AM Best Awards BlueCross BlueShield of South Carolina With 20th Consecutive A+ Rating
Jan. 5, 2022
AM Best Company, which describes itself as the world’s most authoritative insurance rating and information source, has awarded BlueCross BlueShield of South Carolina its A+ rating for the 20th consecutive year.
The ratings represent a thorough analysis of operating performance, business profile, risk management processes and balance sheet strength compared to other insurance companies in the U.S. and abroad. Additionally, AM Best factors in the importance of brand recognition and marketing. Its ratings are among the most important barometers of financial strength for insurance companies.
As the only South Carolina-owned and -operated health insurance carrier, BlueCross provides its members with extensive provider networks and a range of health insurance products and has done so for 75 years. BlueCross continues to be the only health insurer competing in all customer segments in the state. Likewise, BlueCross remains the only health insurer available on the federal exchange in all counties in South Carolina since 2016.
According to David Pankau, president and chief executive officer of BlueCross BlueShield of South Carolina, this annual rating is a noteworthy achievement for the company. He said, “The continued recognition by AM Best reflects our company’s commitment to innovative solutions, strategic planning, continuous improvement and operational excellence.”
“BlueCross continues to grow by fulfilling our mission to serve our customers well and to improve the communities we serve. The employees of BlueCross support that mission by providing uninterrupted service to our members and generous support to our communities regardless of the pandemic that lingers in our lives. The recognition by AM Best speaks to our organization’s stability and to the strong brand we convey.”
Headquartered in Columbia and operating in South Carolina for 75 years, BlueCross BlueShield of South Carolina is an independent licensee of the Blue Cross Blue Shield Association. BlueCross is made up of more than 20 companies involved in health insurance services, U.S. Department of Defense 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.