Major Rating Factors:
Fair profitability index (3.6 on a scale of 0 to 10) with operating losses during 2019 and 2023. Fair overall results on stability tests (2.9) based on a significant -32% decrease in enrollment during the period, a steep decline in premium revenue in 2023 and a decline in the number of member physicians during 2023. Rating is significantly influenced by the acceptable financial results of CVS Health Corporation. Good quality investment portfolio (6.4) containing significant exposure to junk bonds.
Other Rating Factors:
Good liquidity (6.6) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Excellent capitalization (10.0) based on excellent current risk-adjusted capital (severe loss scenario) reflecting significant improvement over results in 2020.
Principal Lines of Business:
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Licensed in:
All states except NY
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
CVS Health Corporation
Investment Rating
Company Address
151 Farmington Avenue
Hartford, CT 06156
Hartford, CT 06156
Phone Number
(800) 872-3862
NAIC Number
78700
Website
Largest Affiliates