C
HealthSpring of Florida Inc
Rating Date
September 2023
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Total
Assets
Capital
Health
Premiums
Net
Income
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Major Rating Factors: Weak profitability index (0.9 on a scale of 0 to 10) with 17.3 million in losses in the current year. Return on equity has been fair, averaging 10.0% over the last five years. Weak capitalization index (1.2) based on weak current risk-adjusted capital (severe loss scenario). Furthermore, this low level of risk-adjusted capital has been consistent in previous years. Weak overall results on stability tests (1.6) in spite of steady enrollment growth, averaging 8% over the past five years but a steep decline in capital during 2021. Rating is significantly influenced by the strong financial results of The Cigna Group.
Other Rating Factors: Weak liquidity (0.0) as a spike in claims may stretch capacity. Excellent quality investment portfolio (9.5) containing small junk bond exposure.
Principal Lines of Business: --
Licensed in: FL
Principal Enrollment Breakdown: --
Other Highlights
Medical Loss Ratio
Medical Expense
Per Member Per Month ($)
Provider Compensation ($000)
Capitation Pay
Fee For Service
Contractual Pay
Salary
0
Bonus
Other
Member Physicians
Enrollment
Total Patient Encounters
Physician
Non-Physician
Corporate Info
Group Affiliation
The Cigna Group
Investment Rating
CI
Company Address
500 Great Circle Road
Nashville, TN 37228
Phone Number
(615) 564-3480
NAIC Number
11532
Largest Affiliates
B
Nashville, TN - Health
C
Saint Louis, MO - Health
B
Nashville, TN - Health
C
Phoenix, AZ - Health
C
Bloomfield, CT - Health
Weiss Ratings