Medica Health Plans
Major Rating Factors:
Excellent profitability (8.1 on a scale of 0 to 10) despite a decline in earnings during 2023. Excellent overall capitalization (10.0) based on excellent current risk-adjusted capital (severe loss scenario). Furthermore, this high level of risk-adjusted capital has been consistently maintained in previous years. Excellent overall results on stability tests (7.7) based on consistent premium and capital growth in the last five years but a decline in the number of member physicians during 2023. Rating is influenced by the strong financial results of Medica Holding Co.
Other Rating Factors:
Excellent liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Good quality investment portfolio (6.7) containing junk bond exposure equal to 63.9% of capital.
Principal Lines of Business:
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Licensed in:
IA, MN, ND, NE, SD
Principal Enrollment Breakdown:
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Other Highlights
Medical Loss Ratio
Medical Expense
Per Member Per Month ($)
Provider Compensation ($000)
Capitation Pay
Fee For Service
Contractual Pay
Salary
Bonus
Other
Member Physicians
Enrollment
Total Patient Encounters
Physician
Non-Physician
Corporate Info
Group Affiliation
Medica Holding Co
Investment Rating
--
Company Address
401 Carlson Parkway
Minnetonka, MN 55305
Minnetonka, MN 55305
Phone Number
(800) 952-3455
NAIC Number
52626
Website
Largest Affiliates