Major Rating Factors:
Weak quality investment portfolio (0.0 on a scale of 0 to 10) containing no exposure to mortgages, junk bonds, or unaffiliated stocks. Weak liquidity (2.7) as a spike in claims may stretch capacity. Fair profitability index (3.3) with operating losses during 2022. Return on equity has been fair, averaging 8.9% over the last five years.
Other Rating Factors:
Fair overall results on stability tests (4.3). Rating is significantly influenced by the weak financial results of Horizon Healthcare Services Inc. Excellent overall capitalization (10.0) based on excellent current risk-adjusted capital (severe loss scenario) despite some fluctuation in capital levels.
Principal Lines of Business:
--
Licensed in:
NJ
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
Bonus
Other
--
Member Physicians
Enrollment
Total Patient Encounters
Physician
Non-Physician
Corporate Info
Group Affiliation
Horizon Healthcare Services Inc
Investment Rating
--
Company Address
Three Penn Plaza, East
Newark, NJ 07105
Newark, NJ 07105
Phone Number
(973) 466-5607
NAIC Number
14690
Website
Largest Affiliates