c55 2¹cJ2c55
3. Amounts recoverable from reinsurers (Line 14.1) J J
4. Net credit for ceded reinsurance XXX J J
5. All other admitted assets (Balance) cº5+c2¹+ cº5+c2¹+
6. Total assets (Line 26) ì22c¹¹+3J J ì22c¹¹+3J
LIABILITIES, CAPITAL AND SURPLUS (Page 3)
7. Claims unpaid (Line 1) ¹59c3399¹ J ¹59c3399¹
8. Accrued medical incentive pool and bonus payments (Line 2) 3552JJJ 3552JJJ
9. Premiums received in advance (Line 8) 3c+º52ì¹ 3c+º52ì¹
10. Reinsurance in unauthorized companies (Line 18) J J
11. All other liabilities (Balance) ¹J+9ººì3ì ¹J+9ººì3ì
12. Total liabilities (Line 22) 3J+c59999 J 3J+c59999
13. Total capital and surplus (Line 31) +¹ì95¹+3¹ XXX +¹ì95¹+3¹
14. Total liabilities, capital and surplus (Line 32) ì22c¹¹+3J J ì22c¹¹+3J
NET CREDÌT FOR CEDED REÌNSURANCE
15. Claims unpaid J
16. Accrued medical incentive pool J
17. Premiums received in advance J
18. Reinsurance recoverable on paid losses J
19. Other ceded reinsurance recoverables J
20. Total ceded reinsurance recoverables J
21. Premiums receivable J
22. Unauthorized reinsurance J
23. Other ceded reinsurance payables/offsets J
24. Total ceded reinsurance payables/offsets J
25. Total net credit for ceded reinsurance J
49
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE T PREMIUMS AND OTHER CONSIDERATIONS
AIIocated by States and Territories
1 2 Direct Business Only
State, Etc.
Guaranty
Fund
(Yes or No)
Ìs Ìnsurer
Licensed
(Yes or No)
3
Accident
&
Health Premiums
4
Medicare
Title XVÌÌÌ
5
Medicaid
Title XÌX
6
Federal
Employees
Health Benefits
Program
Premiums
7
Life & Annuity
Premiums &
Deposit Type
Contract Funds
8
Property/
Casualty
Premiums
1. Alabama AL \c \c
2. Alaska AK \c \c
3. Arizona AZ \c \c
4. Arkansas AR \c \c
5. California CA \c \c
6. Colorado CO \c \c
7. Connecticut CT \c \c
8. Delaware DE \c \c
9. District of Columbia DC \c \c
10. Florida FL \c \c
11. Georgia GA \c \c
12. Hawaii HÌ \c \c
13. Ìdaho ÌD \c \c
14. Ìllinois ÌL \c \c
15. Ìndiana ÌN \c \c
16. Ìowa ÌA \c \c
17. Kansas KS \c \c
18. Kentucky KY \c \c
19. Louisiana LA \c \c
20. Maine ME \c \c
21. Maryland MD \c \c
22. Massachusetts MA \c \c
23. Michigan MÌ \c \c
24. Minnesota MN \c \c
25. Mississippi MS \c \c
26. Missouri MO \c \c
27. Montana MT \c \c
28. Nebraska NE \c \c
29. Nevada NV \c \c
30. New Hampshire NH \c \c
31. New Jersey NJ \c \c
32. New Mexico NM \c \c
33. New York NY \c \c
34. North Carolina NC \c \c
35. North Dakota ND \c \c
36. Ohio OH \c \c
37. Oklahoma OK \c \c
38. Oregon OR \c \c
39. Pennsylvania PA \c \es 3ììºcì9ì+ 2J3¹ºì9+º2
40. Rhode Ìsland RÌ \c \c
41. South Carolina SC \c \c
42. South Dakota SD \c \c
43. Tennessee TN \c \c
44. Texas TX \c \c
45. Utah UT \c \c
46. Vermont VT \c \c
47. Virginia VA \c \c
48. Washington WA \c \c
49. West Virginia WV \c \c
50. Wisconsin WÌ \c \c
51. Wyoming WY \c \c
52. American Samoa AS \c \c
53. Guam GU \c \c
54. Puerto Rico PR \c \c
55. U.S. Virgin Ìslands VÌ \c \c
56 Northern Mariana Ìslands MP \c \c
57 Canada CN \c \c
58. Aggregate other alien OT \\\ \\\ J J J J J J
59. Subtotal \\\ \\\ 3ììºcì9ì+ 2J3¹ºì9+º2 J J J J
60. Reporting entity contributions for
Employee Benefit Plans \\\ \\\ 39J2c
61. Total (Direct Business) \\\ (a) ¹ 3ììºcì9ì+ 2J3¹9¹º5Jº J J J J
DETAILS OF WRITE-INS
5801. \\\ \\\
5802. \\\ \\\
5803. \\\ \\\
5898. Summary of remaining write-ins for
Line 58 from overflow page \\\ \\\ J J J J J J
5899. Totals (Lines 5801 through 5803 plus
5898) (Line 58 above) \\\ \\\ J J J J J J
Explanation of basis of allocation by states, premiums by state, etc.:
(a) Ìnsert the number of yes responses except for Canada and other Alien.
50
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE T - PART 2
INTERSTATE COMPACT - EXHIBIT OF PREMIUMS WRITTEN
AIIocated by States and Territories
Direct Business Only
States, Etc.
1
Life
(Group and
Ìndividual)
2
Annuities (Group
and Ìndividual)
3
Disability
Ìncome
(Group and
Ìndividual)
4
Long-Term Care
(Group and
Ìndividual)
5
Deposit-Type
Contracts
6
Totals
1. Alabama AL J
2. Alaska AK J
3. Arizona AZ J
4. Arkansas AR J
5. California CA J
6. Colorado CO J
7. Connecticut CT J
8. Delaware DE J
9. District of Columbia DC J
10. Florida FL J
11. Georgia GA J
12. Hawaii HÌ J
13. Ìdaho ÌD J
14. Ìllinois ÌL J
15. Ìndiana ÌN J
16. Ìowa ÌA J
17. Kansas KS J
18. Kentucky KY J
19. Louisiana LA J
20. Maine ME J
21. Maryland MD J
22. Massachusetts MA J
23. Michigan MÌ J
24. Minnesota MN J
25. Mississippi MS J
26. Missouri MO J
27. Montana MT J
28. Nebraska NE J
29. Nevada NV J
30. New Hampshire NH J
31. New Jersey NJ J
32. New Mexico NM J
33. New York NY J
34. North Carolina NC J
35. North Dakota ND J
36. Ohio OH J
37. Oklahoma OK J
38. Oregon OR J
39. Pennsylvania PA J
40. Rhode Ìsland RÌ J
41. South Carolina SC J
42. South Dakota SD J
43. Tennessee TN J
44. Texas TX J
45. Utah UT J
46. Vermont VT J
47. Virginia VA J
48. Washington WA J
49. West Virginia WV J
50. Wisconsin WÌ J
51. Wyoming WY J
52. American Samoa AS J
53. Guam GU J
54. Puerto Rico PR J
55. U.S. Virgin Ìslands VÌ J
56. Northern Mariana Ìslands MP J
57. Canada CN J
58. Aggregate Other Alien OT J
59. Totals J J J J J J

51
NONE
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE Y - INFORMATION CONCERNING ACTIVITIES OF INSURER AND HMO MEMBERS OF A HOLDING COMPANY
GROUP
PART 1 - ORGANIZATIONAL CHART
HIGHMARK INC.
D/B/A HÌGHMARK BLUE CROSS BLUE SHÌELD AND HÌGHMARK BLUE SHÌELD
FEÌN 23-1294723
NAÌC GROUP CODE 0812
NAÌC COMPANY CODE 54771-PA
UNÌTED CONCORDÌA
COMPANÌES, ÌNC.
100%
FEÌN 25-1687586
NAÌC COMPANY CODE
89070-PA
UNÌTED CONCORDÌA
ÌNSURANCE COMPANY
OF NEW YORK
100%
FEÌN 11-3008245
NAÌC COMPANY CODE
60222-NY
UNÌTED CONCORDÌA
DENTAL PLANS, ÌNC.
100%
FEÌN 52-1542269
NAÌC COMPANY CODE
95253-MD
UNÌTED CONCORDÌA
LÌFE AND HEALTH
ÌNSURANCE COMPANY
100%
FEÌN 23-1661402
NAÌC COMPANY CODE
62294-PA
UNÌTED CONCORDÌA
DENTAL CORPORATÌON
OF ALABAMA
100%
FEÌN 63-1028262
NAÌC COMPANY CODE
47038-AL
UNÌTED CONCORDÌA
DENTAL PLANS OF
KENTUCKY, ÌNC.
100%
FEÌN 61-1012900
NAÌC COMPANY CODE
52048-KY
UNÌTED CONCORDÌA
DENTAL PLANS OF
DELAWARE, ÌNC.
100%
FEÌN 54-1093109
NAÌC COMPANY CODE
96849-MD
UNÌTED CONCORDÌA
DENTAL PLANS OF
ÌLLÌNOÌS, ÌNC.
100%
FEÌN 38-3162263
NAÌC COMPANY CODE
52047-ÌL
UNÌTED CONCORDÌA
DENTAL PLANS OF
FLORÌDA, ÌNC.
100%
FEÌN 65-0243292
NAÌC COMPANY CODE
52020-FL
UNÌTED CONCORDÌA
DENTAL PLANS OF
CALÌFORNÌA, ÌNC.
100%
FEÌN 23-7328765
NAÌC COMPANY CODE
95789-CA
UNÌTED CONCORDÌA
DENTAL PLANS OF
ARÌZONA, ÌNC.
100%
FEÌN 23-2918765
NAÌC COMPANY CODE
52122-AZ
UNÌTED CONCORDÌA
ÌNSURANCE
COMPANY
100%
FEÌN 86-0307623
NAÌC COMPANY CODE
85766-AZ
UNÌTED CONCORDÌA
DENTAL PLANS OF
THE MÌDWEST, ÌNC.
100%
FEÌN 38-2289438
NAÌC COMPANY CODE
96150-MÌ
UNÌTED CONCORDÌA
DENTAL PLANS OF
PENNSYLVANÌA, ÌNC.
100%
FEÌN 23-2541529
NAÌC COMPANY CODE
47089-PA
UNÌTED CONCORDÌA
DENTAL PLANS OF
TEXAS, ÌNC.
100%
FEÌN 74-2489037
NAÌC COMPANY CODE
95160-TX
HCÌ, ÌNC.
100%
FEÌN 75-3002215
NAÌC COMPANY CODE
11435-VT
KEYSTONE HEALTH
PLAN WEST, ÌNC.
100%
FEÌN 25-1522457
NAÌC COMPANY CODE
95048-PA
HEALTHGUARD OF
LANCASTER, ÌNC.
100%
FEÌN 23-2269270
NAÌC COMPANY CODE
95443-PA
HÌGHMARK SENÌOR
RESOURCES ÌNC.
100%
FEÌN 20-2353206
NAÌC COMPANY CODE
10131-PA
HM HEALTH
ÌNSURANCE COMPANY
100%
FEÌN 54-1637426
NAÌC COMPANY CODE
71768-PA
2
FÌRST PRÌORÌTY LÌFE
ÌNSURANCE COMPANY,
ÌNC.
40.1%
FEÌN 23-2905083
NAÌC COMPANY CODE
60147-PA
HM ÌNSURANCE GROUP,
ÌNC.
100%
PA
FEÌN 25-1646315
2
HM LÌFE ÌNSURANCE
COMPANY OF
NEW YORK
100%
FEÌN 25-1800302
NAÌC COMPANY CODE
60213-NY
2
HM CAPTÌVE
ÌNSURANCE COMPANY
100%
FEÌN 65-1274122
NAÌC COMPANY CODE
12720-VT
1
HM LÌFE ÌNSURANCE
COMPANY
100%
FEÌN 06-1041332
NAÌC COMPANY CODE
93440-PA
2
HÌGHMARK CASUALTY
ÌNSURANCE COMPANY
100%
FEÌN 25-1334623
NAÌC COMPANY CODE
35599-PA
HVHC ÌNC.
100%
DE
FEÌN 25-1801124
HÌGHMARK MEDÌCARE
SERVÌCES ÌNC.
100%
PA
FEÌN 20-5296137
1
ALLÌANCE VENTURES,
ÌNC.
100%
PA
FEÌN 25-1645888
HIGHMARK INC.
D/B/A HÌGHMARK BLUE CROSS BLUE SHÌELD
AND HÌGHMARK BLUE SHÌELD
JOÌNTLY CONTROLLED NONPROFÌT AFFÌLÌATES
ÌNTER-COUNTY HEALTH
PLAN, ÌNC.
50%
PA NON PROFÌT
FEÌN 23-2063810
NAÌC COMPANY CODE
53252-PA
HMO OF NORTHEASTERN
PENNSYLVANÌA, ÌNC.
40%
PA NON PROFÌT
FEÌN 23-2413324
NAÌC COMPANY CODE
96601-PA 2
ÌNTER-COUNTY
HOSPÌTALÌZATÌON PLAN, ÌNC
50%
PA NON PROFÌT
FEÌN 23-0724427
NAÌC COMPANY CODE
54763-PA
ECCA HOLDÌNGS
CORPORATÌON
100%
DE
FEÌN 86-1162088
1
VÌVA OPTÌQUE, ÌNC.
100%
NJ
FEÌN 22-2192365
DAVÌS VÌSÌON, ÌNC.
100%
NY
FEÌN 11-3051991
EYEMASTERS, ÌNC.
100%
DE
FEÌN 02-0677066
1
EYE CARE CENTERS
OF AMERÌCA, ÌNC.
100%
TX
FEÌN 74-2337775
1
ECCA
ENTERPRÌSES, ÌNC.
100%
DE
FEÌN 35-2196998
1
STANDARD
PROPERTY
CORPORATÌON
100%
PA
FEÌN 25-1668093
JENKÌNS EMPÌRE
ASSOCÌATES
PARTERNSHÌP
PA
FEÌN 25-1524682
24%
75%
GATEWAY HEALTH
PLAN, L.P.
PA
FEÌN 25-1691945
GATEWAY HEALTH
PLAN, ÌNC.
100%
FEÌN 25-1505506
NAÌC COMPANY CODE
96938-PA
GATEWAY HEALTH
PLAN OF OHÌO, ÌNC.
100%
FEÌN 30-0282076
NAÌC COMPANY CODE
12325-OH
49%
1%
1 Ìndicates an addition
2 Ìndicates a name or NAÌC Company Code change
Indicates a change since previous AnnuaI Statement ScheduIe Y Part 1 fiIing


5
2
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE Y
PART 2 - SUMMARY OF INSURER'S TRANSACTIONS WITH ANY AFFILIATES
1
NAÌC
Company
Code
2
Federal ÌD
Number
3
Names of Ìnsurers and Parent, Subsidiaries or Affiliates
4
Shareholder
Dividends
5
Capital
Contributions
6
Purchases, Sales or
Exchanges of
Loans, Securities,
Real
Estate, Mortgage
Loans or Other
Ìnvestments
7
Ìncome/
(Disbursements)
Ìncurred in
Connection with
Guarantees or
Undertakings for the
Benefit of any
Affiliate(s)
8
Management
Agreements and
Service Contracts
9
Ìncome/
(Disbursements)
Ìncurred Under
Reinsurance
Agreements
10
*
11
Any Other Material
Activity Not in the
Ordinary Course of
the Ìnsurer's
Business
12
Totals
13
Reinsurance
Recoverable/
(Payable) on Losses
and/or Reserve
Credit
Taken/(Liability)
95J+º 25-¹522+5ì /eys!cre dea¹!| ²¹ar les! ¹rc ¸¹ì93c23++) ¸c3+Jº5¹9) ¸2+2ììJºc3)
35599 25-¹33+c23 d·ç|ªar| ´asca¹!y ¹rscrarce ´cª,ary ¸23ºì32ì) ¸23ºì32ì) ¸º¹)
93++J ¹c-¹J+¹332 d\ |·!e ¹rscrarce ´cª,ary 23ºì32ì 23ºì32ì º¹
25-¹c+5ººº |¹¹·arce \er!cres ¹rc ¸39JJJJJ) 2JJJJ ¸3ººJJJJ)
25-¹ºJJ¹2+ d\d´ ¹rc 225JJJJJJ 225JJJJJJ
¹¹+35 ì5-3JJ22¹5 d´¹ ¹rc ¸¹cºJ5) 23J9ìJ 2¹+¹c5
º9JìJ 25-¹cºì5ºc Jr·!ed ´crccrd·a ´cª,ar·es ¹rc ¹2JJJJJJ ¸º99+99) ¸¹52º¹52) ¸355+5+¹) cJ¹ìºJº
º5ìcc ºc-J3Jìc23 Jr·!ed ´crccrd·a ¹rscrarce ´cª,ary ¸2¹º3552J) ¸59J5+¹+) ¸3J3952J) ¸3JìºJ+5+)
c229+ 23-¹cc¹+J2 Jr·!ed ´crccrd·a |·!e \ dea¹!| ¹rs ´c ¸¹2JJJJJJ) ¸3¹¹29ì22) 59J5+¹+ ¸¹ìº5ºì5ì) ¸55Jº3Jc5)
+ìJ9º 23-25+¹529 Jr·!ed ´crccrd·a Jer!a¹ ²¹ars c! ²| ¸5º29º¹º) ¸9+J¹Jc) ¸cìc992+)
95253 52-¹5+22c9 Jr·!ed ´crccrd·a Jer!a¹ ²¹ars ¸3¹2º2ì5) ¸cºº95º) ¸3º¹ì233)
95ìº9 23-ì32ºìc5 Jr·!ed ´crccrd·a Jer!a¹ ²¹ars c! ´| ¸95¹c5J) 259c39 ¸c92J¹¹)
9c¹5J 3º-22º9+3º Jr·!ed ´crccrd·a Jer!a¹ ²¹ars c! \l ìcº2ºì ¸ccì953) 2ìì53c 3ììºìJ
+ìJ3º c3-¹J2º2c2 Jr·!ed ´crccrd·a Jer!a¹ ´cr, c! || ¸ìJºc9¹) ¸¹9¹¹2J) ¸º99º¹¹)
cJ222 ¹¹-3JJº2+5 Jr·!ed ´crccrd·a ¹rscrarce ´c c! \\ ¸c59+23) ¸22ì5+) ¸cº2¹ìì)
9cº+9 5+-¹J93¹J9 Jr·!ed ´crccrd·a Jer!a¹ ²¹ars c! Jc ¸c+232) ¸¹c9J3) ¸º¹¹35)
52J+º c¹-¹J¹29JJ Jr·!ed ´crccrd·a Jer!a¹ ²¹ars c! /\ 3J5º+ ¸¹3¹¹ìº) +9+c2 ¸5¹¹32)
95¹cJ ì+-2+º9J3ì Jr·!ed ´crccrd·a Jer!a¹ ²¹ars c! ¯\ 9º+3+ ¸c335ì) 2c53¹ c¹cJº
52J+ì 3º-3¹c22c3 Jr·!ed ´crccrd·a Jer!a¹ ²¹ars c! ¹| ¸2ì533) ¹53ì+ ¸¹2¹59)
52J2J c5-J2+3292 Jr·!ed ´crccrd·a Jer!a¹ ²¹ars c! ¯| ¸52¹53) 2¹59ì ¸3J55c)
52¹22 23-29¹ºìc5 Jr·!ed ´crccrd·a Jer!a¹ ²¹ars c! |Z 2¹9+ ¸2ì¹2+) º9¹3 ¸¹cJ¹ì)
95++3 23-22c92ìJ dea¹!|Jcard c! |arcas!er ¹rc ¸¹+º¹+5º) 3JccºJ9 ¹5º535¹
53252 23-2Jc3º¹J ¹r!er-´ccr!y dea¹!| ²¹ar ¹rc ¸¹33º) ¸9JJºì5) ¸9J22¹3) ¸+2c+353)
25-¹c9¹9+5 Ja!e«ay dea¹!| ²¹ar |² ¸5JJJJJJ) ¸5JJJJJJ)
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2J-529c¹3ì d·ç|ªar| \ed·care Serv·ces ºJJJJJJ ºJJJJJJ
ì¹ìcº 5+-¹c3ì+2c d\ dea¹!| ¹rscrarce ´cª,ary ¸32¹¹259) ¸955º9) ¸33Jcº+º)
9ccJ¹ 23-2+¹332+ d\´ c! \cr!|eas! ²errsy¹var·a 5JJJJJ 5JJJJJ
5+ìì¹ 23-¹29+ì23 d·ç|ªar| ¹rc º9JJJJJ ¸2c+52JJJJ) 2ìºcc3ì9ì 9JJºì5 ìccJc2ì9 ¹JJ55J95¹ +2c+353
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5
3
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SUPPLEMENTAL EXHIBITS AND SCHEDULES INTERROGATORIES
The following supplemental reports are required to be filed as part of your statement filing unless specifically waived by the domiciliary state. However, in the event that your
domiciliary state waives the filing requirement, your response of WAIVED to the specific interrogatory will be accepted in lieu of filing a "NONE" report and a bar code will be printed
below. Ìf the supplement is required of your company but is not filed for whatever reason enter SEE EXPLANATION and provide an explanation following the interrogatory
questions.
MARCH FILING Responses
1. Will the Supplemental Compensation Exhibit be filed with the state of domicile by March 1? \cS
2. Will an actuarial opinion be filed by March 1? \cS
3. Will the Risk-based Capital Report be filed with the NAÌC by March 1? \cS
4. Will the Risk-based Capital Report be filed with the state of domicile, if required by March 1? \cS
APRIL FILING
5. Will Management's Discussion and Analysis be filed by April 1? \cS
6. Will the Supplemental Ìnvestment Risks Ìnterrogatories be filed by April 1? \cS
7. Will the Accident and Health Policy Experience Exhibit be filed by April 1? \cS
JUNE FILING
8. Will an audited financial report be filed by June 1? \cS
The following supplemental reports are required to be filed as part of your statement filing. However, in the event that your company does not transact the type of business for
which the special report must be filed, your response of NO to the specific interrogatory will be accepted in lieu of filing a "NONE" report and a bar code will be printed below. Ìf the
supplement is required of your company but is not filed for whatever reason enter SEE EXPLANATION and provide an explanation following the interrogatory questions.
MARCH FILING
9. Will the Medicare Supplement Ìnsurance Experience Exhibit be filed with the state of domicile and the NAÌC by March 1? \´
10. Will the Supplemental Life data due March 1 be filed with the state of domicile and the NAÌC? \´
11. Will the Supplemental Property/Casualty data due March 1 be filed with the state of domicile and the NAÌC? \´
12. Will the Schedule SÌS (Stockholder Ìnformation Supplement) be filed with the state of domicile by March 1? \´
13. Will the Medicare Part D Coverage Supplement be filed with the state of domicile and the NAÌC by March 1? Scc c\²||\|¯¹´\
APRIL FILING
14. Will the Long-Term Care Experience Reporting Forms be filed with the state of domicile by April 1? \´
15. Will the Supplemental Life data due April 1 be filed with the state of domicile and the NAÌC? \´
16. Will the Supplemental Property/Casualty Ìnsurance Expense Exhibit due April 1 be filed with any state that requires it, and, if so, the NAÌC? \´
EXPLANATION:
9
¹J
¹¹

¹2

¹3 ¯|e ´cr,cra!·cr ·s rc! a ²ar! J-cr¹y ,rcv·der

¹+

¹5

¹c
BAR CODE:
9.
3[H$NMJ$$#m#$H[$$$3
10.
3[H$NMJ$$#J$H$$$$$3
11.
3[H$NMJ$$#J$N$$$$$3
12.
3[H$NMJ$$#NJ$$$$$$3
14.
3[H$NMJ$$#mm$H[$$$3
15.
3[H$NMJ$$#JHHH[$$$3
16.
3[H$NMJ$$#JHm$$$$$3
54
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
Schedule A - Part 1
NONE
Schedule A - Part 2
NONE
Schedule A - Part 3
NONE
Schedule B - Part 1
NONE
Schedule B - Part 2
NONE
E01, E02, E03, E04, E05
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE BA - PART 1
Showing Other Long-Term Invested Assets OWNED December 31 of Current Year
1 2 3 Location 6 7 8 9 10 11 12 13 14 15 16 17 18 19
CUSÌP
Ìdentification Name or Description Code
4
City
5
State
Name of
Vendor or
General Partner
NAÌC
Desig-
nation
Date
Originally
Acquired
Type
and
Strategy
Actual
Cost
Additional
Ìnvestment
During
Year
Actual
Cost
Fair
Value
Amount of
Encumbrances
Book/Adjusted
Carrying Value
Less
Encumbrances
Ìncrease
(Decrease)
by Adjustment
Ìncrease
(Decrease) by
Foreign
Exchange
Adjustment
Ìnvestment
Ìncome
Commitment
for
Additional
Ìnvestment
Percentage
use
of
Ownership
292¹ì¸-¹J-c
cª,¹cyee Jere!·! Ja!a
Serv·ces ´cª,ary ²·!!s|crç| ²errsy¹var·a ²|\´´ Jº:J¹:2JJc ¹3 ìc++2ì3 º3º2+¹5 ì3º¹+2 99JJJ
3c99999 - |ry ´!|er ´¹ass c! |sse!s - |!!·¹·a!ed ìc++2ì3 º3º2+¹5 ì3º¹+2 \\\
3799999 - Total Unaffiliated \\\
3899999 - Total Affiliated ìc++2ì3 º3º2+¹5 ì3º¹+2 \\\
3999999 Totals ìc++2ì3 º3º2+¹5 ì3º¹+2 \\\
E
0
6
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE BA - PART 2
Showing Other Long-Term Invested Assets SOLD, Transferred or Paid in FuII During the Year
1 2 Location 5 6 7 8 9 10 11 12 13 14 15
CUSÌP
Ìdentification Name or Description
3
City
4
State
Name of Purchaser or
Nature of Disposal
Date
Originally
Acquired
Book/Adjusted
Carrying
Value Less
Encumbrances,
Prior Year
Ìncrease
(Decrease)
by Adjustment
Ìncrease
(Decrease) by
Foreign Exchange
Adjustment
Book/Adjusted
Carrying Value
Less
Encumbrances on
Disposal
Consideration
Received
Foreign Exchange
Gain (Loss)
on Disposal
Realized
Gain (Loss)
on Disposal
Total
Gain (Loss)
on Disposal
Ìnvestment
Ìncome
3799999 ÷ Unaffiliated Totals
3899999 ÷ Affiliated Totals
3999999 Totals
E
0
7
NONE
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 1
Showing aII Long-Term BONDS Owned December 31 of Current Year
1 2 Codes 6 7 Fair Value 10 11 Change in Book Adjusted Carrying Value Ìnterest Dates
3 4 5 8 9 12 13 14 15 16 17 18 19 20 21 22
CUSÌP
Ìdentification Description *
F
o
r
e
i
g
n
Bond
CHAR
NAÌC
Designation Actual Cost
Rate Used
to Obtain
Fair Value Fair Value Par Value
Book/Adjusted
Carrying Value
Unrealized
Valuation
Ìncrease/
(Decrease)
Current Year's
(Amortization)/
Accretion
Current Year's
Other Than
Temporary
Ìmpairment
Recognized
Total Foreign
Exchange
Change in
B./A.C.V. Rate of
Effective
Rate of How Paid
Admitted
Amount Due &
Accrued
Gross Amt.
Rec. During
Year Acquired Maturity
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3¹2º\+-¯Z-c ¯cJc¯|| d´\c |´|\ \¯J ´´¯² ¹ ¹ +995cJJ 99¹ì3J +95ºc5+ 5JJJJJJ +99c59+ J º2ì J J 5JJJ 5J2J |´ 5Jc9+ 25JJJJ ¹J:2¹:2JJ5 ¹J:¹º:2J¹J
3¹2º\+-lì-2 ¯cJc¯|| d´\c |´|\ \¯J ´´¯² \¯S ¹ ¹ 3+23¹ì5 ¹JJ3ºJJ 35¹33JJ 35JJJJJ 3+2c9cc J 3ì9¹ J J 55JJ 5ì95 \S +9ì29 9c25J J5:3J:2JJc J3:2º:2J¹c
3¹2º\5-|²-¹ ¯cJc¯|| d´\c |´|\ \¯J ´´¯² \¯S ¹ ¹ +993ì5J 995ºJJ +9ì9JJJ 5JJJJJJ +9939º3 J 233 J J 525J 52ìº |´ c¹9ì9 J ¹¹:¹5:2JJc ¹J:Jc:2J¹¹
3¹2º\5-\¯-¹ ¯cJc¯|| d´\c |´|\ \¯J ´´¯² \¯S ¹ ¹ +J¹¹cJJ 99ºJìJ 399229¹ +JJJJJJ +J¹J9ì¹ J ¸c29) J J 535J 5¹93 \\ 2ì939 J ¹¹:2J:2JJc ¹¹:¹+:2JJº
3¹2º\5-¯J-2 ¯cJc¯|| d´\c |´|\ \¯J ´´¯² \¯S ¹ ¹ ¹JJJJJJ 9ììºJJ 9ììºJJ ¹JJJJJJ ¹JJJJJJ J J J J cJJJ cJJJ .J ¹º33 J ¹2:Jº:2JJc ¹2:2J:2J2¹
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3¹33\J-.J-9 ¯cJc¯|| d´\c |´|\ J|\/ ¹ +92+29J 9ºì5JJ +93ì5JJ 5JJJJJJ +939Jcº J ¹+ììº J J +¹25 5¹¹¹ |´ +¹º23 ¹J3¹25 J9:Jc:2JJc J+:¹º:2JJº
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3¹33\¯-J2-9 ¯cJc¯|| d´\c |´|\ J|\/ ¹ ¹ 99cì¹JJ ¹JJ53JJ ¹JJ53JJJ ¹JJJJJJJ 99cºº5+ J ¹ì5+ J J cJJJ cJ++ |´ ¹¹JJJJ 3JJJJJ J5:J3:2JJc J+:25:2J¹c
3¹33\J-.l-5 ¯cJc¯|| d´\c |´|\ J|\/ ¹ ¹ 5JJJJJJ ¹JJ3¹JJ 5J¹55JJ 5JJJJJJ 5JJJJJJ J J J J 5º¹5 5º¹5 ¯| ¹J+993 J Jº:Jì:2JJc Jº:2¹:2J¹3
3¹33\J-\.-9 ¯cJc¯|| d´\c |´|\ J|\/ J|´J|| \¯S ¹ 99ººcJJ ¹JJ225J ¹JJ225JJ ¹JJJJJJJ 99º9+95 J º95 J J 5JJJ 5J+¹ \S ¹+3J5c J ¹J:25:2JJc J9:¹º:2JJ9
3¹33\d-cd-¹ ¯cJc¯|| d´\c |´|\ J|\/ J|´J|| \¯S ¹ ¹ ¹5J25JJJ 99ìºJJ ¹+9cìJJJ ¹5JJJJJJ ¹5J2+5¹ì J ¸+º3) J J 55JJ 5+35 |´ ¹c5JJJ J ¹2:Jì:2JJc ¹J:¹9:2JJ9
3¹33\d-¯|-5 ¯cJc¯|| d´\c |´|\ J|\/ J´\JS ¹ ¹ 29º39ºJ 99c55J 29º9c5J 3JJJJJJ 29º5J2ì J ¹J+ì J J 5JJJ 5¹95 |´ 3¹25J J ¹J:¹c:2JJc ¹J:¹c:2JJ9
3¹33\d-S9-+ ¯cJc¯|| d´\c |´|\ J|\/ J´\JS ¹ ¹ 399+52J 99ì+¹J 39º9c3º +JJJJJJ 399+ì+ì J 22ì J J 525J 53JJ \\ 2ì+¹ì J ¹¹:Jc:2JJc ¹¹:¹3:2JJ9
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8
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 1
Showing aII Long-Term BONDS Owned December 31 of Current Year
1 2 Codes 6 7 Fair Value 10 11 Change in Book Adjusted Carrying Value Ìnterest Dates
3 4 5 8 9 12 13 14 15 16 17 18 19 20 21 22
CUSÌP
Ìdentification Description *
F
o
r
e
i
g
n
Bond
CHAR
NAÌC
Designation Actual Cost
Rate Used
to Obtain
Fair Value Fair Value Par Value
Book/Adjusted
Carrying Value
Unrealized
Valuation
Ìncrease/
(Decrease)
Current Year's
(Amortization)/
Accretion
Current Year's
Other Than
Temporary
Ìmpairment
Recognized
Total Foreign
Exchange
Change in
B./A.C.V. Rate of
Effective
Rate of How Paid
Admitted
Amount Due &
Accrued
Gross Amt.
Rec. During
Year Acquired Maturity
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ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 1
Showing aII Long-Term BONDS Owned December 31 of Current Year
1 2 Codes 6 7 Fair Value 10 11 Change in Book Adjusted Carrying Value Ìnterest Dates
3 4 5 8 9 12 13 14 15 16 17 18 19 20 21 22
CUSÌP
Ìdentification Description *
F
o
r
e
i
g
n
Bond
CHAR
NAÌC
Designation Actual Cost
Rate Used
to Obtain
Fair Value Fair Value Par Value
Book/Adjusted
Carrying Value
Unrealized
Valuation
Ìncrease/
(Decrease)
Current Year's
(Amortization)/
Accretion
Current Year's
Other Than
Temporary
Ìmpairment
Recognized
Total Foreign
Exchange
Change in
B./A.C.V. Rate of
Effective
Rate of How Paid
Admitted
Amount Due &
Accrued
Gross Amt.
Rec. During
Year Acquired Maturity
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3¹39+J-\2-J ¯\\| ¯c\¹´ Sc¯ 2JJ5-5J ´| ²/ 2 ¹ 2JJc25J 993ºcJ ¹9ºìì2J 2JJJJJJ 2JJ3ì9¹ J ¸2¹º3) J J 55JJ 5+¹º \´\ 9¹cì ¹¹JJJJ ¹¹:¹J:2JJ5 J¹:25:2J¹2
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ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 1
Showing aII Long-Term BONDS Owned December 31 of Current Year
1 2 Codes 6 7 Fair Value 10 11 Change in Book Adjusted Carrying Value Ìnterest Dates
3 4 5 8 9 12 13 14 15 16 17 18 19 20 21 22
CUSÌP
Ìdentification Description *
F
o
r
e
i
g
n
Bond
CHAR
NAÌC
Designation Actual Cost
Rate Used
to Obtain
Fair Value Fair Value Par Value
Book/Adjusted
Carrying Value
Unrealized
Valuation
Ìncrease/
(Decrease)
Current Year's
(Amortization)/
Accretion
Current Year's
Other Than
Temporary
Ìmpairment
Recognized
Total Foreign
Exchange
Change in
B./A.C.V. Rate of
Effective
Rate of How Paid
Admitted
Amount Due &
Accrued
Gross Amt.
Rec. During
Year Acquired Maturity
+93Jc´-|d-+ /c\ J|\/ \| SJJ \¯S ¹¯c 2J5ìì2J ¹J¹+53J 2J29JcJ 2JJJJJJ 2J53¹35 J ¸+5º5) J J 5ºJJ 53c5 .. 5ºJJJ 5ºJJJ J2:23:2JJc Jì:J¹:2J¹+
52+9J¹-|d-º |cJJ \|S´\ ¹\´ ¹¯c ¹+959c5 ¹J¹9º+J ¹529ìcJ ¹5JJJJJ ¹+9º9cº J c3¹ J J cì5J cì99 .. 5J3++ ¹J¹25J Jc:2ì:2JJ¹ Jì:J2:2JJº
52+9Jº-´\-J |cd\|\ J¯´S d|JJ ¹¯c 5+3ì5J ¹Jì9cºJ 539º+J 5JJJJJ 5+J22ì J ¸3523) J J ìºì5 5399 ¯| ¹+ºì5 J Jº:2¹:2JJc Jº:¹5:2J¹J
525¹ì²-J9-c |cd\|\ J¯´S d|JJ Sc¯ d \¯\ ¹ ¹¯c 2+9º+JJ ¹J¹9cºJ 25+92JJ 25JJJJJ 2+9º59+ J ¹9+ J J 5ì5J 5ìc5 |´ 2c35+ 칺ì5 J+:2J:2JJc J+:25:2J¹¹
59J¹ºº-+\-ì \c¯¯¹|| |\\´d \ ´´ SJJ \¯S ¹¯c 2+999JJ ¹J35JJJ 25ºì5JJ 25JJJJJ 25JJJJc J ¹Jc J J cJ5J cJ5J \\ ¹º9Jc ì5c25 J5:3¹:2JJc J5:¹c:2J¹c
59J¹ºº-.²-+ \c¯¯¹|| |\\´d \ ´´ ¹¯c ¹+ì33cJ ¹J¹c25J ¹52+3ì5 ¹5JJJJJ ¹+9¹3ºJ J 3cìº J J cJJJ c293 ¯| 335JJ 9JJJJ Jc:J5:2JJ¹ J2:¹ì:2JJ9
59J¹º\-Jd-2 \c¯¯¹|| |\\´d \ ´´ \¯\ Sc¯ ´ ¹¯c +º35+5 9ì3+3J +ºcì¹5 5JJJJJ +º535ì J ¹º¹2 J J +¹25 53J9 \S c359 ¹J3¹3 Jº:2¹:2JJc J9:¹J:2JJ9
c3ì+32-´\-5 \|¯| ¯J¯|| J¯¹| ¯¹\|\´c ¹¯c 5J+ì25 ¹J¹23+J 5Jc¹ìJ 5JJJJJ 5J+¹92 J ¸533) J J 5ì5J 5+Jì ¯| 9º23 ¹+3ì5 Jº:¹+:2JJc Jº:2º:2JJ9
cº+J2|-|´-º ´¯|´|c ´´¯² \¯S ¹¯c ¹99c+25 9ìº9JJ ¹95ìºJJ 2JJJJJJ ¹99ccº+ J 259 J J 525J 52ì3 .. +º+¹ì 53Jº3 Jc:¹3:2JJc J¹:¹5:2J¹c
cº+J2|-|c-+ ´¯|´|c ´´¯² \¯S ¹¯c +9¹555 99JJJJ +95JJJ 5JJJJJ +92¹ºº J c33 J J 5JJJ 5+3c .. ¹¹52º J Jº:2¹:2JJc J¹:¹5:2J¹¹
c93+ì/-d\-ì ²\´ J|\/ \| ¯|\Jc \¯ ¹ ¹¯c ¹JJJJJJ 995JJJ 995JJJ ¹JJJJJJ ¹JJJJJJ J J J J ìJJJ ìJJJ .J 2¹39 J ¹2:Jì:2JJc ¹2:2J:2J¹3
ìJc+5¹-|J-ì ²c\c\ ²¯´. ¯JJ \|S¯c¯ ¯¯JS¯ \¯S 2¯c 55ì25J ¹¹2¹5cJ 5cJìºJ 5JJJJJ 552cìº J ¸+5ì2) J J 9¹25 59c9 |´ 9ºº5 22º¹3 Jº:¹+:2JJc ¹J:¹3:2J¹J
ìº++2¯-JJ-¹ S|\ ´´¯² ¹¯c +25JJJ 9¹ºì5J 39J+c9 +25JJJ +25JJJ J J J J +ºJ3 JJ¹º \´\ ¹ì3+ c3º3 ¹¹:J9:2JJ+ ¹2:¹5:2J¹+
ìº++2¯-cc-+ S|\ ´´¯² Sc¯ | ¯|¯ ¯|¯c \¯\ ¹¯c 225cì25 ¹JJJìºJ 225¹ì55 225JJJJ 225ccc9 J ¸5ì) J J 5cJ¹ 552J .|.´ 2¹ìJ+ J ¹2:Jº:2JJc ¹J:25:2J¹¹
º2ººJì-Jc-c S¹\´\ ²¯´²c¯¯\ J¯´J² |² \¯S ¹¯c +ºìº+J 9ºc+JJ +932JJ 5JJJJJ +ºº92J J ¹JºJ J J +ºì5 5559 ¯| 92Jº ¹2¹ºº Jº:Jì:2JJc Jº:¹5:2J¹J
ººì3¹ì-|J-¹ ¯¹\c l|¯\c¯ ¹\´ \¯S 2¯c 22+º25 99ì5JJ 22++3º 225JJJ 22+º29 J + J J 55JJ 55¹º \\ ¹c5J J ¹¹:Jº:2JJc ¹¹:¹5:2J¹¹
º9233²-ZZ-2
¯´\´¯| \´¯´¯ ´¯cJ¹¯ ´´¯² ¯|¯ ¯|¯c
¯|\Jc ¹ ¹¯c 225JJJJ ¹JJJJJJ 225JJJJ 225JJJJ 225JJJJ J J J J ì¹JJ ìJ99 \\ ¹3ì5c J ¹2:Jc:2JJc ¹¹:3J:2J2¹
9J+ìc+-|J-2 J\¹|c\c¯ ´|² ´´¯² ¹¯c 2J¹ì3cJ ¹Jc2¹ºJ 2¹2+3cJ 2JJJJJJ 2JJº2cì J ¸¹º23) J J ì¹25 ìJJJ \\ 23ì5J ¹+25JJ ¹2:J+:2JJJ ¹¹:J¹:2J¹J
9¹9¹3\-|J-2 \||c¯´ c\c¯J\ ´´¯² S¯ \¯S 2¯c 52+9ºJ ¹J5ì3+J 52ºcìJ 5JJJJJ 523cJì J ¸¹3ì3) J J cºì5 5º2+ |´ ì25ì ¹ì¹ºº Jº:¹+:2JJc J+:¹5:2J¹2
9299J3-|J-+ l|´d´\¹| ´´¯² ¹¯c +º¹+cJ 9cº2ºJ +º+¹+J 5JJJJJ +º39cc J 25Jc J J 3c25 523º ¯| cì+ì J Jº:2¹:2JJc J2:¹ì:2JJ9
9299J3-´¯-ì l|´d´\¹| ´´¯² S¯ \¯S ¹¯c 3993+ºJ 99953J 399º¹2J +JJJJJJ 3993cº2 J 2J2 J J 53JJ 533º |´ +JJ++ J ¹J:¹º:2JJc ¹J:¹5:2J¹¹
93¹¹+2-Jc-2 l|| \|¯¯ S¯´¯cS ¹¯c 52JJì5 ¹J+¹ºìJ 52J935 5JJJJJ 5¹ìì39 J ¸233c) J J cºì5 539º ¯| ¹3+c+ J Jº:¹+:2JJc Jº:¹J:2JJ9
9+9ì+c-´c-9 lc||S ¯|¯J´ \ ´´ ¹¯c ¹995¹ºJ ¹J+칺J 2J9+3cJ 2JJJJJJ ¹99ì+¹3 J +cº J J c3ì5 c+Jº ¯| 53¹25 ¹2ì5JJ Jì:25:2JJ¹ Jº:J¹:2J¹¹
¹3c3º5-|J-ì ´|\|J¹|\ \|¯J¯|| ¯cS´J¯´cS \¯S ¯ 2¯c 52ìc5J ¹J+2J3J 52¹J¹5 5JJJJJ 525ì2c J ¸¹92+) J J cìJJ 5+Jc .. ¹5++ì J Jº:Jì:2JJc Jì:¹5:2J¹¹
º225º2-||-J Sdc|| ¹\¯c¯\|¯¹´\|| ¯¹\ S¯ \¯S ¯ ¹¯c 3ì5¹¹5J ¹J2J¹cJ 3º25cJJ 3ì5JJJJ 3ì5¹¹2¹ J ¸2ì) J J 5c25 5c¹ì .J 23++ ¹J5+c9 Jì:¹2:2JJc Jc:2ì:2J¹¹
3999999 - ¯c!a¹ Jcrds - ¹rdcs!r·a¹ \·sc - ¹sscer ´|¹·ça!·crs ìcº+ì3º3 \\\ ìì353ì¹3 ìc+JJJJJ ìcì¹JJ+c J ¸3552+) J J \\\ \\\ \\\ ¹¹J¹¹¹5 2Jº23ì¹ \\\ \\\
J59+9|-l9-ì
J|\´ ´¯ |\c¯¹´| \¯J Sc´ Sc¯ 2JJ5-J
´| 2| 2 ¹¯c ¹9ì3c23 9ì53ºJ ¹9+++ìº ¹993559 ¹9ì3c+5 J 22 J J +392 ++55 \´\ ì29ì J ¹2:Jì:2JJc J3:25:2J35
JcJ5Jd-.d-2
J|\/|\c¯¹´| \¯J Sc´ Sc¯ 2JJ2-c ´|
|¹ 2 ¹¯c +59º ¹JJìº2J +5J¹ ++cc +5º+ J ¸¹) J J c9+3 cì¹J \´\ 9 ì9 ¹2:J2:2JJ2 Jc:2J:2J3¹
225+5º-|+-º
´S ¯¹¯S¯ J´S¯´\ \¯J Sc´ ´´¯² Sc¯
2JJ5-ì 2 ¹¯c 2º¹cºìì 993J2J 2ì9cììº 2º¹c+3ì 2º¹+c9+ J ¸¹c22) J J 525J 5¹ì9 \´\ ¹2322 ¹+ìº5ì ¹J:J3:2JJ5 Jº:25:2J¹3
3c233+-J´-5
JS¯ \´¯¯J|Jc |´|\ ¯¯JS¯ Sc¯ 2JJc-2¯
´| 2 2 ¹¯c ¹9ìº+3º ¹JJ3J9J 2JJc¹ºJ 2JJJJJJ ¹9ìº599 J ¹c¹ J J 5ì5J 5º¹+ \´\ 95º3 5ì5JJ Jc:¹+:2JJc J2:25:2J3c
92922ì-+J-5
l|Sd¹\J¯´\ \J¯J|| Sc¯ 2JJ3-|¯c ´|
|¹ 2 ¹¯c ¹+5J2+9 995+9J ¹+223ì2 ¹+2ºº¹c ¹+3992º J ¸¹¹) J J +339 3c5¹ \´\ ¹J33 c2JJº J5:J¹:2JJ3 Jc:J¹:2J33
9+9º+¯-|c-9
lc||S ¯|¯J´ \JS ¯¯JS¯ Sc¯ 2JJc-¹¹
´| |5 2 ¹¯c 3+ºJº59 ¹JJ2J5J 35Jì¹ì5 35JJJJJ 3+º¹+ìì J c¹9 J J cJJJ cJ¹2 \´\ ¹ì5JJ c99º9 Jº:J9:2JJc J9:25:2J3c
+¹99999 - ¯c!a¹ Jcrds - ¹rdcs!r·a¹ \·sc - Je!·red \c¹!·-´¹ass ¯es·der!·a¹ \cr!çaçe-
Jac|ed Seccr·!·es ¹¹ìJ+c++ \\\ ¹¹cº¹+º+ ¹¹ì+32ìº ¹¹c9292ì J ¸º32) J J \\\ \\\ \\\ +ìì++ 33ì+33 \\\ \\\
ºJ3º2S-´¯-ì
¯¹¯S¯ ¯¯|\/|¹\ \¹\ ¯¯JS¯ Sc¯ 2JJ+-
¯¯ì| 2 J J J J J J J 5JJJ JJJJ \´\ J ì5 J9:2ì:2J3+
+299999 - ¯c!a¹ Jcrds - ¹rdcs!r·a¹ \·sc - ´!|er \c¹!·-´¹ass ¯es·der!·a¹ \cr!çaçe-
Jac|ed Seccr·!·es J \\\ J J J J J J J \\\ \\\ \\\ J ì5 \\\ \\\
¹ì3J9J-|J-9
´¹¯¹J¯´J² ´´\\c¯´¹|| \¯J ¯¯JS¯ Sc¯
2JJc- 2 ¹¯c +9ìcc25 ¹J2+c5J 5¹2325J 5JJJJJJ +9ìc9ì2 J 3+ì J J 5ì2J 5ì+9 \´\ 23º35 ¹+5392 Jc:22:2JJc J3:¹5:2J+9
225+5\-|´-¹
´¯cJ¹¯ SJ¹SSc \´¯¯J|Jc ´|² Sc¯
2JJc-´+ ´ 2 ¹¯c cJ3JJJ ¹J¹J3cJ cJc2¹c cJJJJJ cJ29ì+ J ¸2c) J J 5+39 53ì9 \´\ 2ì2J º¹59 J9:2¹:2JJc J9:¹5:2J39
c¹ì5Jl-|\-¹
\´¯J|\ S¯|\|c\ ´|²¹¯|| ¹ Sc¯ 2JJc-
¹J¹2 2 ¹¯c +ºìc33 99ì2+J +º3cc¹ +º5JJJ +ºìc3J J ¸3) J J 5332 52ì+ \´\ 2¹55 J ¹2:¹+:2JJc ¹2:¹5:2J+3
+399999 - ¯c!a¹ Jcrds - ¹rdcs!r·a¹ \·sc - Je!·red \c¹!·-´¹ass ´cªªerc·a¹ \cr!çaçe-
Jac|ed Seccr·!·es cJcì25º \\\ c2¹3¹2ì cJº5JJJ cJcì5ìc J 3¹º J J \\\ \\\ \\\ 2ºì¹J ¹5355¹ \\\ \\\
¹9+2c2-|\-9
´´||cJc |´|\ ´´¯² ¯¯ Sc¯ 2JJ2-2 ´|
|2¹ ¹¯c 225JJJJ ¹JJJJJJ 225JJJJ 225JJJJ 225JJJJ J J J J 532J 532J \.SJ 2952 ºººº ¹2:J5:2JJc J3:J¹:2J+2
+¹2º3|-´c-ì
d|¯|c\-J|\¹JS´\ \:´ ¯¯ Sc¯ 2JJc-¹
|2 2 ¹¯c 2ì993ì3 99ì9ìJ 2ì9+3¹c 2ºJJJJJ 2ì99++J J cc J J 5J+J 5¹J¹ \´\ c2ì2 ¹¹+Jì2 J2:¹c:2JJc ¹J:¹5:2J¹2
+29º2ì-|\-º
d¹Jdc¯ cJJ´|¯¹´\ ¯J\J¹\J Sc¯ 2JJ+-¹
´| ¹¯c ¹5JJJJJ ¹JJJJJJ ¹5JJJJJ ¹5JJJJJ ¹5JJJJJ J J J J 532J 532J ¯\|\ 2¹ºc c¹33 ¹2:J5:2JJc J¹:J¹:2J++
++99999 - ¯c!a¹ Jcrds - ¹rdcs!r·a¹ \·sc - ´!|er \c¹!·-´¹ass ´cªªerc·a¹ \cr!çaçe-
Jac|ed:|sse!-Jac|ed Seccr·!·es c5+93ì3 \\\ c5++3¹c c55JJJJ c5+9++J J cc J J \\\ \\\ \\\ ¹¹+¹J ¹29J93 \\\ \\\
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3
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 1
Showing aII Long-Term BONDS Owned December 31 of Current Year
1 2 Codes 6 7 Fair Value 10 11 Change in Book Adjusted Carrying Value Ìnterest Dates
3 4 5 8 9 12 13 14 15 16 17 18 19 20 21 22
CUSÌP
Ìdentification Description *
F
o
r
e
i
g
n
Bond
CHAR
NAÌC
Designation Actual Cost
Rate Used
to Obtain
Fair Value Fair Value Par Value
Book/Adjusted
Carrying Value
Unrealized
Valuation
Ìncrease/
(Decrease)
Current Year's
(Amortization)/
Accretion
Current Year's
Other Than
Temporary
Ìmpairment
Recognized
Total Foreign
Exchange
Change in
B./A.C.V. Rate of
Effective
Rate of How Paid
Admitted
Amount Due &
Accrued
Gross Amt.
Rec. During
Year Acquired Maturity
+599999 - ¯c!a¹ - ¹rdcs!r·a¹ ard \·sce¹¹areccs Jcrds ¹J¹¹cºc5º \\\ ¹J¹ì92c+J ¹JJììº2ìº ¹J¹J¹99º9 J ¸359ì2) J J \\\ \\\ \\\ ¹¹ºº9ì9 2ìJ2523 \\\ \\\
5+99999 - ¯c!a¹ - ¹sscer ´|¹·ça!·crs 3J3º2¹¹¹ì \\\ 3J+335º2c 3J++¹5JJJ 3J3c9º5+3 ¸2¹325) c+92ì J J \\\ \\\ \\\ 3cìJ9ìì cc+9º+3 \\\ \\\
5599999 - ¯c!a¹ - S·rç¹e ´¹ass \cr!çaçe-Jac|ed:|sse!-Jac|ed Seccr·!·es ¹JJJìºì32 \\\ 99JcìºJº 99325+¹+ ¹JJJ¹2923 J ¸29¹ìì) J J \\\ \\\ \\\ +c5ì2+ 3ì3cºº5 \\\ \\\
5c99999 - ¯c!a¹ - Je!·red \c¹!·-´¹ass ¯es·der!·a¹ \cr!çaçe-Jac|ed Seccr·!·es 2º+3+333 \\\ 2º3Jº¹cº 2º+ìì++J 2º+2Jc5º J ¸2+9c) J J \\\ \\\ \\\ ¹2¹25+ ºº+3º¹ \\\ \\\
5ì99999 - ¯c!a¹ - ´!|er \c¹!·-´¹ass ¯es·der!·a¹ \cr!çaçe-Jac|ed Seccr·!·es J \\\ J J J J J J J \\\ \\\ \\\ J ì5 \\\ \\\
5º99999 - ¯c!a¹ - Je!·red \c¹!·-´¹ass ´cªªerc·a¹ \cr!çaçe-Jac|ed Seccr·!·es cJcì25º \\\ c2¹3¹2ì cJº5JJJ cJcì5ìc J 3¹º J J \\\ \\\ \\\ 2ºì¹J ¹5355¹ \\\ \\\
5999999 - ¯c!a¹ - ´!|er \c¹!·-´¹ass ´cªªerc·a¹ \cr!çaçe-Jac|ed Seccr·!·es ¹J5+93ì3 \\\ ¹J5++3¹c ¹J55JJJJ ¹J5+9++J J cc J J \\\ \\\ \\\ ¹cJ5c ¹29J93 \\\ \\\
6099999 Totals ++º95Jº¹3 \\\ ++º+c92+5 ++ºº52º5+ ++ºì+9¹+J ¸2¹325) 33c3º J J \\\ \\\ \\\ +3J2ì2¹ ¹¹553º2º \\\ \\\
E
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ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 2 - SECTION 1
Showing ALL PREFERRED STOCKS Owned December 31 of Current Year
1 2 Codes 5 6 7 8 Fair Value 11 Dividends Change in Book/ Adjusted Carrying Value 20 21
CUSÌP
Ìdentification Description
3
Code
4
Foreign
Number
Of
Shares
Par
Value
Per
Share
Rate
Per
Share
Book/
Adjusted
Carrying
Value
9
Rate Per
Share
Used to
Obtain
Fair
Value
10
Fair
Value
Actual
Cost
12
Declared
But
Unpaid
13
Amount
Received
During
Year
14
Nonadmitted
Declared
But
Unpaid
15
Unrealized
Valuation
Ìncrease/
(Decrease)
16
Current
Year's
(Amortization)
Accretion
17
Current Year's
Other Than
Temporary
Ìmpairment
Recognized
18
Total
Change
Ìn
B./A.C.V.
(15 + 16 - 17)
19
Total
Foreign
Exchange
Change
Ìn
B./A.C.V.
NAÌC
Desig-
nation
Date
Acquired
c599999 ¯c!a¹ - ²re!erred S!cc|s \\\ \\\ \\\
E
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9
NONE
ANNUAL STATEMENT FOR THE YEAR 2006OF THEKeystone HeaIth PIan West, Inc.
SCHEDULED PART 2 - SECTION 2
Showing aII COMMON STOCKS Owned December 31 of Current Year
1 2 Codes 5 6 Fair Value 9 Dividends Change in Book / Adjusted Carrying Value 17 18
CUSÌP
Ìdentification Description
3
Code
4
Foreign
Number of
Shares
Book / Adjusted
Carrying
Value
7
Rate per
Share Used
To Obtain
Fair
Value
8
Fair
Value
Actual
Cost
10
Declared
But Unpaid
11
Amount
Received
During Year
12
Nonadmitted
Declared
But Unpaid
13
Unrealized
Valuation
Ìncrease /
(Decrease)
14
Current Year's
Other Than
Temporary
Ìmpairment
Recognized
15
Total
Change in
B./A.C.V.
(13 - 14)
16
Total Foreign
Exchange
Change in
B. /A.C.V.
NAÌC
Market
Ìndicator
(a)
Date
Acquired
9J5+2¸-¹J-+ Jr·cr Jere!·! \araçeªer! ¹rc 5JJJJJ ¹25º2ì ¹JJJJJ ¹25º2ì ¹J5ì2ì 2J¹JJ 2J¹JJ Jº:J¹:2JJc
c999999 - ¯c!a¹ - ´cªªcr S!cc| - ²arer! Sc|s·d·ar·es |!!·¹·a!es ¹25º2ì \\\ ¹25º2ì ¹J5ì2ì 2J¹JJ 2J¹JJ \\\ \\\
ì299999 ¯c!a¹ - ´cªªcr S!cc|s ¹25º2ì \\\ ¹25º2ì ¹J5ì2ì 2J¹JJ 2J¹JJ \\\ \\\
ì399999 ¯c!a¹ - ²re!erred ard ´cªªcr S!cc|s ¹25º2ì \\\ ¹25º2ì ¹J5ì2ì J J J 2J¹JJ J 2J¹JJ J \\\ \\\
(a) For all common stocks bearing the NAÌC market indicator "U¨ provide: the number of such issues , the total $ value (included in Column 8) of all such issues $
E
1
0
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 3
Showing AII Long-Term Bonds and Stocks ACQUIRED During Current Year
1 2 3 4 5 6 7 8 9
CUSÌP
Ìdentification Description Foreign Date Acquired Name of Vendor
Number of
Shares of Stock
Actual
Cost Par Value
Paid for Accrued
Ìnterest and Dividends
3¹2º\+-lì-2 ¯cJc¯|| d´\c |´|\ \¯J ´´¯² \¯S J5:3J:2JJc J|¹¯J ¯´Jc¯¯ l \ ´´ ¹\´ 3+23¹ì5 35JJJJJ 33cºº
3¹2º\5-|²-¹ ¯cJc¯|| d´\c |´|\ \¯J ´´¯² \¯S ¹¹:¹5:2JJc J|¹¯J ¯´Jc¯¯ l \ ´´ ¹\´ +993ì5J 5JJJJJJ 29¹cì
3¹2º\5-\¯-¹ ¯cJc¯|| d´\c |´|\ \¯J ´´¯² \¯S ¹¹:2J:2JJc Jc|¯ S¯c|¯\S +J¹¹cJJ +JJJJJJ +¹c¹
3¹2º\5-¯J-2 ¯cJc¯|| d´\c |´|\ \¯J ´´¯² \¯S ¹2:Jº:2JJc ¯¯J:¯¹¯S¯ ¯c\\cSScc ´|²¹¯|| \| ¹JJJJJJ ¹JJJJJJ J
3¹33\J-.J-9 ¯cJc¯|| d´\c |´|\ J|\/ J9:Jc:2JJc J´|J\|\ S|´dS \ ´´ \\ +92+29J 5JJJJJJ ì9c35
3¹33\c-´.-c ¯cJc¯|| d´\c |´|\ J|\/ J¹:J9:2JJc S¯¹¯c| \¹´´||JS \ ´´ ¹\´ 2JJJJJJ 2JJJJJJ J
3¹33\¯-J2-9 ¯cJc¯|| d´\c |´|\ J|\/ J5:J3:2JJc \ar·ccs 99cì¹JJ ¹JJJJJJJ ì5JJ
3¹33\J-.l-5 ¯cJc¯|| d´\c |´|\ J|\/ Jº:Jì:2JJc Jl|´ 5JJJJJJ 5JJJJJJ J
3¹33\J-\.-9 ¯cJc¯|| d´\c |´|\ J|\/ J|´J|| \¯S ¹J:25:2JJc Jc|¯ S¯c|¯\S 99ººcJJ ¹JJJJJJJ 52ììº
3¹33\d-cd-¹ ¯cJc¯|| d´\c |´|\ J|\/ J|´J|| \¯S ¹2:Jì:2JJc \ar·ccs ¹5J25JJJ ¹5JJJJJJ 3ì+3¹
3¹33\d-¯|-5 ¯cJc¯|| d´\c |´|\ J|\/ J´\JS ¹J:¹c:2JJc J|¹¯J ¯´Jc¯¯ l \ ´´ ¹\´ 29º39ºJ 3JJJJJJ +¹ì
3¹33\d-S9-+ ¯cJc¯|| d´\c |´|\ J|\/ J´\JS ¹¹:Jc:2JJc JJS ¯¹\|\´¹|| Sc¯\¹´cS ¹\´ 399+52J +JJJJJJ J
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3¹359\-c\-5 ¯\\| Jc\´d\|¯/ \¯S cc25 J9:¹5:J9 J9:J5:2JJc J´|J\|\ S|´dS \ ´´ \\ c2c9JJ+ cJJJJJJ ¹ººº¹3
3¹359\-.d-ì ¯\\| Jc\´d\|¯/ \¯S cJJJ J5:¹5:¹¹ J9:Jì:2JJc \´¯J|\ S¯|\|c\ \ ´´ ¹\´ 5¹9J555 5JJJJJJ 9+¹cì
3¹359\-\ì-+ ¯\\| \¯S cJìJ J5:¹2:¹c J5:¹2:2JJc JJS ¯¹\|\´¹|| Sc¯\¹´cS ¹\´ c9923JJ ìJJJJJJ 35+¹
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J399999 - ¯c!a¹ - Jcrds - JS Jcverrªer! ¹ì2ìcºcc3 ¹ì3ìc5JJJ ¹3552¹5
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9¹ì5+c-c\-¹ J¯|d S¯ J¯J ¯cJc\¯S S¯JJc\¯ |\ Sc¯ c-¹ ¯ ¹2:J5:2JJc .² \´¯J|\ ´d|Sc 2JJJJJJ 2JJJJJJ J
¹ì99999 - ¯c!a¹ - Jcrds - S!a!es ¯err·!cr·es ard ²cssess·crs cJJJJJJ cJJJJJJ J
3¹2º3d-/c-¹ ¯d|\´ ²´´|- JJ-¹2¹ì ìJJJ J3:J¹:3¹ J3:J+:2JJ3 /d²l ¯edera!ed ¯·xed ¹rccªe ¹+c¹J9 ¹392Jì ìJ+
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3¹2º/9-J+-9 ¯d|\´ ²´´|- |+-º5ì5 cJJJ J+:J¹:3c J9:¹+:2JJc .c¯¯c¯¹cS \ ´´ 332+¹2ì 33¹¹ìJº ¹5+55
3¹2º/¯-\º-ì ¯d|\´ ²´´|- |5-3+35 cJJJ ¹¹:J¹:3c J9:22:2JJc J´|J\|\ S|´dS \ ´´ \\ ì++ìcº ì+J5¹c ¹35º
3¹2º|\-¯´-+ ¯d|\´ ²´´|- JJ-23+ì cJJJ J9:J¹:3c ¹2:Jì:2JJc .c¯¯c¯¹cS \ ´´\²|\\ ¹\´ 5¹c9J5¹ 5J99ì2c 935J
3¹2º\.-cì-¹ ¯d|\´ ²´´|- JJ-º¹5ì c5JJ ¹J:J¹:3c ¹¹:J3:2JJc ¯¹¯S¯ ¯c\\cSScc J|\/ \|-J´\J J 5JJ52ì¹ +9¹J¹3ì ¹Jc39
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3¹29+/-.J-2 ¯d|\´ ²´´|- cJ-¹¹5º ìJJJ J+:J¹:¹ì Jì:¹ì:2JJ2 /d²l ¯edera!ed ¯·xed ¹rccªe ì+¹c++ ì¹35º5 3cJº
3¹29ºJ-¯.-º ¯d|\´ ²´´|- ´5-ìì53 ºJJJ J9:J¹:3¹ Jì:¹ì:2JJ2 /d²l ¯edera!ed ¯·xed ¹rccªe ¹23¹93 ¹¹c39º cì3
3¹339\-Jì-+ ¯d|\´ ¯c\¹´ Sc¯ 2+3¹ ´| ¯ ¹2:3J:2JJ2 /d²l ¯edera!ed ¯·xed ¹rccªe 3ì2¹+ 3ì2ìº ì2
3¹33¯3-J\-ì ¯d|\´ ¯c\¹´ Sc¯ ¹c2c ´| ¯ J3:¹c:2JJ+ /d²l ¯edera!ed ¯·xed ¹rccªe 55ì32 5559+ ¹5º
3¹3ì¹|-JJ-9 ¯\\| ²´´|- 25+9¹¹ 5JJJ ¹J:J¹:23 ¹2:J5:2JJc ¯¯J:¯¹¯S¯ ¯c\\cSScc ´|²¹¯|| \| 29+29+c 3JJ2J9+ +539
3¹3ì¹\-\J-9 ¯\\| ²´´|- 25cJ59 55JJ J¹:J¹:3c ¹2:¹5:2JJc \ar·ccs 5c+5º23 5ìcìJì3 ¹35º9
3¹3ºc´-3¯-ì ¯\\| |¯\ ²´´|- 559º¹J 59c3 Jº:J¹:+J J+:¹+:2JJ+ /d²l ¯edera!ed ¯·xed ¹rccªe c¹J9º cJ3¹2 2+¹
3¹3º9\-\²-5 ¯\\| |¯\ ²´´|- c3ºº22 ì¹5J Jc:J¹:32 J+:Jì:2JJ+ /d²l ¯edera!ed ¯·xed ¹rccªe ¹J¹95ì 9ºì¹¹ +J3
3¹392c-d\-3 ¯\\| ¯c\¹´ Sc¯ 2JJ2-53 ´| ¯/ ¹2:3J:2JJ2 /d²l ¯edera!ed ¯·xed ¹rccªe +9¹3ì +9333 ¹c
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3¹39c|-¯¯-c ¯d|\´ ¯c\¹´ Sc¯ 3J2º ´| \´ ¹2:J5:2JJc ¯¯J:¯¹¯S¯ ¯c\\cSScc ´|²¹¯|| \| 9ììº5c 9ºJJJJ 953
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1
1
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 3
Showing AII Long-Term Bonds and Stocks ACQUIRED During Current Year
1 2 3 4 5 6 7 8 9
CUSÌP
Ìdentification Description Foreign Date Acquired Name of Vendor
Number of
Shares of Stock
Actual
Cost Par Value
Paid for Accrued
Ìnterest and Dividends
3¹39cc-JJ-2 ¯d|\´ ¯c\¹´ Sc¯ 3Jì9 ´| \J J¹:2ì:2JJc JJS ¯¹\|\´¹|| Sc¯\¹´cS ¹\´ 29ìJJJJ 3JJJJJJ c25J
3¹39cd-J9-3 ¯d|\´ ¯c\¹´ Sc¯ 3¹¹2 ´| ²J J2:J¹:2JJc ¯|\\´\J .|\cS \ |SS´´¹|¯cS ¹\´ 3J¹3¹25 3JJJJJJ ¹23ì5
3¹+J¹\-J\-5 ¯\\| |¯\ ²´´| -ì22+9c +cì2 Jº:J¹:33 ¹2:J5:2JJc ¯¯J:¯¹¯S¯ ¯c\\cSScc ´|²¹¯|| \| 9º32c+ ¹JJ39º5 2cJ3
3¹+J2J-\¯-¹ ¯\\| ²´´|- ì2º5cº c5JJ ¹J:J¹:33 J3:¹º:2JJ+ /d²l ¯edera!ed ¯·xed ¹rccªe ¹25c9º ¹¹9299 5cJ
3¹+J2¯-|Z-J ¯\\| ²´´|- ì35ì++ cJJJ Jº:J¹:35 J+:Jc:2JJc JJS Sc´J¯¹¯¹cS ||´ 25Jcº¹2 25J2¹2J +5ºì
3¹+J3¯-J|-c ¯\\| ²´´|- ì+ìcºì cJJJ ¹¹:J¹:33 J+:Jì:2JJc ¯|\\´\J .|\cS \ |SS´´¹|¯cS ¹\´ ¹ì+5+9ì ¹ì+33¹º 3¹9c
3¹+J+J-\|-9 ¯\\| ²´´|- ìcº5¹5 ºJJJ J2:J¹:3+ J3:3J:2JJ+ /d²l ¯edera!ed ¯·xed ¹rccªe 2º2¹º5 2cJ53º ¹5J5
3¹+J+d-\d-9 ¯\\| |¯\ ²´´|- ìc9JcJ ìJ5J Jº:J¹:3¹ J2:J2:2JJ+ /d²l ¯edera!ed ¯·xed ¹rccªe ++Jcc +2ì¹2 ¹ì¹
3¹+J5.-c´-+ ¯\\| ²´´|- ì9J+3¹ cJJJ J9:J¹:3+ J+:Jì:2JJc .c¯¯c¯¹cS \ ´´\²|\\ ¹\´ 2¹25¹J3 2¹25+35 3º9ì
3¹+Jìd-¯J-2 ¯\\| ²´´|- º3¹3+c cJJJ J3:J¹:3c J3:¹3:2JJc \´¯J|\ S¯|\|c\ \ ´´ ¹\´ ¹ºì3캺 ¹ºc5c2c ºJº+
3¹+Jìd-Zd-2 ¯\\| ²´´|- º3¹5++ cJJJ Jc:J¹:3c Jº:J¹:2JJc J|¹¯J ¯´Jc¯¯ l \ ´´ ¹\´ +253ºcì +295ìºJ º9º9
3¹+J9\-d\-2 ¯\\| ²´´|- ºº¹+3ì cJJJ Jì:J¹:3c Jì:¹3:2JJc JJS ¹93캺c ¹9cJ2+5 c53+
3¹+¹J²-|¯-J ¯\\| ²´´|- º929Jc c5JJ Jº:J¹:3c J9:Jì:2JJc JJS Sc´J¯¹¯¹cS ||´ 2+ì¹+2c 2+2º¹ì+ +º23
9ìì¹JJ-|/-2 l¹S´´\S¹\ S¯ Jc\ ¯c\ Jc\ ¯c\ |J´¯¹´\ ¯|¯ ¹2:J5:2JJc .² \´¯J|\ ´d|Sc 2JJJJJJ 2JJJJJJ J
3¹99999 - ¯c!a¹ - Jcrds - S,ec·a¹ ¯everce 59ººº++¹ 59ìº2ì3J ¹52º2J
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29Jìºc-|´-9 c\J|¯J ´´¯² S¯ \¯S cì3º Jc:J¹:¹3 ¹J:¹2:2JJc JcJ¯S´dc J|\´ ||c\ J¯´l\ ¹\´ 5¹¹º+J 5JJJJJ ¹+J3º
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3º99999 - ¯c!a¹ - Jcrds - ²c|¹·c J!·¹·!·es ìº+ìº55 ºJJJJJJ ¹J2º32
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3c233+-J´-5 JS¯ \´¯¯J|Jc |´|\ ¯¯JS¯ Sc¯ 2JJc-2¯ ´| 2 Jc:¹+:2JJc J|¹¯J ¯´Jc¯¯ l \ ´´ ¹\´ ¹9ìº+3º 2JJJJJJ 5ì5J
3c9c2J-\2-ì Jc\c¯|| c|c´¯¯¹´ ´|² ´´¯² Sc¯ | \¯\ Jº:2¹:2JJc .c¯¯c¯¹cS \ ´´ J´\JS J¹¯ +ì캹5 5JJJJJ 359+
3º¹+3J-||-9 J´|J\|\ S|´dS J¯´J² ¹\´ Jº:¹+:2JJc .c¯¯c¯¹cS \ ´´\²|\\ ¹\´ +º2c¹J 5JJJJJ ¹ì22
+J+29´-´J-3 dSJ´ ¯¹\|\´c ´´¯² +ì5J J+:¹5:¹J Jº:2¹:2JJc Jl|´ +9J¹9J 5JJJJJ º5¹J
+J+29´-´l-J dSJ´ ¯¹\|\´c ´´¯² ¯|¯ ¯|¯c S¯ \¯S ¹2:¹2:2JJc dSJS Sc´J¯¹¯¹cS ¹\´ 2J2233J 2JJJJJJ J
+J+29´-¯J-J dSJ´ ¯¹\|\´c ´´¯² S¯ \¯S Jc:22:2JJc ¯¹¯S¯ ´|c|¯¹\J ||´ 2+ìºì++ 25JJJJJ ¹Jcºº
+¹2º3|-´c-ì d|¯|c\-J|\¹JS´\ \:´ ¯¯ Sc¯ 2JJc-¹ |2 J2:¹c:2JJc ´¹¯¹J¯´J² J|´J|| \|¯/c¯S ¹\´ 2ì993ì3 2ºJJJJJ J
+2ìºcc-|²-3 dc¯Sdc\ ´´\²|\\ \¯S 5+5J J9:J¹:¹c Jº:2+:2JJc J|¹¯J ¯´Jc¯¯ l \ ´´ ¹\´ ¹99952J 2JJJJJJ 3J3
+29º2ì-|\-º d¹Jdc¯ cJJ´|¯¹´\ ¯J\J¹\J Sc¯ 2JJ+-¹ ´| ¹2:J5:2JJc ²\´ Sc´J¯¹¯¹cS ´´¯² ¹5JJJJJ ¹5JJJJJ 5c95
+59ì+5-¯J-3 ¹\¯| |c|Sc ¯¹\|\´c ´´¯² \¯S Jº:¹+:2JJc J|¯´||\S ´|²¹¯|| ¹\´ +ºc3cJ 5JJJJJ ¹¹2+J
+cc25d-J|-ì .²\´¯J|\ ´d|Sc \ ´´ +5JJ ¹¹:¹5:¹J Jº:2¹:2JJc Jl|´ +º+ìJ5 5JJJJJ c¹ºº
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ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 3
Showing AII Long-Term Bonds and Stocks ACQUIRED During Current Year
1 2 3 4 5 6 7 8 9
CUSÌP
Ìdentification Description Foreign Date Acquired Name of Vendor
Number of
Shares of Stock
Actual
Cost Par Value
Paid for Accrued
Ìnterest and Dividends
+93Jc´-|d-+ /c\ J|\/ \| SJJ \¯S 5ºJJ Jì:J¹:¹+ J2:23:2JJc \´J´\||J \ ´´\²|\\ 2J5ìì2J 2JJJJJJ ¹º3cì
52+9Jº-´\-J |cd\|\ J¯´S d|JJ ìºì5 Jº:¹5:¹J Jº:2¹:2JJc l|´d´\¹| ´|²¹¯|| \|¯/c¯S ||´ 5+3ì5J 5JJJJJ 9º+
525¹ì²-J9-c |cd\|\ J¯´S d|JJ Sc¯ d \¯\ J+:2J:2JJc J|¹¯J ¯´Jc¯¯ l \ ´´ ¹\´ 2+9º+JJ 25JJJJJ J
59J¹ºº-+\-ì \c¯¯¹|| |\\´d \ ´´ SJJ \¯S J5:3¹:2JJc \´\-J¯´/c¯ ¯¯|Jc 2+999JJ 25JJJJJ ì9º3
59J¹º\-Jd-2 \c¯¯¹|| |\\´d \ ´´ \¯\ Sc¯ ´ Jº:2¹:2JJc Jc|¯ S¯c|¯\S \ ´´ +º35+5 5JJJJJ 939c
c¹ì5Jl-|\-¹ \´¯J|\ S¯|\|c\ ´|²¹¯|| ¹ Sc¯ 2JJc-¹J¹2 ¹2:¹+:2JJc \´¯J|\ S¯|\|c\ \ ´´ ¹\´ +ºìc33 +º5JJJ ¹+3ì
c3ì+32-´\-5 \|¯| ¯J¯|| J¯¹| ¯¹\|\´c Jº:¹+:2JJc J|\´ ´¯ |\c¯¹´| Sc´J¯¹¯¹cS ||´ 5J+ì25 5JJJJJ ¹3+9ì
cº+J2|-|´-º ´¯|´|c ´´¯² \¯S 525J J¹:¹5:¹c Jc:¹3:2JJc ¯ax ¯ree cxc|arçe ¹99c+25 2JJJJJJ J
cº+J2|-|c-+ ´¯|´|c ´´¯² \¯S 5JJJ J¹:¹5:¹¹ Jº:2¹:2JJc .c¯¯c¯¹cS \ ´´ J´\JS J¹¯ +9¹555 5JJJJJ 2ìJº
c93+ì/-d\-ì ²\´ J|\/ \| ¯|\Jc \¯ ìJJJ ¹2:2J:¹3 ¹2:Jì:2JJc ²¹¯¯SJJ¯Jd \|¯¹´\|| J|\/-Sc´J¯ ¹JJJJJJ ¹JJJJJJ J
ìJc+5¹-|J-ì ²c\c\ ²¯´. ¯JJ \|S¯c¯ ¯¯JS¯ \¯S Jº:¹+:2JJc J´|J\|\ S|´dS \ ´´ \\ 55ì25J 5JJJJJ ¹5ì¹5
ìº++2¯-JJ-¹ S|\ ´´¯² +ºJ3 ¹2:¹5:¹+ ¹¹:J9:2JJ+ /d²l ¯edera!ed ¯·xed ¹rccªe +25JJJ +25JJJ ¹ºJ9
ìº++2¯-cc-+ S|\ ´´¯² Sc¯ | ¯|¯ ¯|¯c \¯\ ¹2:Jº:2JJc ²¹¯¯SJJ¯Jd \|¯¹´\|| J|\/-Sc´J¯ 225cì25 225JJJJ ¹5J53
º2ººJì-Jc-c S¹\´\ ²¯´²c¯¯\ J¯´J² |² \¯S Jº:Jì:2JJc Jc|¯ S¯c|¯\S \ ´´ +ºìº+J 5JJJJJ ¹¹º+9
ººì3¹ì-|J-¹ ¯¹\c l|¯\c¯ ¹\´ \¯S 55JJ ¹¹:¹5:¹¹ ¹¹:Jº:2JJc J|\´ ´¯ |\c¯¹´| Sc´J¯¹¯¹cS ||´ 22+º25 225JJJ J
º9233²-ZZ-2 ¯´\´¯| \´¯´¯ ´¯cJ¹¯ ´´¯² ¯|¯ ¯|¯c ¯|\Jc ¹2:Jc:2JJc ²¹¯¯SJJ¯Jd \|¯¹´\|| J|\/-Sc´J¯ 225JJJJ 225JJJJ +ºº¹
9¹9¹3\-|J-2 \||c¯´ c\c¯J\ ´´¯² S¯ \¯S Jº:¹+:2JJc J|\´ ´¯ |\c¯¹´| Sc´J¯¹¯¹cS ||´ 52+9ºJ 5JJJJJ ¹¹c+9
9299J3-|J-+ l|´d´\¹| ´´¯² 3c25 J2:¹ì:J9 Jº:2¹:2JJc l|´d´\¹| ´|²¹¯|| \|¯/c¯S ||´ +º¹+cJ 5JJJJJ 352
9299J3-´¯-ì l|´d´\¹| ´´¯² S¯ \¯S 53JJ ¹J:¹5:¹¹ ¹J:¹º:2JJc l|´d´\¹| ´|²¹¯|| \|¯/c¯S ||´ 3993+ºJ +JJJJJJ J
93¹¹+2-Jc-2 l|| \|¯¯ S¯´¯cS cºì5 Jº:¹J:J9 Jº:¹+:2JJc .c¯¯c¯¹cS \ ´´ J´\JS J¹¯ 52JJì5 5JJJJJ ccº
9+9º+¯-|c-9 lc||S ¯|¯J´ \JS ¯¯JS¯ Sc¯ 2JJc-¹¹ ´| |5 Jº:J9:2JJc ¯|\\´\J .|\cS \ |SS´´¹|¯cS ¹\´ 3+ºJº59 35JJJJJ ¹ì5JJ
¹3c3º5-|J-ì ´|\|J¹|\ \|¯J¯|| ¯cS´J¯´cS \¯S ¯ Jº:Jì:2JJc JJS Sc´J¯¹¯¹cS ||´ 52ìc5J 5JJJJJ 232c
º225º2-||-J Sdc|| ¹\¯c¯\|¯¹´\|| ¯¹\ S¯ \¯S ¯ Jì:¹2:2JJc \ar·ccs 3ì5¹¹5J 3ì5JJJJ 39Jc
+599999 - ¯c!a¹ - Jcrds - ¹rdcs!r·a¹ \·sc ì9J2ì3ºº ì9J33J25 ++953º
cJ9999ì - ¯c!a¹ - Jcrds - ²ar! 3 32c¹J22ºì 32ìJºJì55 2Jc35cJ
cJ9999º - ¯c!a¹ - Jcrds - ²ar! 5 +93º392ì +99cJ칺 2º35c+
cJ99999 - ¯c!a¹ - Jcrds 3ì5+ºc2¹+ 3ììJ+¹+ì3 23+ì¹2+
c59999º - ¯c!a¹ - ²re!erred S!cc|s - ²ar! 5 J \\\ J
c599999 - ¯c!a¹ - ²re!erred S!cc|s J \\\ J
9J5+2¸-¹J-+ Jr·cr Jere!·!s \araçeªer! ¹rc Jº:J¹:2JJc ²|\´´ 5JJJJJ ¹J5ì2ì
c999999 - ¯c!a¹ - ´cªªcr S!cc|s - ²arer! Sc|s·d·ar·es |!!·¹·a!es ¹J5ì2ì \\\
ì29999ì - ¯c!a¹ - ´cªªcr S!cc|s - ²ar! 3 ¹J5ì2ì \\\
ì29999º - ¯c!a¹ - ´cªªcr S!cc|s - ²ar! 5 J \\\ J
ì299999 - ¯c!a¹ - ´cªªcr S!cc|s ¹J5ì2ì \\\ J
ì399999 - ¯c!a¹ - ²re!erred ard ´cªªcr S!cc|s ¹J5ì2ì \\\ J
7499999 Totals 3ì559¹9+¹ \\\ 23+ì¹2+
E
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ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 4
Showing aII Long-Term Bonds and Stocks SOLD, REDEEMED or Otherwise DISPOSED OF During Current Year
1 2 3 4 5 6 7 8 9 10 Change in Book/Adjusted Carrying Value 16 17 18 19 20 21
CUSÌP
Ìdenti-
fication Description
F
o
r
e
i
g
n
Disposal
Date Name of Purchaser
Number of
Shares of
Stock Consideration Par Value Actual Cost
Prior Year
Book/Adjusted
Carrying
Value
11
Unrealized
Valuation
Ìncrease/
(Decrease)
12
Current Year
(Amortization)/
Accretion
13
Current Year's
Other Than
Temporary
Ìmpairment
Recognized
14
Total Change in
B/A. C.V.
(11 + 12 - 13)
15
Total Foreign
Exchange
Change in
B/A. C.V.
Book/
Adjusted
Carrying Value
at
Disposal Date
Foreign
Exchange Gain
(Loss) on
Disposal
Realized Gain
(Loss) on
Disposal
Total Gain
(Loss) on
Disposal
Bond
Ìnterest/Stock
Dividends
Received
During Year
Maturity
Date
3¹2º\¹-c.-2 ¯cJc¯|| d´\c |´|\ \¯J ´´¯² \¯\ Jº:Jì:2JJc Jl|´ 23+9J5J 25JJJJJ 2+55JJJ 2+5ì+ì2 J 29c3 J 29c3 J 2+cJ+35 J ¸¹¹¹3º5) ¸¹¹¹3º5) ì555c J5:22:2J¹3
3¹33¹S-./-J ¯cJc¯|| ¯|¯\ ´¯cJ¹¯ J|\/ J3:Jì:2JJc \ar·ccs +º2Jº5J 5JJJJJJ +992+JJ +99+++5 J 322 J 322 J +99+ìcì J ¸¹ì39¹ì) ¸¹ì39¹ì) ¹J3º2º Jì:¹5:2JJº
3¹33\/-cJ-5 ¯cJc¯|| d´\c |´|\ J|\/ J5:J3:2JJc S¯¹¯c| \¹´´||JS \ ´´ ¹\´ +9º9J5J 5JJJJJJ 53ììc+5 5J9Jì2º J ¸35¹5¹) J ¸35¹5¹) J 5J555ìì J ¸cc52ì) ¸cc52ì) ¹¹++2ì ¹¹:¹5:2JJc
3¹33\+-¯|-5 ¯cJc¯|| d´\c |´|\ J|\/ J9:2º:2JJc \a!cr·!y 2JJJJJJ 2JJJJJJ 2JJJ93º 2JJJJJJ J J J J J 2JJJJJJ J J J 5¹+JJ J9:2º:2JJc
3¹3+|+-\´-5 ¯cJc¯|| d´\c |´|\ \¯J ´´¯² \¯S ¹2:Jì:2JJc ¯J´ J|¹\ ¯|JS´dc¯ ¹\´ +ººJ9ì9 5JJJJJJ +9cc35J +9cìc23 J 2cJ9 J 2cJ9 J +9ìJ232 J ¸º9253) ¸º9253) 3Jc25J Jì:¹ì:2J¹5
3¹359\-´c-º ¯\\| +JºJ Jc:Jc:Jº J+:¹3:2JJc .c¯¯c¯¹cS \ ´´ J´\JS J¹¯ +ºì+¹JJ 5JJJJJJ 5J¹¹+JJ 5JJº22º J ¸¹c++) J ¸¹c++) J 5JJc5º5 J ¸¹32+º5) ¸¹32+º5) ì+233 Jc:Jc:2JJº
3¹359\-J2-c ¯\\| \¯S +2JJ Jc:¹c:Jº ¹J:25:2JJc Jc|¯ S¯c|¯\S +9225JJ 5JJJJJJ 5JJ+º5J 5JJ223+ J ¸223+) J ¸223+) J 5JJJJJJ J ¸ìì5JJ) ¸ìì5JJ) ¹ºJº33 Jc:¹c:2JJº
3¹359\-Jì-5 ¯\\| \¯S +JJJ Jc:23:Jº ¹¹:Jc:2JJc
JJS ¯¹\|\´¹|| Sc´J¯¹¯¹cS
¹\´:J 392ºº+J +JJJJJJ 39ºìcºJ 39º9ì29 J 3+¹3 J 3+¹3 J 3993¹+¹ J ¸c+3J¹) ¸c+3J¹) ¹3955c Jc:23:2JJº
3¹359\-\|-2 ¯\\| \¯S +JJJ J¹:2c:J9 ¹¹:2J:2JJc Jc|¯ S¯c|¯\S 39¹cJºJ +JJJJJJ 39ì¹J+J 39ì53c9 J cº¹9 J cº¹9 J 39º2¹ºº J ¸cc¹Jº) ¸cc¹Jº) 2¹¹¹¹¹ J¹:2c:2JJ9
3¹359\-\\-J ¯\\| ++JJ J3:Jº:¹J ¹J:25:2JJc Jc|¯ S¯c|¯\S +º95JJJ 5JJJJJJ +9ì9¹JJ +9º2J35 J 32++ J 32++ J +9º52ì9 J ¸9J2ì9) ¸9J2ì9) 2+9333 J3:Jº:2J¹J
3¹359\-\\-c ¯\\| \¯S 5JJJ J3:J2:¹5 ¹J:J+:2JJc JJS ¯¹\|\´¹|| Sc¯\¹´cS ¹\´ c92¹J+J ìJJJJJJ c9ºº932 c9º9º¹c J cìì J cìì J c99J+93 J ¸c9+53) ¸c9+53) 3º2Jº3 J3:J2:2J¹5
3c2JJ´-|´-9 J\\| S¯ ¹ ²´´|- 59cºJ3 J+:J5:2JJc JJS ¯¹\|\´¹|| Sc¯\¹´cS ¹\´ ¹35293c ¹3cccJ2 ¹39¹ì99 ¹3º9º+3 J ¸2¹º) J ¸2¹º) J ¹3º9c25 J ¸3ccºº) ¸3ccºº) 2ì35¹ ¹2:¹5:2J32
3c2JJ´-|´-9 J\\| S¯ ¹ ²´´|- 59cºJ3 J+:J3:2JJc ²aydc«r ¹c9ì52 ¹c9ì52 ¹ì2ºº2 ¹ì2c39 J ¸2ººì) J ¸2ººì) J ¹c9ì52 J J J ¹º+¹ ¹2:¹5:2J32
3c2JJ¯-J+-º J\\| S¯ ¹ ²´´|- 5ìJJ¹9 J¹:2ì:2JJc
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3c2JJ¯-J+-º J\\| S¯ ¹ ²´´|- 5ìJJ¹9 J2:J¹:2JJc ²aydc«r 53cìì 53cìì 5c+ìº 5c33º J ¸2cc¹) J ¸2cc¹) J 53cìì J J J 5c3+ Jì:¹5:2J32
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E
1
2
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 4
Showing aII Long-Term Bonds and Stocks SOLD, REDEEMED or Otherwise DISPOSED OF During Current Year
1 2 3 4 5 6 7 8 9 10 Change in Book/Adjusted Carrying Value 16 17 18 19 20 21
CUSÌP
Ìdenti-
fication Description
F
o
r
e
i
g
n
Disposal
Date Name of Purchaser
Number of
Shares of
Stock Consideration Par Value Actual Cost
Prior Year
Book/Adjusted
Carrying
Value
11
Unrealized
Valuation
Ìncrease/
(Decrease)
12
Current Year
(Amortization)/
Accretion
13
Current Year's
Other Than
Temporary
Ìmpairment
Recognized
14
Total Change in
B/A. C.V.
(11 + 12 - 13)
15
Total Foreign
Exchange
Change in
B/A. C.V.
Book/
Adjusted
Carrying Value
at
Disposal Date
Foreign
Exchange Gain
(Loss) on
Disposal
Realized Gain
(Loss) on
Disposal
Total Gain
(Loss) on
Disposal
Bond
Ìnterest/Stock
Dividends
Received
During Year
Maturity
Date
3¹29J9-J|-c ¯d|\´ ¯c\¹´ Sc¯ ¹2+º J J9:¹5:2JJc ²aydc«r ¹cº5¹ ¹cº5¹ ¹c9c¹ ¹c95¹ J ¸¹JJ) J ¸¹JJ) J ¹cº5¹ J J J 39¹ J3:¹5:2J22
3¹29J9-J|-c ¯d|\´ ¯c\¹´ Sc¯ ¹2+º J J9:2ì:2JJc
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3¹29¹¹-+²-2 ¯d|\´ ¯c\¹´ Sc¯ ¹3c+ ´| | Jº:¹5:2JJc ²aydc«r ¹+J¹5J ¹+J¹5J ¹+J522 ¹+J39¹ J ¸2+¹) J ¸2+¹) J ¹+J¹5J J J J 2c+5 J9:¹5:2JJì
3¹292.-|\-2
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3¹29ºJ-¯.-º
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E
1
2
.
1
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 4
Showing aII Long-Term Bonds and Stocks SOLD, REDEEMED or Otherwise DISPOSED OF During Current Year
1 2 3 4 5 6 7 8 9 10 Change in Book/Adjusted Carrying Value 16 17 18 19 20 21
CUSÌP
Ìdenti-
fication Description
F
o
r
e
i
g
n
Disposal
Date Name of Purchaser
Number of
Shares of
Stock Consideration Par Value Actual Cost
Prior Year
Book/Adjusted
Carrying
Value
11
Unrealized
Valuation
Ìncrease/
(Decrease)
12
Current Year
(Amortization)/
Accretion
13
Current Year's
Other Than
Temporary
Ìmpairment
Recognized
14
Total Change in
B/A. C.V.
(11 + 12 - 13)
15
Total Foreign
Exchange
Change in
B/A. C.V.
Book/
Adjusted
Carrying Value
at
Disposal Date
Foreign
Exchange Gain
(Loss) on
Disposal
Realized Gain
(Loss) on
Disposal
Total Gain
(Loss) on
Disposal
Bond
Ìnterest/Stock
Dividends
Received
During Year
Maturity
Date
3¹3ì¹\-J\-+
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1
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2
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 4
Showing aII Long-Term Bonds and Stocks SOLD, REDEEMED or Otherwise DISPOSED OF During Current Year
1 2 3 4 5 6 7 8 9 10 Change in Book/Adjusted Carrying Value 16 17 18 19 20 21
CUSÌP
Ìdenti-
fication Description
F
o
r
e
i
g
n
Disposal
Date Name of Purchaser
Number of
Shares of
Stock Consideration Par Value Actual Cost
Prior Year
Book/Adjusted
Carrying
Value
11
Unrealized
Valuation
Ìncrease/
(Decrease)
12
Current Year
(Amortization)/
Accretion
13
Current Year's
Other Than
Temporary
Ìmpairment
Recognized
14
Total Change in
B/A. C.V.
(11 + 12 - 13)
15
Total Foreign
Exchange
Change in
B/A. C.V.
Book/
Adjusted
Carrying Value
at
Disposal Date
Foreign
Exchange Gain
(Loss) on
Disposal
Realized Gain
(Loss) on
Disposal
Total Gain
(Loss) on
Disposal
Bond
Ìnterest/Stock
Dividends
Received
During Year
Maturity
Date
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E
1
2
.
3
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 4
Showing aII Long-Term Bonds and Stocks SOLD, REDEEMED or Otherwise DISPOSED OF During Current Year
1 2 3 4 5 6 7 8 9 10 Change in Book/Adjusted Carrying Value 16 17 18 19 20 21
CUSÌP
Ìdenti-
fication Description
F
o
r
e
i
g
n
Disposal
Date Name of Purchaser
Number of
Shares of
Stock Consideration Par Value Actual Cost
Prior Year
Book/Adjusted
Carrying
Value
11
Unrealized
Valuation
Ìncrease/
(Decrease)
12
Current Year
(Amortization)/
Accretion
13
Current Year's
Other Than
Temporary
Ìmpairment
Recognized
14
Total Change in
B/A. C.V.
(11 + 12 - 13)
15
Total Foreign
Exchange
Change in
B/A. C.V.
Book/
Adjusted
Carrying Value
at
Disposal Date
Foreign
Exchange Gain
(Loss) on
Disposal
Realized Gain
(Loss) on
Disposal
Total Gain
(Loss) on
Disposal
Bond
Ìnterest/Stock
Dividends
Received
During Year
Maturity
Date
3º3ìd+-J.-2 J\\| Sc¯ 2JJJ-22 ´| ¯J Jº:2º:2JJc
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E
1
2
.
4
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 4
Showing aII Long-Term Bonds and Stocks SOLD, REDEEMED or Otherwise DISPOSED OF During Current Year
1 2 3 4 5 6 7 8 9 10 Change in Book/Adjusted Carrying Value 16 17 18 19 20 21
CUSÌP
Ìdenti-
fication Description
F
o
r
e
i
g
n
Disposal
Date Name of Purchaser
Number of
Shares of
Stock Consideration Par Value Actual Cost
Prior Year
Book/Adjusted
Carrying
Value
11
Unrealized
Valuation
Ìncrease/
(Decrease)
12
Current Year
(Amortization)/
Accretion
13
Current Year's
Other Than
Temporary
Ìmpairment
Recognized
14
Total Change in
B/A. C.V.
(11 + 12 - 13)
15
Total Foreign
Exchange
Change in
B/A. C.V.
Book/
Adjusted
Carrying Value
at
Disposal Date
Foreign
Exchange Gain
(Loss) on
Disposal
Realized Gain
(Loss) on
Disposal
Total Gain
(Loss) on
Disposal
Bond
Ìnterest/Stock
Dividends
Received
During Year
Maturity
Date
2¹cºì¹-||-¹
´´´²c¯ ¹\JJS¯¯¹cS ¹\´ Sc¯ ¹++|
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2223ì|-\J-J
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1
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5
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 4
Showing aII Long-Term Bonds and Stocks SOLD, REDEEMED or Otherwise DISPOSED OF During Current Year
1 2 3 4 5 6 7 8 9 10 Change in Book/Adjusted Carrying Value 16 17 18 19 20 21
CUSÌP
Ìdenti-
fication Description
F
o
r
e
i
g
n
Disposal
Date Name of Purchaser
Number of
Shares of
Stock Consideration Par Value Actual Cost
Prior Year
Book/Adjusted
Carrying
Value
11
Unrealized
Valuation
Ìncrease/
(Decrease)
12
Current Year
(Amortization)/
Accretion
13
Current Year's
Other Than
Temporary
Ìmpairment
Recognized
14
Total Change in
B/A. C.V.
(11 + 12 - 13)
15
Total Foreign
Exchange
Change in
B/A. C.V.
Book/
Adjusted
Carrying Value
at
Disposal Date
Foreign
Exchange Gain
(Loss) on
Disposal
Realized Gain
(Loss) on
Disposal
Total Gain
(Loss) on
Disposal
Bond
Ìnterest/Stock
Dividends
Received
During Year
Maturity
Date
3ìJ+25-S/-ì Jc\c¯|| \´¯´¯S |´´c²¯ ´´¯² Jº:J9:2JJc
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E
1
2
.
6
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 4
Showing aII Long-Term Bonds and Stocks SOLD, REDEEMED or Otherwise DISPOSED OF During Current Year
1 2 3 4 5 6 7 8 9 10 Change in Book/Adjusted Carrying Value 16 17 18 19 20 21
CUSÌP
Ìdenti-
fication Description
F
o
r
e
i
g
n
Disposal
Date Name of Purchaser
Number of
Shares of
Stock Consideration Par Value Actual Cost
Prior Year
Book/Adjusted
Carrying
Value
11
Unrealized
Valuation
Ìncrease/
(Decrease)
12
Current Year
(Amortization)/
Accretion
13
Current Year's
Other Than
Temporary
Ìmpairment
Recognized
14
Total Change in
B/A. C.V.
(11 + 12 - 13)
15
Total Foreign
Exchange
Change in
B/A. C.V.
Book/
Adjusted
Carrying Value
at
Disposal Date
Foreign
Exchange Gain
(Loss) on
Disposal
Realized Gain
(Loss) on
Disposal
Total Gain
(Loss) on
Disposal
Bond
Ìnterest/Stock
Dividends
Received
During Year
Maturity
Date
ìc¹¹2J-Z\-9
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1
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7
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 5
Showing aII Long-Term Bonds and Stocks ACQUIRED During Year and FuIIy DISPOSED OF During Current Year
1 2 3 4 5 6 7 8 9 10 11 Change in Book/Adjusted Carrying Value 17 18 19 20 21
12 13 14 15 16
CUSÌP
Ìdentification Description
F
o
r
e
i
g
n
Date
Acquired Name of Vendor
Disposal
Date Name of Purchaser
Par Value
(Bonds) or
Number of
Shares
(Stocks) Actual Cost Consideration
Book/
Adjusted
Carrying
Value at
Disposal Date
Unrealized
Valuation
Ìncrease/
(Decrease)
Current Year's
(Amortization)/
Accretion
Current Year's
Other Than
Temporary
Ìmpairment
Recognized
Total Change
Ìn
B./A. C.V.
(12 + 13 - 14)
Total Foreign
Exchange
Change in
B./A. C.V.
Foreign
Exchange
Gain (Loss) on
Disposal
Realized Gain
(Loss) on
Disposal
Total
Gain (Loss)
on Disposal
Ìnterest and
Dividends
Received
During Year
Paid for
Accrued
Ìnterest
and
Dividends
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E
1
3
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 5
Showing aII Long-Term Bonds and Stocks ACQUIRED During Year and FuIIy DISPOSED OF During Current Year
1 2 3 4 5 6 7 8 9 10 11 Change in Book/Adjusted Carrying Value 17 18 19 20 21
12 13 14 15 16
CUSÌP
Ìdentification Description
F
o
r
e
i
g
n
Date
Acquired Name of Vendor
Disposal
Date Name of Purchaser
Par Value
(Bonds) or
Number of
Shares
(Stocks) Actual Cost Consideration
Book/
Adjusted
Carrying
Value at
Disposal Date
Unrealized
Valuation
Ìncrease/
(Decrease)
Current Year's
(Amortization)/
Accretion
Current Year's
Other Than
Temporary
Ìmpairment
Recognized
Total Change
Ìn
B./A. C.V.
(12 + 13 - 14)
Total Foreign
Exchange
Change in
B./A. C.V.
Foreign
Exchange
Gain (Loss) on
Disposal
Realized Gain
(Loss) on
Disposal
Total
Gain (Loss)
on Disposal
Ìnterest and
Dividends
Received
During Year
Paid for
Accrued
Ìnterest
and
Dividends
3¹+J3¯-J|-c
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32J2ì\-J|-3
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l|´d´\¹| ´|²¹¯|| \|¯/c¯S
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+599999 - Jcrds - ¹rdcs!r·a¹ ard \·sce¹¹areccs 2+2+º¹53 23ì9ººJ9 23c99+5ì 23º2ì¹35 J 2º329 J 2º329 J J ¸¹2ìcìc) ¸¹2ìcìc) 5cì9º+ ¹¹+9Jì
cJ9999º - Sc|!c!a¹ Jcrds +99cJ칺 +93º392ì +93+3ìì+ +9+¹52cJ J 3¹333 J 3¹333 J J ¸ì¹+º3) ¸ì¹+º3) ¹2º55ìº 2º35c+
7499999 Totals +93º392ì +93+3ìì+ +9+¹52cJ J 3¹333 J 3¹333 J J ¸ì¹+º3) ¸ì¹+º3) ¹2º55ìº 2º35c+
E
1
3
.
1
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE D - PART 6 - SECTION 1
VaIuation of Shares of Subsidiary, ControIIed or AffiIiated Companies
1

2 3 4 5 6 7 8 Stock of Such Company Owned
by Ìnsurer on Statement Date
CUSÌP
Ìdentification
Description
Name of Subsidiary, Controlled or
Affiliated Company Foreign
NAÌC
Company
Code or
Alien
Ìnsurer
Ìdentification
Number
NAÌC
Valuation
Method
(See SVO
Purposes
and
Procedures
Manual)
Do Ìnsurer's
Admitted
Assets
Ìnclude
Ìntangible
Assets
Connected
with Holding
of Such
Company's
Stock?
Total Amount of
Such Ìntangible
Assets
Book / Adjusted
Carrying Value
9
Number of Shares
10
% of
Outstanding
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¹º99999 - ¯c!a¹ ´cªªcr S!cc|s ¹25º2ì \\\ \\\
1999999 Totals ¹25º2ì \\\ \\\
1. Amount of insurer's capital and surplus from the prior period's statutory statement reduced by any admitted EDP, goodwill and net deferred tax
assets included therein: $ 3JºJ++ì39
2. Total amount of intangible assets nonadmitted $
SCHEDULE D - PART 6 - SECTION 2
1 2 3 4
Total Amount of
Ìntangible Assets
Stock in Lower-Tier Company
Owned Ìndirectly by Ìnsurer on
Statement Date
CUSÌP
Ìdentification Name of Lower-Tier Company
Name of Company Listed in Section 1 Which
Controls Lower-Tier Company
Ìncluded in Amount
Shown in Column 7,
Section 1
5
Number of Shares
6
% of
Outstanding
0399999 Total \\\ \\\
E14
NONE
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE DA - PART 1
Showing aII SHORT-TERM INVESTMENTS Owned December 31 of Current Year
1 Codes 4 5 6 7 Change Ìn Book/Adjusted Carrying Value 12 13 Ìnterest 20
Description
2
Code
3
Foreign
Date
Acquired Name of Vendor
Maturity
Date
Book/
Adjusted
Carrying
Value
8
Unrealized
Valuation
Ìncrease/
(Decrease)
9
Current
Year's
(Amortization)
/
Accretion
10
Current
Year's
Other Than
Temporary
Ìmpairment
Recognized
11
Total
Foreign
Exchange
Change in
B./A.C.V. Par Value Actual Cost
14
Amount Due
And Accrued
Dec. 31 of
Current Year
On Bond Not
Ìn Default
15
Non-Admitted
Due and
Accrued
16
Rate of
17
Effective
Rate of
18
How Paid
19
Gross Amount
Received
Paid for
Accrued
Ìnterest
J¹ac| \ Jec|er dc¹d·rçs Ser ¹++| Sr
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Jrey!cs ´as| \araçeªer! ¯crd ¹2:3¹:2JJc \e¹¹cr Jar| \| J¹:J¹:3JJJ º2+캺3 º2+캺3 º2+캺3 +ºì5 2c353c
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²¹ar ¹rves!ªer! ¯crd ²¹¯ \\ ¯crd ¹2:29:2JJc \c Jrc|er ¹2:29:2JJc 9J2JìJ
²¹ar ¹rves!ªer! ¯crd ²¹¯ S¯ ¯crd ¹2:29:2JJc ²\´ ´a,·!a¹ \ar|e!s J¹:J¹:3JJJ ¹+3JJJJJ ¹+3JJJJJ ¹+3JJJJJ
ºJ99999 - ´¹ass ´re \crey \ar|e! \c!ca¹ ¯crds 29599¹¹¹ \\\ 29599¹¹¹ \\\ \\\ \\\ 2¹º2JJº
8299999 Totals 32c¹5¹5ì ¸¹95+) \\\ 32c¹ì¹¹¹ 9º25J \\\ \\\ \\\ 2¹º2JJº ºc¹5J
E
1
5
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
Schedule DB - Part A - Section 1
NONE
Schedule DB - Part A - Section 2
NONE
Schedule DB - Part A - Section 3
NONE
Schedule DB - Part B - Section 1
NONE
Schedule DB - Part B - Section 2
NONE
Schedule DB - Part B - Section 3
NONE
Schedule DB - Part C - Section 1
NONE
Schedule DB - Part C - Section 2
NONE
Schedule DB - Part C - Section 3
NONE
Schedule DB - Part D - Section 1
NONE
Schedule DB - Part D - Section 2
NONE
E16, E17, E18, E19, E20, E21
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
Schedule DB - Part D - Section 3
NONE
Schedule DB - Part E - Section 1
NONE
E21, E22
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE E - PART 1 - CASH
1
Depository
2
Code
3
Rate of
Ìnterest
4
Amount of Ìnterest
Received
During
Year
5
Amount of Ìnterest
Accrued
December 31 of
Current Year
6
Balance
7
*
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J¹9999º Je,cs·!s ·r de,cs·!cr·es «|·c| dc rc! exceed !|e
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\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
\\\
J399999 ¯c!a¹ ´as| cr Je,cs·! \\\ \\\ ¹¹5J3c+ \\\
J+99999 ´as| ·r ´cª,arys ´!!·ce \\\ \\\ \\\ \\\ \\\
0599999 Total Cash \\\ \\\ ¹¹5J3c+ \\\
TOTALS OF DEPOSITORY BALANCES ON THE LAST DAY OF EACH MONTH DURING THE CURRENT YEAR
1. January +¹2º¹5 4. April ¹259+ºº 7. July ºìºcì+ 10. October 5ºJ¹¹º
2. February ++J¹++ 5. May 5¹9ì+º 8. August +ì5Jº¹ 11. November +c233J
3. March ¹229JJ3 6. June º2¹º52 9. September +JJ3ìc 12. December ¹¹5J3c+
E23
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE E - PART 2 CASH EQUIVALENTS
Showing Investments owned December 31 of current year
1
CUSÌP
Ìdentification
2
Description
3
Code
4
Date Acquired
5
Rate of Ìnterest
6
Maturity Date
7
Book/Adjusted
Carrying Value
8
Amount of Ìnterest
Due & Accrued
9
Gross Ìnvestment Ìncome
JJ2J|3-\J-9 |¯\¯ J·scccr! ´cªªerc·a¹ ²a,er ¹2:29:2JJc 53JJ J¹:2+:2JJì 2+9¹53¹J ¹¹JJ+
¹2c¹9J-\²-2 ´¯´ ¯crd·rç J·scccr! ´cªªerc·a¹ ²a,er ¹2:22:2JJc 52ºJ J¹:23:2JJì ¹+95¹529 2¹929
¹ººº5/-\J-c ´¹·,,er ¯ece·va|¹es J·scccr! ´cªª ²a,er ¹2:2J:2JJc 529J J¹:¹ì:2JJì 99ìc++ì ¹ì592
2¹J+2¯-\|-c ´crs!·!c!·cr S!a!e J·scccr! ´cªª ²a,er ¹2:J¹:2JJc 52cJ J¹:¹J:2JJì 99ºcì9J +523+
52+cº/-\|-5 |eçacy ¯crd·rç J·scccr! ´cªªerc·a¹ ²a,er ¹2:¹3:2JJc 52ºJ J¹:¹J:2JJì ¹99ì352c 55ccJ
5ìJ5\5-\J-+ \ar|e! S!ree! ¯crd·rç J·sc ´cªª ²a,er ¹2:¹3:2JJc 52cJ J¹:¹J:2JJì ¹JJ2ºì5º 2ìº+¹
ºº5c2\-\J-ì ¯|ree ¯·vers ¯crd·rç J·sc ´cªª ²a,er ¹2:¹º:2JJc 52ìJ J¹:¹c:2JJì 99ìì99ì 2J++9
922¹ì\-\3-ì \ar·a|¹e ¯crd·rç J·sc ´cªªerc·a¹ ²a,er ¹2:J¹:2JJc 52+J J¹:J3:2JJì 2+992cº9 ¹¹2ìì3
9293JJ-\|-9 l²S ¯esccrces J·scccr! ´cªªerc·a¹ ²a,er ¹2:J¹:2JJc 53+J J¹:¹J:2JJì 2+9cc+ì¹ ¹¹+ºJ+
0199999 Total Cash Equivalents ¹+9ìc95¹ì +2ì2ºc
E
2
4
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SCHEDULE E PART 3 - SPECIAL DEPOSITS
1 2
Deposits with the State of Domicile For
The Benefit of All Policyholders All Other Special Deposits
States, Etc.
Type of
Deposits
Purpose of
Deposits
3
Book/Adjusted
Carrying Value
4
Fair
Value
5
Book/Adjusted
Carrying Value
6
Fair
Value
1. Alabama AL
2. Alaska AK
3. Arizona AZ
4. Arkansas AR
5. California CA
6. Colorado CO
7. Connecticut CT
8. Delaware DE
9. District of Columbia DC
10. Florida FL
11. Georgia GA
12. Hawaii HÌ
13. Ìdaho ÌD
14. Ìllinois ÌL
15. Ìndiana ÌN
16. Ìowa ÌA
17. Kansas KS
18. Kentucky KY
19. Louisiana LA
20. Maine ME
21. Maryland MD
22. Massachusetts MA
23. Michigan MÌ
24. Minnesota MN
25. Mississippi MS
26. Missouri MO
27. Montana MT
28. Nebraska NE
29. Nevada NV
30. New Hampshire NH
31. New Jersey NJ
32. New Mexico NM
33. New York NY
34. North Carolina NC
35. North Dakota ND
36. Ohio OH
37. Oklahoma OK
38. Oregon OR
39. Pennsylvania PA J ¹rscrarce Je,ar!ªer! ¯e(c·reªer! ¹J¹3¹c ¹J¹cºº
40. Rhode Ìsland RÌ
41. South Carolina SC
42. South Dakota SD
43. Tennessee TN
44. Texas TX
45. Utah UT
46. Vermont VT
47. Virginia VA
48. Washington WA
49. West Virginia WV
50. Wisconsin WÌ
51. Wyoming WY
52. American Samoa AS
53. Guam GU
54. Puerto Rico PR
55. US Virgin Ìslands VÌ
56. Northern Mariana Ìslands MP
57. Canada CN
58. Aggregate Other Alien OT \\\ \\\ J J J J
59. Total \\\ \\\ J J ¹J¹3¹c ¹J¹cºº
DETAILS OF WRITE-INS
5801.
5802.
5803.
5898. Summary of remaining write-ins for
Line 58 from overflow page \\\ \\\ J J J J
5899. Totals (Lines 5801 through 5803 +
5898)(Line 58 above) \\\ \\\ J J J J

E25
3[H$NMJ$$#JH$$$$$$3
SUPPLEMENTAL EXHIBIT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
ACCIDENT AND HEALTH POLICY EXPERIENCE EXHIBIT FOR YEAR
United States PoIicy Forms Direct Business OnIy
For The Year Ended December 31, 2006
(To Be FiIed by ApriI 1)
1
Premiums
Earned
2
Ìncurred
Claims Amount
3
Change in
Contract Reserves
4
Loss Ratio
(2+3)/1
5
Number of Policies
or Certificates
as of Dec. 31
6
Number of
Covered Lives
As of Dec. 31
7
Member
Months
A. ÌNDÌVÌDUAL BUSÌNESS
1. Comprehensive Major Medical
1.1 With Contract Reserves 9+J¹3922 º3522¹J9 ¹cº293 º9J¹9 2ºcì3 2ºcì3 32º9º+
1.2 Without Contract Reserves +ìJ2+932 39ºìc295 º+ì9º ¹J+9ì ¹+¹2ì ¹ìJ5+¹
1.3 Subtotal ¹+¹J3ºº5+ ¹2339º+J+ ¹cº293 ºìc¹2 39¹ìJ +2ºJJ +99525
2. Short-Term Medical
2.1 With Contract Reserves JJJJ
2.2 Without Contract Reserves JJJJ
2.3 Subtotal J J J JJJJ J J J
3. Other Medical (Non-Comprehensive)
3.1 With Contract Reserves JJJJ
3.2 Without Contract Reserves JJJJ
3.3 Subtotal J J J JJJJ J J J
4. Specified/Named Disease
4.1 With Contract Reserves JJJJ
4.2 Without Contract Reserves JJJJ
4.3 Subtotal J J J JJJJ J J J
5. Limited Benefit
5.1 With Contract Reserves JJJJ
5.2 Without Contract Reserves JJJJ
5.3 Subtotal J J J JJJJ J J J
6. Student
6.1 With Contract Reserves JJJJ
6.2 Without Contract Reserves JJJJ
6.3 Subtotal J J J JJJJ J J J
7. Accident Only or AD&D
7.1 With Contract Reserves JJJJ
7.2 Without Contract Reserves JJJJ
7.3 Subtotal J J J JJJJ J J J
8. Disability Ìncome ÷ Short-Term
8.1 With Contract Reserves JJJJ
8.2 Without Contract Reserves JJJJ
8.3 Subtotal J J J JJJJ J J J
2
1
0
-
1
SUPPLEMENTAL EXHIBIT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
ACCIDENT AND HEALTH POLICY EXPERIENCE EXHIBIT FOR YEAR
United States PoIicy Forms Direct Business OnIy
For The Year Ended December 31, 2006
(To Be FiIed by ApriI 1)
1
Premiums
Earned
2
Ìncurred
Claims Amount
3
Change in
Contract Reserves
4
Loss Ratio
(2+3)/1
5
Number of Policies
or Certificates
as of Dec. 31
6
Number of
Covered Lives
As of Dec. 31
7
Member
Months
A. ÌNDÌVÌDUAL BUSÌNESS (Continued)
9. Disability Ìncome ÷ Long-Term
9.1 With Contract Reserves JJJJ
9.2 Without Contract Reserves JJJJ
9.3 Subtotal J J J JJJJ J J J
10. Long-Term Care
10.1 With Contract Reserves JJJJ
10.2 Without Contract Reserves JJJJ
10.3 Subtotal J J J JJJJ J J J
11. Medicare Supplement (Medigap)
11.1 With Contract Reserves JJJJ
11.2 Without Contract Reserves JJJJ
11.3 Subtotal J J J JJJJ J J J
12. Dental
12.1 With Contract Reserves JJJJ
12.2 Without Contract Reserves JJJJ
12.3 Subtotal J J J JJJJ J J J
13. State Children's Health Ìnsurance Program
13.1 With Contract Reserves 5c+3ììJc 52J¹J2¹+ ¸39ºº¹º3) º5Jº9 39º3c 39º3c +ì2¹25
13.2 Without Contract Reserves JJJJ
13.3 Subtotal 5c+3ììJc 52J¹J2¹+ ¸39ºº¹º3) º5Jº9 39º3c 39º3c +ì2¹25
14. Medicare
14.1 With Contract Reserves JJJJ
14.2 Without Contract Reserves 2J3¹9¹º5Jº ¹ìº2¹J+J9+ ºììJ5 ¹ººJ59 ¹ººJ59 2235¹3º
14.3 Subtotal 2J3¹9¹º5Jº ¹ìº2¹J+J9+ J ºììJ5 ¹ººJ59 ¹ººJ59 2235¹3º
15. Medicaid
15.1 With Contract Reserves JJJJ
15.2 Without Contract Reserves JJJJ
15.3 Subtotal J J J JJJJ J J J
16. Other Ìndividual Business
16.1 With Contract Reserves JJJJ
16.2 Without Contract Reserves JJJJ
16.3 Subtotal J J J JJJJ J J J
17. Total Ìndividual Business
17.1 With Contract Reserves ¹5J+5¹c2º ¹35532323 ¸3º¹9º9J) ºì5+5 cº5J9 cº5J9 ºJ¹¹J9
17.2 Without Contract Reserves 2Jìº9+3++J ¹º2¹9ºJ3º9 J ºìc+J ¹9º55c 2J2¹ºc 2+J5cì9
18 Grand Total Ìndividual 2229395Jcº ¹95ì5¹2ì¹2 ¸3º¹9º9J) ºìc33 2cìJc5 2ìJc95 32Jc캺
2
1
0
-
1
.
1
SUPPLEMENTAL EXHIBIT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
ACCIDENT AND HEALTH POLICY EXPERIENCE EXHIBIT FOR YEAR
United States PoIicy Forms Direct Business OnIy
For The Year Ended December 31, 2006
(To Be FiIed by ApriI 1)
1
Premiums
Earned
2
Ìncurred
Claims Amount
3
Change in
Contract Reserves
4
Loss Ratio
(2+3)/1
5
Number of Policies
or Certificates
as of Dec. 31
6
Number of
Covered Lives
As of Dec. 31
7
Member
Months
B. GROUP BUSÌNESS
Comprehensive Major Medical
1. Single Employer
1.1 Small Employer 3º92+3++ 3+9ìJcJº º9º+3 +cì5 9ì¹ì ¹2+23J
1.2 Other Employer ¹+¹+cìJìJ ¹¹c¹J¹3J3 º2Jc9 ¹c3¹J 33º9º ++39+9
1.3 Single Employer Subtotal ¹ºJ39¹+¹+ ¹5¹Jì¹9¹¹ J º3ì+ì 2J9º5 +3c¹5 5cº¹ì9
2. Multiple Employer Assns and Trusts JJJJ
3. Other Associations and Discretionary Trusts JJJJ
4. Other Comprehensive Major Medical JJJJ
5. Comprehensive/Major Medical Subtotal ¹ºJ39¹+¹+ ¹5¹Jì¹9¹¹ J º3ì+ì 2J9º5 +3c¹5 5cº¹ì9
Other Medical (Non-Comprehensive)
6. Specified/Named Disease JJJJ
7. Limited Benefit JJJJ
8. Student JJJJ
9. Accident Only or AD&D JJJJ
10. Disability Ìncome ÷ Short-Term JJJJ
11. Disability Ìncome ÷ Long-Term JJJJ
12. Long-Term Care JJJJ
13. Medicare Supplement (Medigap) JJJJ
14. Federal Employees Health Benefit Plans JJJJ
15. Tricare JJJJ
16. Dental JJJJ
17. Other Group Care JJJJ
18. Grand Total Group Business ¹ºJ39¹+¹+ ¹5¹Jì¹9¹¹ J º3ì+ì 2J9º5 +3c¹5 5cº¹ì9
C. OTHER BUSÌNESS
1. Credit (Ìndividual and Group) JJJJ
2. Stop Loss/Excess Loss JJJJ
3. Administrative Services Only \\\ \\\ \\\ \\\
4. Administrative Services Contracts \\\ \\\ \\\ \\\ 299c¹ cì59¹ º23+2¹
5. Grand Total Other Business J J J JJJJ 299c¹ cì59¹ º23+2¹
D. TOTAL BUSÌNESS
1. Total Non U.S. Policy Forms JJJJ
2. Grand Total Ìndividual, Group and Other Business 2+J9ìºc+º2 2¹Jº5º+c23 ¸3º¹9º9J) ºì3+2 3¹ºJ¹¹ 3º¹9J¹ +59º3ºº
2
1
0
-
1
.
2
SUPPLEMENTAL EXHIBIT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
ACCIDENT AND HEALTH POLICY EXPERIENCE EXHIBIT FOR YEAR
PART 1 - INDIVIDUAL POLICIES
SUMMARY
Description
1
Premiums Earned
2
Ìncurred Claims Amount
3
Change in Contract Reserves
4
Loss Ratio
(2+3)/1
1. U.S. Forms Direct Business 2229395Jcº ¹95ì5¹2ì¹2 ¸3º¹9º9J) ºìc33
2. Other Forms Direct Business JJJJ
3. Total Direct Business 2229395Jcº ¹95ì5¹2ì¹2 ¸3º¹9º9J) ºìc33
4. Reinsurance Assumed JJJJ
5. Less Reinsurance Ceded JJJJ
6. Total 2229395Jcº ¹95ì5¹2ì¹2 ¸3º¹9º9J) ºìc33
PART 2 - GROUP POLICIES
SUMMARY
Description
1
Premiums Earned
2
Ìncurred Claims Amount
3
Change in Contract Reserves
4
Loss Ratio
(2+3)/1
1. U.S. Forms Direct Business ¹ºJ39¹+¹+ ¹5¹Jì¹9¹¹ J º3ì+ì
2. Other Forms Direct Business JJJJ
3. Total Direct Business ¹ºJ39¹+¹+ ¹5¹Jì¹9¹¹ J º3ì+ì
4. Reinsurance Assumed JJJJ
5. Less Reinsurance Ceded JJJJ
6. Total ¹ºJ39¹+¹+ ¹5¹Jì¹9¹¹ J º3ì+ì
PART 3 - CREDIT POLICIES (IndividuaI and Group)
SUMMARY
Description
1
Premiums Earned
2
Ìncurred Claims Amount
3
Change in Contract Reserves
4
Loss Ratio
(2+3)/1
1. U.S. Forms Direct Business J J J JJJJ
2. Other Forms Direct Business JJJJ
3. Total Direct Business J J J JJJJ
4. Reinsurance Assumed JJJJ
5. Less Reinsurance Ceded JJJJ
6. Total J J J JJJJ
PART 4 - ALL INDIVIDUAL,GROUP AND CREDIT POLICIES
SUMMARY
Description
1
Premiums Earned
2
Ìncurred Claims Amount
3
Change in Contract Reserves
4
Loss Ratio
(2+3)/1
1. U.S. Forms Direct Business 2+J9ìºc+º2 2¹Jº5º+c23 ¸3º¹9º9J) ºì3+2
2. Other Forms Direct Business J J J JJJJ
3. Total Direct Business 2+J9ìºc+º2 2¹Jº5º+c23 ¸3º¹9º9J) ºì3+2
4. Reinsurance Assumed J J J JJJJ
5. Less Reinsurance Ceded J J J JJJJ
6. Total 2+J9ìºc+º2 2¹Jº5º+c23 ¸3º¹9º9J) ºì3+2
2
1
0
-
2
NONE
3[H$NMJ$$#JMH$$H$$3
SUPPLEMENTAL EXHIBIT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SUPPLEMENTAL INVESTMENT RISKS INTERROGATORIES
For The Year Ended December 31, 2006
(To Be Filed by April 1)
´¯ ¯|e /eys!cre dea¹!| ²¹ar les! ¹rc
Address (City, State and Zip Code) ²·!!s|crç| ²| ¹5222-3J23
NAÌC Group Code Jº¹2 NAÌC Company Code 95J+º Employer's ÌD Number 25-¹522+5ì
The Ìnvestment Risks Ìnterrogatories are to be filed by April 1. They are also to be included with the Audited Statutory Financial Statements.
Answer the following interrogatories by reporting the applicable U. S. dollar amounts and percentages of the reporting entity's total admitted assets held in that category of
investments.
1. Reporting entity's total admitted assets as reported on Page 2 of this annual statement. $ ì22c¹¹+3J
2. Ten largest exposures to a single issuer/borrower/investment.
1
Ìssuer
2
Description of Exposure
3
Amount
4
Percentage of Total
Admitted Assets
2.01 |¯\¯ Jcrd $ 25+5ì¹¹c 35 %
2.02 \ar·a|¹e ¯crd·rç ´cªªerc·a¹ ²a,er $ 2+992cº9 35 %
2.03 l²S ¯esccrces ´cr,cra!·cr ´cªªerc·a¹ ²a,er $ 2+9cc+ìJ 35 %
2.04 |eçacy ¯crd·rç ´cªªerc·a¹ ²a,er $ ¹99ì352c 2º %
2.05 ´¯´ ¯crd·rç ´cªªerc·a¹ ²a,er $ ¹+95¹52º 2¹ %
2.06 ²¹ar ¹rves!ªer! ¯crd \crey \ar|e! ¯crd $ ¹+3JJJJJ 2J %
2.07 \ar|e! S!ree! ¯crd·rç ´cªªerc·a¹ ²a,er $ ¹JJ2ºì5º ¹+ %
2.08 ´crs!·!c!·cr S!a!e ¯crd·rç ´cªªerc·a¹ ²a,er $ 99ºcì9J ¹+ %
2.09 ¯|ree ¯·vers ¯crd·rç ´cªªerc·a¹ ²a,er $ 99ìì99c ¹+ %
2.10 ´¹·,,er ¯ece·va|¹es ´cªªerc·a¹ ²a,er $ 99ìc++ì ¹+ %
3. Amounts and percentages of the reporting entity's total admitted assets held in bonds and preferred stocks by NAÌC rating.
Bonds 1 2 Preferred Stocks 3 4
3.01 NAÌC-1 $ c¹cº959+c º5+ % 3.07 P/RP-1 $ JJ %
3.02 NAÌC-2 $ ¹+23ìºcº 2J % 3.08 P/RP-2 $ JJ %
3.03 NAÌC-3 $ J JJ % 3.09 P/RP-3 $ JJ %
3.04 NAÌC-4 $ J JJ % 3.10 P/RP-4 $ JJ %
3.05 NAÌC-5 $ J JJ % 3.11 P/RP-5 $ JJ %
3.06 NAÌC-6 $ J JJ % 3.12 P/RP-6 $ JJ %
4. Assets held in foreign investments:
4.01 Are assets held in foreign investments less than 2.5% of the reporting entity's total admitted assets? \es |\| \c | |
4.02 Total admitted assets held in foreign investments $ 5캺c32 Jº %
4.03 Foreign-currency-denominated investments $ JJ %
4.04 Ìnsurance liabilities denominated in that same foreign currency $ JJ %
Ìf response to 4.01 above is yes, responses are not required for interrogatories 5 ÷ 10.
285
SUPPLEMENTAL EXHIBIT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SUPPLEMENTAL INVESTMENT RISKS INTERROGATORIES (cont.)
5. Aggregate foreign investment exposure categorized by NAÌC sovereign rating:
6. Two largest foreign investment exposures in a single country, categorized by NAÌC sovereign rating:
1 2
7. Aggregate unhedged foreign currency exposure $ JJ %
8. Aggregate unhedged foreign currency exposure categorized by the country's NAÌC sovereign rating:
9. Two largest unhedged foreign currency exposures to a single country, categorized by the country's NAÌC sovereign rating:
10. Ten largest non-sovereign (i.e. non-governmental) foreign issues:
285.1
SUPPLEMENTAL EXHIBIT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SUPPLEMENTAL INVESTMENT RISKS INTERROGATORIES (cont.)
11. Amounts and percentages of the reporting entity's total admitted assets held in Canadian investments and unhedged Canadian currency exposure:
11.01 Are assets held in Canadian investments less than 2.5% of the reporting entity's total admitted assets? \es |\| \c | |
Ìf response to 11.01 is yes, detail is not required for the remainder of Ìnterrogatory 11
12. Report aggregate amounts and percentages of the reporting entity's total admitted assets held in investments with contractual sales restrictions.
12.01 Are assets held in investments with contractual sales restrictions less than 2.5% of the reporting entity's total admitted assets? \es |\| \c | |
Ìf response to 12.01 is yes, responses are not required for the remainder of Ìnterrogatory 12.
13. Amounts and percentages of admitted assets held in the ten largest equity interests:
13.01 Are assets held in equity interest less than 2.5% of the reporting entity's total admitted assets \es |\| \c | |
Ìf response to 13.01 above is yes, responses are not required for the remainder of Ìnterrogatory 13.
285.2
SUPPLEMENTAL EXHIBIT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SUPPLEMENTAL INVESTMENT RISKS INTERROGATORIES (cont.)
14. Amounts and percentages of the reporting entity's total admitted assets held in nonaffiliated, privately placed equities:
14.01 Are assets held in nonaffiliated, privately placed equities less than 2.5% of the reporting entity's total admitted assets? \es |\| \c | |
Ìf response to 14.01 above is yes, responses are not required for the remainder of Ìnterrogatory 14.
15. Amounts and percentages of the reporting entity's total admitted assets held in general partnership interests:
15.01 Are assets held in general partnership interests less than 2.5% of the reporting entity's total admitted assets? \es |\| \c | |
Ìf response to 15.01 is yes, responses are not required for the remainder of Ìnterrogatory 15.
16. Amounts and percentages of the reporting entity's total admitted assets held in mortgage loans:
16.01 Are mortgage loans reported in Schedule B less than 2.5% of the reporting entity's total admitted assets? \es |\| \c | |
Ìf response to 16.01 above is yes, responses are not required for the remainder of Ìnterrogatory 16 and Ìnterrogatory 17.
285.3
SUPPLEMENTAL EXHIBIT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SUPPLEMENTAL INVESTMENT RISKS INTERROGATORIES (cont.)
18. Amounts and percentages of the reporting entity's total admitted assets held in each of the five largest investments in real estate:
18.01
Are assets held in real estate reported less than 2.5% of the reporting entity's total admitted assets? \es |\| \c | |
Ìf response to 18.01 above is yes, responses are not required for the remainder of Ìnterrogatory 18.
19. Report aggregate amounts and percentages of the reporting entity's total admitted assets held in investments held in mezzanine real estate loans:
19.01
Are assets held in investments held in mezzanine real estate loans less than 2.5% of the reporting entity's total admitted assets? \es |\| \c | |
Ìf response to 19.01 above is yes, responses are not required for the remainder of Ìnterrogatory 19.
285.4
SUPPLEMENTAL EXHIBIT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SUPPLEMENTAL INVESTMENT RISKS INTERROGATORIES (cont.)
20. Amounts and percentages of the reporting entity's total admitted assets subject to the following types of agreements:
At Year-end At End of Each Quarter
1st Quarter 2nd Quarter 3rd Quarter
1 2 3 4 5
20.01 Securities lending agreements (do
not include assets held as
collateral for such transactions) $ ¹º5Jì525 2c % $ +c5++Jc3 $ +cºcºº2J $ 3J9º5ìºJ
20.02 Repurchase agreements $ JJ % $ $ $
20.03 Reverse repurchase agreements $ JJ % $ $ $
20.04 Dollar repurchase agreements $ JJ % $ $ $
20.05 Dollar reverse repurchase
agreements $ JJ % $ $ $
21. Amounts and percentages of the reporting entity's total admitted assets for warrants not attached to other financial instruments, options, caps, and floors:
Owned Written
1 2 3 4
21.01 Hedging $ JJ % $ JJ %
21.02
Ìncome generation $ JJ % $ JJ %
21.03
Other $ JJ % $ JJ %
22. Amounts and percentages of the reporting entity's total admitted assets of potential exposure for collars, swaps, and forwards:
At Year-end At End of Each Quarter
1st Quarter 2nd Quarter 3rd Quarter
1 2 3 4 5
22.01 Hedging $ JJ % $ $ $
22.02 Ìncome generation $ JJ % $ $ $
22.03 Replications $ JJ % $ $ $
22.04 Other $ JJ % $ $ $
23. Amounts and percentages of the reporting entity's total admitted assets of potential exposure for futures contracts:
At Year-end At End of Each Quarter
1 2
1st Qtr
3
2nd Qtr
4
3rd Qtr
5
23.01 Hedging $ JJ % $ $ $
23.02 Ìncome generation $ JJ % $ $ $
23.03 Replications $ JJ % $ $ $
23.04 Other $ JJ % $ $ $
285.5
3[H$NMJ$$#mH$$$$$$3
SUPPLEMENTAL EXHIBIT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
LONG-TERM CARE (LTC) EXPERIENCE REPORTING FORM - A
NATIONWIDE EXPERIENCE
PART 1 - LTC INSURANCE EXPERIENCE BY CALENDAR DURATION
NAÌC Group Code 0812 (TO BE FÌLED BY APRÌL 1) NAÌC Company Code 95048
Calendar Duration
1
Policy Form
2
First Year Ìssued
3
Earned Premiums by
Duration
4
Ìncurred and Paid
5
Reserve for Ìncurred but
Unpaid
6
Total Ìncurred Claims
7
Change in Policy (Active
Life) Reserves Over the
Experience Period
8
Anticipated Calendar
Duration Loss Percentage
9
Number of Ìnsured Lives
J J
¹ \\\ \\\ J
2 \\\ \\\ J
3 \\\ \\\ J
+ \\\ \\\ J
5-9 \\\ \\\ J
¹J- \\\ \\\ J
Total Calendar Year J J J J J \\\ J
Policy Form - Calendar Year (a) Actual Loss Percentage (Col. 6/Col. 3) JJ ; (b) Anticipated Loss Percentage (see Ìnstruction Form A Ìtem 9) (c) Actual to Anticipated Loss Percentage (a/b) JJ
1 2 3 4 5 6 7 8 9
J
¹ \\\ \\\
2 \\\ \\\
3 \\\ \\\
+ \\\ \\\
5-9 \\\ \\\
¹J- \\\ \\\
Total Calendar Year \\\
Policy Form - Calendar Year (a) Actual Loss Percentage (Col. 6/Col. 3) ; (b) Anticipated Loss Percentage (see Ìnstruction Form A Ìtem 9) (c) Actual to Anticipated Loss Percentage (a/b)
1 2 3 4 5 6 7 8 9
J
¹ \\\ \\\
2 \\\ \\\
3 \\\ \\\
+ \\\ \\\
5-9 \\\ \\\
¹J- \\\ \\\
Total Calendar Year \\\
Policy Form - Calendar Year (a) Actual Loss Percentage (Col. 6/Col. 3) ; (b) Anticipated Loss Percentage (see Ìnstruction Form A Ìtem 9) (c) Actual to Anticipated Loss Percentage (a/b)
3
1
0
NONE
3[H$NMJ$$#mH$$$H$$3
SUPPLEMENTAL EXHIBIT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
LONG-TERM CARE (LTC) EXPERIENCE REPORTING FORM - A
Part 2 - LTC INSURANCE EXPERIENCE BY LINE OF BUSINESS
1
Earned Premiums
By Duration
2
Ìncurred and Paid
3
Reserve for
Ìncurred But Unpaid
4
Total Ìncurred Claims
1. Ìndividual J
2. Group direct response J
3. Other group J
4. Total (sum Lines 1 to 3) J J J J
Part 3 - EXPERIENCE FOR PRODUCTS PROVIDING LTC INSURANCE OTHER THAN ON A STAND ALONE BASIS
Premiums and Annuity Considerations Benefits
1
Total
2
Long-Term Care Benefit
Component
3
Total
4
Applied to Provide Long-
Term Care Benefits
A. Products Providing LTC Benefits With Distinct LTC Premiums
1. Ìndividual -- Life
2. Ìndividual -- Annuity
3. Ìndividual -- Disability
4. Ìndividual ÷ Other
5. Group -- Life
6. Group -- Annuity
7. Group -- Disability
8. Group -- Other
B. Products Providing LTC Benefits Without Distinct LTC Premiums
1. Ìndividual -- Life
2. Ìndividual -- Annuity
3. Ìndividual -- Disability
4. Ìndividual -- Other
5. Group -- Life
6. Group -- Annuity
7 Group -- Disability
8. Group -- Other
3
1
0
NONE
NONE
3[H$NMJ$$#mJ$$$H$$3
SUPPLEMENTAL EXHIBIT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
LONG-TERM CARE EXPERIENCE REPORTING FORM - B
NATIONWIDE EXPERIENCE
CUMULATIVE CLAIM EXPERIENCE
NAÌC Group Code 0812 (TO BE FÌLED BY APRÌL 1) NAÌC Company Code 95048
Calendar Duration
1
Policy Form
2
First Year Ìssued
3
Actual Earned Premiums
4
Actual Ìncurred Claims
5
Anticipated Earned
Premium
6
Anticipated Ìncurred Claim
7
Policy Reserves
8
Number of Ìnsured Lives
J
¹ \\\ \\\
2 \\\ \\\
3 \\\ \\\
+ \\\ \\\
5-9 \\\ \\\
¹J- \\\ \\\
Cumulative Total J J \\\ \\\ \\\ \\\
Policy Form - Cumulative (a) Actual Loss Percentage (Col. 4/Col. 3) JJ ; (b) Anticipated Loss Percentage (see Ìnstruction Form B Ìtems 9 and 10) (c) Actual to Anticipated Loss Percentage (a/b) JJ
1 2 3 4 5 6 7 8
J
¹ \\\ \\\
2 \\\ \\\
3 \\\ \\\
+ \\\ \\\
5-9 \\\ \\\
¹J- \\\ \\\
Cumulative Total \\\ \\\ \\\ \\\
Policy Form - Cumulative (a) Actual Loss Percentage (Col. 4/Col. 3) ; (b) Anticipated Loss Percentage (see Ìnstruction Form B Ìtems 9 and 10) (c) Actual to Anticipated Loss Percentage (a/b)
1 2 3 4 5 6 7 8
J
¹ \\\ \\\
2 \\\ \\\
3 \\\ \\\
+ \\\ \\\
5-9 \\\ \\\
¹J- \\\ \\\
Cumulative Total \\\ \\\ \\\ \\\
Policy Form - Cumulative (a) Actual Loss Percentage (Col. 4/Col. 3) ; (b) Anticipated Loss Percentage (see Ìnstruction Form B Ìtems 9 and 10) (c) Actual to Anticipated Loss Percentage (a/b)
3 4 5 6 7 8
1. Ìndividual \\\ \\\ \\\ \\\
2. Group direct response \\\ \\\ \\\ \\\
3. Other group \\\ \\\ \\\ \\\
4. Total (sum Lines 1 to 3) J J \\\ \\\ \\\ \\\
5. Actual total reported experience through statement year \\\ \\\ \\\ \\\
6. Actual total reported experience through prior year \\\ \\\ \\\ \\\
7. Calendar year reported experience (Lines 5 minus 6) J J \\\ \\\ \\\ \\\
Note: a. Was experience prior to 1991 used in preparing this form? \es | | \c | |
b. Ìf yes, indicate the calendar years that were included:
3
2
0
NONE
NONE
3[H$NMJ$$#mm$$$$$$3
SUPPLEMENTAL EXHIBIT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
LONG-TERM CARE EXPERIENCE REPORTING FORM - C
EXPERIENCE IN THE STATE OF ............
CUMULATIVE CLAIM EXPERIENCE
NAÌC Group Code 0812 (TO BE FÌLED BY APRÌL 1) NAÌC Company Code 95048
Calendar Duration
1
Policy Form
2
First Year Ìssued
3
Actual Earned Premiums
4
Actual Ìncurred Claims
5
Anticipated Earned
Premium
6
Anticipated Ìncurred Claim
7
Policy Reserves
8
Number of Ìnsured Lives
J
¹ \\\ \\\
2 \\\ \\\
3 \\\ \\\
+ \\\ \\\
5-9 \\\ \\\
¹J- \\\ \\\
Cumulative Total J J \\\ \\\ \\\ \\\
Policy Form - Cumulative (a) Actual Loss Percentage (Col. 4/Col. 3) JJ ; (b) Anticipated Loss Percentage (see Ìnstruction Form C Ìtems 9 and 10) (c) Actual to Anticipated Loss Percentage (a/b) JJ
1 2 3 4 5 6 7 8
J
¹ \\\ \\\
2 \\\ \\\
3 \\\ \\\
+ \\\ \\\
5-9 \\\ \\\
¹J- \\\ \\\
Cumulative Total \\\ \\\ \\\ \\\
Policy Form - Cumulative (a) Actual Loss Percentage (Col. 4/Col. 3) ; (b) Anticipated Loss Percentage (see Ìnstruction Form C Ìtems 9 and 10) (c) Actual to Anticipated Loss Percentage (a/b)
1 2 3 4 5 6 7 8
J
¹ \\\ \\\
2 \\\ \\\
3 \\\ \\\
+ \\\ \\\
5-9 \\\ \\\
¹J- \\\ \\\
Cumulative Total \\\ \\\ \\\ \\\
Policy Form - Cumulative (a) Actual Loss Percentage (Col. 4/Col. 3) ; (b) Anticipated Loss Percentage (see Ìnstruction Form C Ìtems 9 and 10) (c) Actual to Anticipated Loss Percentage (a/b)
3 4 5 6 7 8
1. Ìndividual \\\ \\\ \\\ \\\
2. Group direct response \\\ \\\ \\\ \\\
3. Other group \\\ \\\ \\\ \\\
4. Total (sum Lines 1 to 3) J J \\\ \\\ \\\ \\\
5. Actual total reported experience through statement year \\\ \\\ \\\ \\\
6. Actual total reported experience through prior year \\\ \\\ \\\ \\\
7. Calendar year reported experience (Lines 5 minus 6) J J \\\ \\\ \\\ \\\
Note: a. Was experience prior to 1991 used in preparing this form? \es | | \c | |
b. Ìf yes, indicate the calendar years that were included:
3
3
0
NONE
NONE
3[H$NMJ$$#m#$$$$$$3
SUPPLEMENTAL EXHIBIT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
MEDICARE SUPPLEMENT INSURANCE EXPERIENCE EXHIBIT
For The Year Ended December 31, 2006
(To Be FiIed by March 1)
FOR THE STATE OF ............
NAÌC Group Code NAÌC Company Code
Address (City, State and Zip Code)
Person Completing This Exhibit
Title Telephone Number
1 2 3 4 5 6 7 8 9 10 Policies Ìssued Through 2003 Policies Ìssued in 2004, 2005, 2006
11 Ìncurred Claims 14 15 Ìncurred Claims 18
Compliance
with OBRA
Policy Form
Number
Standardized
Medicare
Supplement
Benefit Plan
Medicare
Select
Plan
Character-
istics
Date
Approved
Date
Approval
Withdrawn
Date
Last
Amended
Date
Closed
Policy Marketing Trade
Name
Premiums
Earned
12
Amount
13
Percent of
Premiums
Earned
Number of
Covered
Lives
Premiums
Earned
16
Amount
17
Percent of
Premiums
Earned
Number of
Covered
Lives
0199999 Total Experience on Ìndividual Policies J J JJ J J J JJ J
0299999 Total Experience on Group Policies J J JJ J J J JJ J
GENERAL ÌNTERROGATORÌES
1. Ìf response in Column 1 is no, give complete and full details:
2. Claims address and contact person provided to the Secretary of Health and Human Services as required by 42 U.S.C. 1395ss(c)(3)(E) for this state.
2.1 Address:
2.2 Contact Person and Phone Number:
3. Billing address and contact person for user fees established under 41 U.S.C. 1395u(h)(3)(B).
3.1 Address:
3.2 Contact Person and Phone Number:
4. Explain any policies identified above as policy type "O".

3
6
0
NONE
3[H$NMJ$$#m#HH[$$$3
ANNUAL STATEMENT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
MEDICARE PART D COVERAGE SUPPLEMENT
For The Year Ended December 31, 2006
(To Be FiIed by March 1)
Ìndividual Coverage Group Coverage 5
1
Ìnsured
2
Uninsured
3
Ìnsured
4
Uninsured
Total
Cash
1.
Premiums Collected
1.1Standard Coverage
1.11 With Reinsurance Coverage \\\ \\\ J
1.12 Without Reinsurance Coverage \\\ \\\ J
1.13 Risk-Corridor Payment Adjustments \\\ \\\ J
1.2Supplemental Benefits \\\ \\\ J
2. Premiums Due and Uncollected-change
2.1Standard Coverage
2.11 With Reinsurance Coverage \\\ \\\ \\\
2.12 Without Reinsurance Coverage \\\ \\\ \\\
2.2Supplemental Benefits \\\ \\\ \\\
3. Unearned Premium and Advance Premium-change
3.1Standard Coverage
3.11 With Reinsurance Coverage \\\ \\\ \\\
3.12 Without Reinsurance Coverage \\\ \\\ \\\
3.2Supplemental Benefits \\\ \\\ \\\
4. Risk-Corridor Payment Adjustments-change
4.1Receivable \\\ \\\ \\\
4.2Payable \\\ \\\ \\\
5. Earned Premiums
5.1Standard Coverage
5.11 With Reinsurance Coverage \\\ \\\ \\\
5.12 Without Reinsurance Coverage \\\ \\\ \\\
5.13 Risk-Corridor Payment Adjustments \\\ \\\ \\\
5.2Supplemental Benefits \\\ \\\ \\\
6. Total Premiums J \\\ J \\\ J
7. Claims Paid
7.1Standard Coverage
7.11 With Reinsurance Coverage \\\ \\\ J
7.12 Without Reinsurance Coverage \\\ \\\ J
7.2Supplemental Benefits \\\ \\\ J
8. Claim Reserves and Liabilities-change
8.1.Standard Coverage
8.11 With Reinsurance Coverage \\\ \\\ \\\
8.12 Without Reinsurance Coverage \\\ \\\ \\\
8.2Supplemental Benefits \\\ \\\ \\\
9. Health Care Receivables-change
9.1Standard Coverage
9.11 With Reinsurance Coverage \\\ \\\ \\\
9.12 Without Reinsurance Coverage \\\ \\\ \\\
9.2Supplemental Benefits \\\ \\\ \\\
10 Claims Ìncurred
10.1Standard Coverage
10.11 With Reinsurance Coverage \\\ \\\ \\\
10.12 Without Reinsurance Coverage \\\ \\\ \\\
10.2Supplemental Benefits \\\ \\\ \\\
11. Total Claims J \\\ J \\\ J
12. Reinsurance Coverage and Low Ìncome Cost Sharing
12.1Claims Paid ÷ Net to Reimbursements Applied \\\ \\\ J
12.2Reimbursements Received but Not Applied-change \\\ \\\ J
12.3Reimbursements Receivable-change \\\ \\\ \\\
12.4Health Care Receivables-change \\\ \\\ \\\
13. Aggregate Policy Reserves-change \\\
14. Expenses Paid \\\ \\\ J
15. Expenses Ìncurred \\\ \\\ \\\
16. Underwriting Gain/Loss J \\\ J \\\ \\\
17. Cash Flow Results \\\ \\\ \\\ \\\ J
365
NONE
3[H$NMJ$$#N#$$$H$$3
SUPPLEMENTAL EXHIBIT FOR THE YEAR 2006 OF THE Keystone HeaIth PIan West, Inc.
SUPPLEMENTAL COMPENSATION EXHIBIT
(To be filed by March 1)
PART 1 - INTERROGATORIES
1. The reporting insurer is a member of a group of insurers or other holding company system: \es | \ | \c | | Ìf yes, do the amounts below represent
1) total gross compensation paid to each individual by or on behalf of all companies which are part of the group:
\es | \ | or 2) allocation to each insurer: \es | |
2. Did any person while an officer, director, or trustee of the reporting entity receive directly or indirectly, during the period covered by this statement any
commission on the business transactions of the reporting entity? \es | | \c | \ |
3. Except for retirement plans generally applicable to its staff employees, has the reporting entity any agreement with any person, other than contracts
with its agents for the payment of commission whereby it agrees that for any service rendered or to be rendered, that he/she shall receive directly or
indirectly, any salary, compensation or employment that will extend beyond a period of 12 months from the date of the agreement?. \es | | \c | \ |
PART 2 - OFFICERS AND EMPLOYEES COMPENSATION
1 2 Annual Compensation
Name and Principal Position Year
3
Salary
4
Bonus
5
All Other
Compensation
6
Totals
´|·e! cxecc!·ve ´!!·cer - 2006 J
2005 J
2004 J
1. \c!e ¯|e ´cr,cra!·cr |as rc eª,¹cyees ¯|e ccª,ersa!·cr 2006 J
ex,erse reccrded |y !|e ´cr,cra!·cr 2005 J
resc!s !rcª d·ç|ªar| ¹rc !cr serv·ces ,er!crªed !cr !|e 2004 J
2. ´cr,cra!·cr See d·ç|ªar| ¹rc's 2006 J
sc,,¹eªer!a¹ ccª,ersa!·cr ex|·|·! !cr arrca¹ ccª,ersa!·cr 2005 J
de!a·¹ 2004 J
3. 2006 J
2005 J
2004 J
4. 2006 J
2005 J
2004 J
5. 2006 J
2005 J
2004 J
6. 2006 J
2005 J
2004 J
7. 2006 J
2005 J
2004 J
8. 2006 J
2005 J
2004 J
9. 2006 J
2005 J
2004 J
PART 3 - DIRECTOR COMPENSATION
1
Name and Principal Position or Occupation
2
Compensation Paid or
Deferred for Services
as Director
3
All Other
Compensation Paid or
Deferred
4
Totals
¯c|er! l·¹¹·aª ¯crd \J J·rec!cr c+JJ c+JJ
Jcra¹d |ee cdJ c+JJ c+JJ
¯·c|ard .cse,| ´|er c+JJ c+JJ
¯·ªc!|y cd«ard ²ar|s c+JJ c+JJ
l·¹¹·aª darvey ²cr!ªar c+JJ c+JJ
460

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