Major Rating Factors:
Weak profitability index (0.8 on a scale of 0 to 10) with 113.9 million in losses in the last five years. Average return on equity has been poor at -63.9%. Weak overall results on stability tests (0.8) based on a significant -34% decrease in enrollment during the period, a steep decline in capital during 2021. Rating is significantly influenced by the weak financial results of Oscar Health Inc. Weak liquidity (2.8) as a spike in claims may stretch capacity.
Other Rating Factors:
Excellent capitalization (7.7) based on good current risk-adjusted capital (severe loss scenario) reflecting significant improvement over results in 2017. Excellent quality investment portfolio (9.9) containing small junk bond exposure.
Principal Lines of Business:
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Licensed in:
NY
Principal Enrollment Breakdown:
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