D
HealthSpring of Florida Inc
Rating Date
June 2024
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 (0.8 on a scale of 0 to 10) with 37.0 million in losses in the last two years. Average return on equity over the last five years has been poor at -13.3%. Weak capitalization index (2.6) 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 quality investment portfolio (2.3).
Other Rating Factors: Weak overall results on stability tests (0.8) based on a significant -46% decrease in enrollment during the period, a steep decline in capital during 2022. Rating is significantly influenced by the strong financial results of The Cigna Group. Excellent liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
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
C
Bloomfield, CT - Health
B
Nashville, TN - Health
C
Phoenix, AZ - Health
Weiss Ratings