AmeriHealth Michigan Inc
Major Rating Factors:
Weak profitability index (1.9 on a scale of 0 to 10) with operating losses during 2019, 2020, 2021 and 2022. Excellent overall capitalization (8.8) based on excellent current risk-adjusted capital (severe loss scenario). Moreover, capital levels have been consistent in recent years. Excellent quality investment portfolio (9.9) containing little or no exposure to mortgages, junk bonds, or unaffiliated stocks.
Other Rating Factors:
Excellent overall results on stability tests (8.0) based on consistent premium and capital growth in the last five years but a decline in enrollment during 2023. Rating is significantly influenced by the strong financial results of Independence Health Group Inc. Excellent liquidity (7.4) with ample operational cash flow and liquid investments.
Principal Lines of Business:
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Licensed in:
MI
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
Independence Health Group Inc
Investment Rating
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Company Address
200 Stevens Drive
Philadelphia, PA 19113
Philadelphia, PA 19113
Phone Number
(215) 937-8000
NAIC Number
15104
Largest Affiliates