TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Credit rating agency upgrades UPMC Health Plan

Tuesday, Jan. 22, 2013, 10:58 a.m.
 

Insurance company rating agency A.M. Best Co. Inc. has upgraded UPMC Health Plan, citing its strong membership and premium growth over several years.

Oldwick, N.J.-based A.M. Best said that the health insurance arm of hospital-and-physician network UPMC earned a financial strength rating of “A-,” which it considers “excellent” and is up from “B++,” which it considers “good.”

UPMC Health Plan also received a credit rating upgrade to “a-,” up from “bbb+,” A.M. Best said.

UPMC Health Plan is the second-largest health insurer in Western Pennsylvania, with about 1.8 million members. Highmark Inc. is the largest, with about 2 million members. UPMC is the largest health system in Western Pennsylvania, with 19 hospitals and more than 3,400 physicians.

While A.M. Best cited the financial strength of UPMC as a positive for its health insurance arm, the rating agency also said that it is “somewhat concerned” about UPMC Health Plan's reliance on loans from UPMC to maintain its capital levels.

Add Alex Nixon to your Google+ circles.

 

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Customers anxious for details about Highmark transition plan for Western Pennsylvania
  2. EDMC reaches debt-restructuring deal with creditors
  3. Time Warner outage cuts Internet access for 11M subscribers
  4. 2 top technology officers leave UPMC
  5. S&P 500 holds steady at 2,000 level
  6. DQE Communication inks data deal with Iron Mountain
  7. Banks Gas Services finds success in jobs outside shale industry
  8. Economic indicator rises 0.9% in July
  9. PPG research helps vehicle, plane makers cut pounds from products
  10. Highmark denies premiums in federal insurance marketplaces affected by level of competition
  11. Hewlett-Packard recalls power cords
Subscribe today! Click here for our subscription offers.