Columbia, S.C. – A.M. Best Co. recently affirmed the A+ financial strength rating of BlueCross BlueShield of South Carolina’s group of companies. The outlook for this rating is stable.
According to A.M. Best, an A+ financial strength rating is the highest it has assigned to any health insurer and only one other health insurer in the country holds it besides BlueCross.
“This rating reflects the financial stability of our total group of 47 companies,” said Mike Mizeur, BlueCross executive vice president and chief financial officer. “We work hard to achieve this high a rating every year and are proud that we’ve received an A+ for 11 years in a row. This means our customers can depend on us for stability, excellence and leadership.”
In the latest report received in January for 2012 performance, A.M. Best cited the diversification of the corporation as a group of companies as one of its strengths, especially in what A.M. Best called a challenging economic and regulatory climate and a highly competitive market.
“A.M. Best believes (BlueCross) is well positioned for its current rating for the near to medium term,” the rating agency said.
Founded in 1899 and headquartered in Oldwick, N.J., A.M. Best Company (www.ambest.com) is the world’s oldest and most authoritative insurance rating and information source.
A.M. Best annually rates BlueCross as a group of companies as well as rating some of its subsidiaries individually. BlueCross also undergoes a financial examination by the S.C. Department of Insurance, and it has audits conducted by outside companies.
Headquartered in Columbia, S.C., and operating in South Carolina for more than 65 years, BlueCross BlueShield of South Carolina is an independent licensee of the Blue Cross and Blue Shield Association. BlueCross BlueShield of South Carolina comprises more than 40 companies involved in health insurance services, U.S. DoD health program and Medicare contracts, other insurance and employee benefits services, and a philanthropic foundation that funds programs to improve health care and access to health care for South Carolinians. BlueChoice® HealthPlan of South Carolina (www.BlueChoiceSC.com) also is an independent licensee of the Blue Cross and Blue Shield Association.