Hamaspik Inc
Major Rating Factors:
Weak profitability index (0.2 on a scale of 0 to 10) with operating losses during 2020, 2021 and 2022. Average return on equity over the last five years has been poor at -44.1%. Fair overall results on stability tests (3.3) in spite of healthy premium and capital growth during 2023 but fair risk diversification due to the size of the company's affiliate group. Good capitalization index (5.0) 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.
Other Rating Factors:
Good liquidity (6.7) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Excellent quality investment portfolio (9.7) containing no exposure to mortgages, junk bonds, or unaffiliated stocks.
Principal Lines of Business:
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Licensed in:
NY
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
None
Investment Rating
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Company Address
775 North Main Street
Spring Valley, NY 10977
Spring Valley, NY 10977
Phone Number
(855) 552-4642
NAIC Number
16621
Website
Largest Affiliates
No affiliate information available.