Contact (UPMC Health Plan):
Gina Pferdehirt
Director, Public Relations & Community Relations
UPMC Health Plan
412-454-4953
pferdehirtgm@upmc.edu
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Contact (UPMC Health Plan): Gina Pferdehirt |
PITTSBURGH (Mar. 3, 2016) – 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.
UPMC Health Plan also received a rating of A- (Excellent) for the UPMC Workers’ Compensation Group, often referred to as UPMC WorkPartners, which includes UPMC Health Benefits and UPMC Work Alliance.
The health insurance group ratings are a reflection of what A.M. Best described as UPMC Health Plan’s “strategic role” as the managed care affiliate of UPMC, a “strong integrated health care delivery system.” A.M. Best also cited UPMC Health Plan’s ““strong market share, membership and premium expansion.”
“The group continues to be recognized as a market-leading integrated health care delivery system responding to its growing market demands throughout western Pennsylvania and surrounding areas,” A.M. Best wrote.
The connection between UPMC Health Plan and UPMC was a major factor in the excellent rating. “This unique partnership allows for a more efficient cost structure, profitability and high quality care and service levels for members, as well as successful regional expansion of its well-diversified product offerings,” A.M. Best noted.
Regarding the Workers’ Compensation products, A.M. Best cited “a trend of positive operating and underwriting performance that outperforms peers, or enhancement of the group’s risk adjusted capitalization.”
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, and 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.
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About UPMC Health Plan
UPMC Health Plan, headquartered in Pittsburgh, Pa., is among the nation’s fastest-growing health plans. It is owned by UPMC, a world-renowned health care provider. As part of an integrated health care delivery system, UPMC Health Plan is committed to providing its members better health, more financial security, and the peace of mind they deserve. UPMC Health Plan partners with UPMC and community network providers to produce a combination of knowledge and expertise that provides the highest quality care at the most affordable price. The UPMC Insurance Services Division – which includes UPMC Health Plan, UPMC WorkPartners, LifeSolutions, UPMC for Life, UPMC for You, UPMC for Kids, Askesis, 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 over 2.8 million members. Our local provider network includes UPMC as well as community providers, totaling more than 125 hospitals and more than 11,500 physicians throughout Pennsylvania and parts of Ohio, West Virginia, and Maryland. For more information, visit www.upmchealthplan.com.
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 2.8 million members.