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.

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. Fifth Third Bank selling Pittsburgh branches to First National
  2. Alcoa putting $60M into Upper Burrell tech center expansion
  3. Pa. business interests decry EPA ozone proposal as economic albatross
  4. PPG’s new CEO to push organic growth with existing clients
  5. Just Mayo has egg industry in a panic, emails show
  6. Housing bright spot as Beige Book survey shows Pittsburgh region’s growth slight
  7. Consumer Financial Protection Bureau gives alternative to customer service frustrations
  8. Coal company, UMW settle suit over use of non-union workers
  9. ModCloth gets physical
  10. Shale gas violations down as DEP steps up inspections
  11. Macy’s prepares outlet stores