Our latest round of ratings indicates the number of recommended health insurers has gone down by 46.9 percent since Q3, 2013, when there were 130 health insurers rated B+ or higher. Now, in Q1, 2016, there are only 69.

However, the number of companies in the health industry went up to 660 insurers in Q1, 2016 from 590 in Q3, 2013. This shows that while the competition is increasing, their ratings as an industry are not as good as they used to be. Below you’ll see the health insurers’ ratings breakdown, where weakest rated institutions represent 25 percent of the entire industry as of Q1, 2016.

Weiss Ratings upgraded the safety ratings of 23 health insurers and downgraded 44 based on its analysis of first quarter 2016 results.

Weiss Ratings recommends consumers do business with institutions rated B+ or higher. Currently, only the 69 health insurers mentioned earlier (or just 10.5 percent), merit inclusion on the Weiss Recommended List.

Additionally, there were six health insurance company failures in 2016 so far. That is the most failures among the three insurance industries (Life, Health, and P&C).