B
Aetna Health of Michigan Inc
Rating Date
April 2025
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Total
Assets
Capital
Health
Premiums
Net
Income
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Major Rating Factors: Good profitability index (4.9 on a scale of 0 to 10) with operating losses during 2021. Return on equity has been low, averaging 2.5% over the last five years. Excellent capitalization index (7.7) based on good current risk-adjusted capital (severe loss scenario). However, risk-adjusted capital has reached as low as the weak level during recent years. Excellent quality investment portfolio (8.5) containing small junk bond exposure.
Other Rating Factors: Excellent overall results on stability tests (7.2) based on healthy premium and capital growth during 2022. Rating is significantly influenced by the strong financial results of CVS Health Corporation. Excellent liquidity (7.1) with ample operational cash flow and liquid investments.
Principal Lines of Business: --
Licensed in: IL, IN, MI
Principal Enrollment Breakdown: --
Other Highlights
Medical Loss Ratio
Medical Expense
Per Member Per Month ($)
Provider Compensation ($000)
Capitation Pay
Fee For Service
Contractual Pay
Salary
0
Bonus
Other
--
Member Physicians
Enrollment
Total Patient Encounters
Physician
Non-Physician
Corporate Info
Group Affiliation
CVS Health Corporation
Investment Rating
CVS
Company Address
28588 Northwestern Highway
Southfield, MI 48034
Phone Number
(248) 357-7766
NAIC Number
95756
Largest Affiliates
C
Franklin, TN - Health
B
Blue Bell, PA - Health
B
Downers Grove, IL - Health
B
Richmond, VA - Health
B
Linthicum, MD - Health