Major Rating Factors:
Good quality investment portfolio (6.7 on a scale of 0 to 10) containing significant exposure to junk bonds. Good liquidity (6.5) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Excellent profitability (8.6) despite a decline in earnings during 2022.
Other Rating Factors:
Excellent overall capitalization (7.5) based on good current risk-adjusted capital (severe loss scenario). Moreover, capital levels have been consistent in recent years. Excellent overall results on stability tests (7.9) based on consistent premium and capital growth in the last five years but rapid enrollment growth during the past five years. Rating is significantly influenced by the weak financial results of CVS Health Corporation.
Principal Lines of Business:
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Licensed in:
NJ
Principal Enrollment Breakdown:
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Other Highlights
Medical Loss Ratio
Medical Expense
Per Member Per Month ($)
Provider Compensation ($000)
Capitation Pay
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Fee For Service
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Contractual Pay
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Salary
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Bonus
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Other
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Member Physicians
Enrollment
Total Patient Encounters
Physician
Non-Physician
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Corporate Info
Group Affiliation
CVS Health Corporation
Investment Rating
Company Address
Three Independence Way
Princeton, NJ 08540
Princeton, NJ 08540
Phone Number
(855) 232-3596
NAIC Number
15611
Largest Affiliates