Contact:
Gina Pferdehirt
Director, Public Relations & Community Relations
UPMC Health Plan
412-454-4953
pferdehirtgm@upmc.edu
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Contact: Gina Pferdehirt |
WorkPartners’ (UPMC Workers’ Compensation Group) also earns A- (Excellent) Rating
PITTSBURGH (December 27, 2017) – 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, one of the products of 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 http://ratings.ambest.com/ratingeventdisclosures.aspx.
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About 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. As a provider-led organization that is part of an integrated health care delivery system, the UPMC Insurance Services Division is committed to providing its members better health, more financial security and the peace of mind they deserve. The UPMC Insurance Services Division 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, 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.