C
Innovation Health Plan Inc
Rating Date
January 2026
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 profitability index (3.2 on a scale of 0 to 10) with operating losses during 2019. Return on equity has been low, averaging 3.5% over the last five years. Weak overall results on stability tests (2.1) based on excessive premium growth during 2023, rapid enrollment growth during the past five years. Rating is significantly influenced by the acceptable financial results of CVS Health Corporation. Excellent overall capitalization (9.2) based on excellent current risk-adjusted capital (severe loss scenario) despite some fluctuation in capital levels.
Other Rating Factors: Excellent quality investment portfolio (8.7) containing small junk bond exposure. Excellent liquidity (7.3) with ample operational cash flow and liquid investments.
Principal Lines of Business: --
Licensed in: DC, MD, VA
Principal Enrollment Breakdown: --
Other Highlights
Medical Loss Ratio
Medical Expense
Per Member Per Month ($)
277
Provider Compensation ($000)
Capitation Pay
319
Fee For Service
Contractual Pay
Salary
0
Bonus
0
Other
--
Member Physicians
Enrollment
Total Patient Encounters
Physician
Non-Physician
Corporate Info
Group Affiliation
CVS Health Corporation
Investment Rating
CVS
Company Address
3190 Fairview Park Drive
Falls Church, VA 22042
Phone Number
(703) 914-2925
NAIC Number
15098
Largest Affiliates
C
Franklin, TN - Health
B
Blue Bell, PA - Health
B
Plantation, FL - Health
B
Downers Grove, IL - Health
B
Richmond, VA - Health