Major Rating Factors:
Weak profitability index (1.8 on a scale of 0 to 10) with 15.3 million in losses in the last two years. Weak overall capitalization (2.8) based on weak current risk-adjusted capital (severe loss scenario). Weak overall results on stability tests (0.7) based on a decline in the number of member physicians during 2022, a steep decline in premium revenue in 2022 and excellent risk-adjusted capital in prior years.
Other Rating Factors:
Weak liquidity (0.0) as a spike in claims may stretch capacity. Good quality investment portfolio (6.5) containing significant exposure to junk bonds.
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
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Fee For Service
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Contractual Pay
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Salary
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Bonus
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Other
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Member Physicians
Enrollment
Total Patient Encounters
Physician
Non-Physician
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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
55069
Website
Largest Affiliates