AM Best Affirms Credit Ratings of Humana Inc. and Its Health Insurance Subsidiaries
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AM Best has downgraded the Financial Strength Rating to C from C+ and the Long-Term Issuer Credit Ratings to“ ccc+” from“ b-” of Health Insurance Plan of Greater New York, EmblemHealth Insurance Company, EmblemHealth Plan, Inc. and ConnectiCare, Inc.. All companies are subsidiaries of EmblemHealth, Inc. and domiciled in New York, NY, unless otherwise specified.
U.S. health insurance companies’ focus on finding innovative ways to manage the cost of health care better while improving member health and enhancing engagement continues to drive the growth of vertical integration strategies, according to a AM Best report. In its Best’ s Special Report, titled,“ U.S. “Integration and partnerships among hospitals, physician...
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AM Best has affirmed the Financial Strength Rating of C and the Long-Term Issuer Credit Rating of“ ccc” of Friday Health Plans of Colorado, Inc.. The company reported net operating losses of $13.8 million due to increased medical loss and administrative ratios. The business profile is limited as the company is mainly concentrated in the individual exchange...