Clover HMO New Jersey Inc
Major Rating Factors:
Weak profitability index (0.9 on a scale of 0 to 10) with operating losses during 2019, 2020 and 2021. Average return on equity over the last five years has been poor at -39.2%. Good overall results on stability tests (6.0) despite a decline in enrollment during 2022. Rating is significantly influenced by the weak financial results of Clover Health Investments Corp. Good liquidity (6.3) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors:
Excellent capitalization index (7.6) based on good current risk-adjusted capital (severe loss scenario). However, risk-adjusted capital has reached as low as the weak level during recent years. Excellent quality investment portfolio (9.9) containing small junk bond exposure.
Principal Lines of Business:
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Licensed in:
NJ, TX
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
Clover Health Investments Corp
Investment Rating
Company Address
30 Montgomery Street
Jersey City, NJ 07302
Jersey City, NJ 07302
Phone Number
(201) 432-2133
NAIC Number
16347
Website
Largest Affiliates