C
Magnolia Health Plan Inc
Rating Date
September 2023
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: Fair quality investment portfolio (4.2 on a scale of 0 to 10). Fair overall results on stability tests (4.5) based on inordinate decline in capital during 2021. Rating is significantly influenced by the acceptable financial results of Centene Corporation. Weak profitability index (0.9) with operating losses during 2017, 2018, 2019 and 2021. Average return on equity over the last five years has been poor at -27.5%.
Other Rating Factors: Excellent capitalization (8.1) based on good current risk-adjusted capital (severe loss scenario) reflecting improvement over results in 2018. Excellent liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Principal Lines of Business: --
Licensed in: MS
Principal Enrollment Breakdown: --
Other Highlights
Medical Loss Ratio
Medical Expense
Per Member Per Month ($)
648
Provider Compensation ($000)
Capitation Pay
Fee For Service
0
Contractual Pay
Salary
Bonus
Other
--
Member Physicians
Enrollment
Total Patient Encounters
Physician
Non-Physician
Corporate Info
Group Affiliation
Centene Corporation
Investment Rating
CNC
Company Address
1020 Highland Colony Parkway
Ridgeland, MS 39157
Phone Number
(314) 725-4477
NAIC Number
13923
Largest Affiliates
B
Saint Louis, MO - Health
C
Saint Louis, MO - Health
B
Saint Louis, MO - Health
C
Saint Louis, MO - Health
B
Chicago, IL - Health
Weiss Ratings