Major Rating Factors:
Weak profitability index (2.5 on a scale of 0 to 10) with operating losses during 2019, 2020 and 2022. Weak overall results on stability tests (0.4) based on a significant -19% decrease in enrollment during the period, a decline in the number of member physicians during 2023 and a steep decline in capital during 2023. Rating is significantly influenced by the weak financial results of Pphp Holdco LLC. Weak liquidity (2.1) as a spike in claims may stretch capacity.
Other Rating Factors:
Excellent capitalization (7.1) based on excellent current risk-adjusted capital (severe loss scenario) reflecting significant improvement over results in 2020. Excellent quality investment portfolio (9.8) containing small junk bond exposure.
Principal Lines of Business:
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Licensed in:
IL, MD
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
Pphp Holdco LLC
Investment Rating
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Company Address
8820 Columbia 100 Parkway
Columbia, MD 21045
Columbia, MD 21045
Phone Number
(443) 275-9800
NAIC Number
15719
Website
Largest Affiliates