Major Rating Factors:
Weak profitability index (0.9 on a scale of 0 to 10) with 255.0 million in losses in the last four years. Fair liquidity (4.2) as cash resources may not be adequate to cover a spike in claims. Good capitalization index (6.6) based on good current risk-adjusted capital (severe loss scenario). However, risk-adjusted capital has reached as low as the weak level during recent years.
Other Rating Factors:
Good quality investment portfolio (5.7) containing junk bond exposure equal to 51.5% of capital. Excellent overall results on stability tests (7.5) based on healthy premium and capital growth during 2023. Rating is significantly influenced by the weak financial results of Horizon Healthcare Services Inc.
Principal Lines of Business:
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Licensed in:
NJ
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
Horizon Healthcare Services Inc
Investment Rating
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Company Address
Three Penn Plaza, East
Newark, NJ 07105
Newark, NJ 07105
Phone Number
(973) 466-5607
NAIC Number
16714
Website
Largest Affiliates