C
AmeriHealth Ins Co of NJ
Rating Date
June 2024
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Total
Assets
Capital
Health
Premiums
Net
Income
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Major Rating Factors: Weak profitability index (2.6 on a scale of 0 to 10) with operating losses during 2020 and 2021. Return on equity has been fair, averaging 5.2% over the last five years. Good overall results on stability tests (5.1) based on steady enrollment growth, averaging 2% over the past five years. Rating is significantly influenced by the weak financial results of Independence Health Group Inc. Good liquidity (6.7) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors: Excellent overall capitalization (8.5) based on good current risk-adjusted capital (severe loss scenario) despite some fluctuation in capital levels. Excellent quality investment portfolio (8.0) containing small junk bond exposure.
Principal Lines of Business: --
Licensed in: NJ
Principal Enrollment Breakdown: --
Other Highlights
Medical Loss Ratio
Medical Expense
Per Member Per Month ($)
430
Provider Compensation ($000)
Capitation Pay
931
Fee For Service
Contractual Pay
Salary
0
Bonus
Other
--
Member Physicians
Enrollment
Total Patient Encounters
Physician
Non-Physician
Corporate Info
Group Affiliation
Independence Health Group Inc
Investment Rating
--
Company Address
259 Prospect Plains Road
Cranbury, NJ 08512
Phone Number
(609) 662-2400
NAIC Number
60061
Largest Affiliates
B
Philadelphia, PA - Health
B
Philadelphia, PA - Health
B
Philadelphia, PA - Health
B
North Charleston, SC - Health
C
Philadelphia, PA - Health
Weiss Ratings