BOISE, Idaho – A.M. Best, the world’s oldest and most authoritative insurance rating and information source, has released 2019 results for Regence BlueShield of Idaho. The health insurer was assigned an “A-” (Excellent) Financial Strength Rating (FSR) and an “a-” Long-Term Issuer Credit Rating (ICR) both with a stable outlook.
A number of factors were cited in the rating, including a unified business strategy, multiple years of strong financial results, consistent operating performance, enrollment growth, a favorable administrative expense ratio, appropriate enterprise risk management, and confidence in the company’s capital position.
“For more than 70 years, Regence has proudly served Idaho as a local, tax-paying non-profit company working to improve health care for people and their families,” said Sean Robbins, president of Regence BlueShield of Idaho. “Our strong financial position allows us to continue to make deep investments in communities throughout our state that help Idaho’s growth and quality of life.”
Founded in 1946 in north-central Idaho, Regence employs more than 600 people in Boise, Lewiston, Pocatello and Coeur d’Alene, driving more than $68 million in economic activity throughout the state every year, according to ECONorthwest. Additionally, Regence and its Idaho employees contributed more than $750,000 to benefit 272 different nonprofit organizations in 2018.
“Nothing is more important to us than providing our members with access to high quality and affordable care, backed with the confidence of a strong and stable health plan,” said Regence Chief Financial Officer Vince Price. “These third-party ratings reinforce our commitment to achieving stability and financial stewardship in service to our members.”
For the latest A.M. Best ratings, please access www.ambest.com.
About Regence BlueShield of Idaho
Regence BlueShield of Idaho, based in Lewiston, has been serving Idahoans for 73 years and now provides nearly 162,000 members with comprehensive health insurance solutions. As a nonprofit mutual insurance company and independent licensee of the Blue Cross and Blue Shield Association, Regence is part of a family of companies dedicated to transforming health care by delivering innovative products and services that change the way consumers in Idaho and nationwide experience health care. For more information, please visit regence.com, facebook.com/regenceblueshieldofidaho or twitter.com/regenceidaho.