AM 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. AM 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.
Rating factors cited by AM Best include strong balance sheets across the health plans, favorable operating and net earnings over the last five years, premium growth, comprehensive enterprise risk management, and confidence in the companies’ capital positions.
“Providing members with access to high quality and affordable care, backed with the confidence of strong, stable health plans is one of our top priorities,” said Regence Chief Financial Officer Vince Price. “We’re pleased to consistently earn high AM Best ratings, reinforcing our commitment to achieving stability and financial stewardship in service to our members and communities.”
For the latest AM 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.