TribLIVE

| Business


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

Credit rating agency upgrades UPMC Health Plan

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

Daily Photo Galleries

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.

Subscribe today! Click here for our subscription offers.

 

 

 


Show commenting policy

Most-Read Business Headlines

  1. McDonald’s localizes menus to battle growing competition
  2. Airlines offer small conveniences to counter higher fees, less space
  3. Longer, roomier, ritzier Sedona upgrades minivan to 1st-class
  4. Consider these factors before opting for longer-term auto loan
  5. Aetna to buy rival Humana for $35B
  6. Drillers to submit electronic records on fracking chemicals to Pa. DEP
  7. Air control stickiness a real puzzler
  8. National Day Calendar lends legitimacy to pseudo-holidays
  9. Insurer Aetna to buy Humana in $35B deal
  10. Halliburton to close Indiana County office
  11. U.S. employers add 223K jobs, jobless rate falls to 5.3%