JUPITER, Florida (June 14, 2011) — Nine Blue Cross Blue Shield plans, Kaiser Foundation Health Plan and American Family Life Assurance Company of Columbus (AFLAC) are among the nation’s strongest health insurance companies, according to the latest quarterly review by Weiss Ratings, the nation’s leading independent provider of bank, credit union and insurance company ratings. Meanwhile, Pennsylvania Life Insurance Company and Heritage Provider Network Inc are among the largest health insurers considered weak based on December 31, 2010 data.
In reviewing 1,211 health insurers, Weiss found that 245, or 20%, are considered strong, meriting a Weiss Financial Strength Rating of B+ or higher. Meanwhile, 165, or 14%, of health insurers are considered weak, receiving a rating of D+ or lower. Weiss Ratings assigns a financial strength rating based on its statistical analysis of each insurer’s capitalization, investment safety, profitability, liquidity, stability and other factors.
Large health insurers receiving ratings of B+ or higher from Weiss include:
Large health insurance companies considered “Weak,” earning a Weiss Financial Strength Rating of D+ or lower, include:
To view Weiss Ratings’ free list of the strongest and weakest health insurers, visit www.weissratings.com/healthlists.
About Weiss Ratings
Weiss Ratings, the nation’s leading independent provider of bank, credit union and insurance company financial strength ratings and sovereign debt ratings, accepts no payments for its ratings from rated institutions. It also distributes independent investment ratings on the shares of thousands of publicly traded companies, mutual funds, closed-end funds and ETFs.
* Includes insurers filing Life, Property and Casualty, or Health statutory financial statements with the National Association of Insurance Commissioners if offering health insurance coverage.