PITTSBURGH, Aug. 21, 2015 /PRNewswire/ -- UPMC WorkPartners has retained its financial strength rating of A- (Excellent) from A.M. Best, the world's oldest and most authoritative insurance rating and information source.
The A- (Excellent) rating, with a stable outlook, applies to UPMC Work Alliance, Inc. and UPMC Health Benefits, Inc. The two companies primarily offer fully insured workers' compensation products and are collectively referred to as UPMC Workers' Compensation Group.
"The rating actions reflect the group's adequate risk-adjusted capitalization and implicit and explicit support provided by its ultimate parent, UPMC, a nonprofit corporation headquartered in Pittsburgh and one of the leading integrated delivery and financial systems in the United States," A.M. Best said in announcing the ratings. The rating service also cited group's aggressive growth in workers' compensation since 2010.
"We are extremely pleased to receive the A-rating from A.M. Best," said Patrick Haughey, associate vice president for UPMC WorkPartners. "At UPMC WorkPartners, we strive to provide superior health and productivity solutions and services to our partner clients, while employing strict cost-containment methodologies and risk strategies. We are proud that our work was recognized by A.M. Best again this year."
About UPMC WorkPartners
Part of UPMC's global health enterprise, UPMC WorkPartners provides health and productivity solutions to high-performing companies throughout the United States. Formed in 1997, WorkPartners has continued to expand services in an effort to help its clients strategically manage the health and well-being of their employees. UPMC WorkPartners believes that workplace health is linked to productivity and, ultimately, the bottom line. Its mission is to provide its clients with effective solutions to improve the health and productivity of their employees. Its suite of services includes workers' compensation, absence management, employee assistance programs, employer health services, health management and wellness, and consulting services. UPMC WorkPartners is part of the UPMC Insurance Services Division, which offers a full range of insurance programs and products to more than 2.7 million members.
SOURCE UPMC Health Plan