WellCare of Alabama Inc
Major Rating Factors:
Fair quality investment portfolio (3.1 on a scale of 0 to 10). Fair overall results on stability tests (3.7) based on rapid premium growth over the last five years, a steep decline in capital during 2023 and rapid enrollment growth during the past five years. Rating is significantly influenced by the strong financial results of Centene Corporation. Weak profitability index (1.8) with operating losses during 2020, 2021 and 2023. Average return on equity over the last five years has been poor at -4.7%.
Other Rating Factors:
Excellent capitalization index (8.1) based on excellent current risk-adjusted capital (severe loss scenario) despite some fluctuation in capital levels. Excellent liquidity (7.4) with ample operational cash flow and liquid investments.
Principal Lines of Business:
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Licensed in:
AL
Principal Enrollment Breakdown:
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Other Highlights
Medical Loss Ratio
Medical Expense
Per Member Per Month ($)
Provider Compensation ($000)
Capitation Pay
Fee For Service
Contractual Pay
Salary
Bonus
Other
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Member Physicians
Enrollment
Total Patient Encounters
Physician
Non-Physician
Corporate Info
Group Affiliation
Centene Corporation
Investment Rating
Company Address
7700 Forsyth Boulevard
Saint Louis, MO 63105
Saint Louis, MO 63105
Phone Number
(314) 725-4477
NAIC Number
16239
Website
Largest Affiliates