A.M. Best, the world’s oldest and most authoritative insurance rating and information source, reaffirmed an “A” (Excellent) Financial Strength Rating (FSR); and an “a” Issuer Credit Rating (ICR) for the Regence family of health insurance plans located in Oregon, Utah and Washington. A.M. Best also reaffirmed Regence’s “A-” (Excellent) Financial Strength Rating (FSR) and “a-” Issuer Credit Rating (ICR) for the health plan in Idaho. All state ratings included a “stable” outlook.
Factors cited by A.M. Best for the ratings include strong balance sheets across the health plans, consistent operating performance, comprehensive enterprise risk management, and confidence in the companies’ capital positions.
“Amidst the uncertainties and challenges of the pandemic, Regence continues to prioritize providing our members with access to high quality and affordable care, backed by a strong and stable health plan,” said Regence Chief Financial Officer Vince Price. “Consistently earning high A.M. Best ratings reinforces the importance of this commitment to achieving stability and financial stewardship in service to our members and communities.”
For the latest A.M. Best ratings, visit ambest.com.
Regence serves more than 3.4 million people through its Regence health plans in Idaho, Oregon, Utah and Washington. Each Regence health plan is a nonprofit 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 nationwide experience health care. For more information, please visit regence.com.