PITTSBURGH, Dec. 27, 2017 /PRNewswire/ -- UPMC Health Plan has retained its financial strength rating of A- (Excellent) with a stable outlook 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 Health Insurance Group, which is comprised of UPMC Health Plan (HMO products) and its affiliates, UPMC Health Network (PPO products), UPMC for You (Medicaid), UPMC Health Options (PPO products), UPMC Health Coverage (HMO products), and Community Care Behavioral Health Organization.
The health insurance group ratings are a reflection of what A.M. Best described as UPMC Health Plan's "integral" role as the managed care affiliate of UPMC, a "prominent integrated delivery system." A.M. Best also cited UPMC Health Plan's "sustained trend of premium growth."
A.M. Best's stable outlook is based on "favorable operating trends, adequate risk-adjusted capitalization and a sustainable business model."
UPMC Health Plan also received a rating of A- (Excellent) for the UPMC Workers' Compensation Group, often referred to as WorkPartners, which includes UPMC Health Benefits and UPMC Work Alliance.
A.M. Best recognized the Workers' Compensation products as being in the strongest category of risk-adjusted capitalization (99.6%, as measured by Best's Capital Adequacy Ratio) and also commented on the "important" role within the UPMC integrated delivery system, noting that "it is expected that this reputation will provide an advantage in the marketplace and facilitate growth."
A.M. Best is the most widely recognized provider of ratings, financial data, and news with an exclusive insurance industry focus. It issues ratings on more than 3,500 companies in more than 80 countries worldwide.
The latest ratings, including an overview of the rating process as well as ratings methodologies, can be found on A.M. Best's online ratings center at www.ambest.com/ratings.
About the UPMC Insurance Services Division
The UPMC Insurance Services Division is owned by UPMC (University of Pittsburgh Medical Center) a world-renowned health care provider and insurer based in Pittsburgh, Pa. The UPMC Insurance Services Division – which includes UPMC Health Plan, WorkPartners, UPMC for Life, UPMC for You, UPMC for Kids, and Community Care Behavioral Health — offers a full range of group health insurance, Medicare, Special Needs, CHIP, Medical Assistance, behavioral health, employee assistance and workers' compensation products and services to more than 3.2 million members. For more information, visit www.upmchealthplan.com.
SOURCE UPMC Health Plan