A.M. Best Assigns "q" Ratings To 13 HMOs.OLDWICK, N.J.--(BUSINESS WIRE)--Sept. 8, 1999-- A.M. Best Co. has assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. "qualified" ratings to 13 health maintenance organizations. The ratings--assigned to the HMOs of Foundation Health Systems Inc. and Altius Health Plans--are the third group of companies assigned "q" ratings since A.M. Best announced the expansion of its HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, rating coverage on Aug. 23. "Q" ratings are based on a comprehensive review of the statutory filings of the HMO plans, but--unlike A.M. Best's interactive ratings--do not have the benefit of in-depth in-depth adj. Detailed; thorough: an in-depth study. in-depth Adjective detailed or thorough: an in-depth analysis interaction with the rated companies. The "q" ratings were assigned to the following companies: -0- Health Net (Calif.) B+ q QualMed Plans for Health of Western Pa. B q QualMed Washington Health Plan, Inc B q M.D. Health Plan, Inc. (Conn.) B+ q Foundation Health, a Louisiana Health Plan, Inc C+ q QualMed Oregon Health Plan, Inc. B q Physician's Health Services of Connecticut B- q QualMed Plans for Health, Inc. (N.M.) B+ q QualMed Plans for Health of Colorado, Inc. B- q Foundation Health, a Florida Health Plan B- q Intergroup Prepaid Health Services of Arizona B+ q First Option Health Plan of N.J., Inc. B q Altius Health Plans (Utah) B- q A.M. Best began issuing qualified ratings in response to a growing number of requests by consultants, brokers, risk managers, employee-benefit managers and the public that A.M. Best increase its rating coverage of HMOs. These requests were driven largely by the rapid growth and changes occurring in the health-care market, combined with increasing national attention to the financial strength and stability of health-care organizations. Best's Qualified Ratings currently are being confined con·fine v. con·fined, con·fin·ing, con·fines v.tr. 1. To keep within bounds; restrict: Please confine your remarks to the issues at hand. See Synonyms at limit. of the HMO industry and will be assigned to HMOs that do not subscribe to Verb 1. subscribe to - receive or obtain regularly; "We take the Times every day" subscribe, take buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; A.M. Best's interactive rating process. The procedure used to assign a Best's Qualified Rating is based on the quantitative analysis Quantitative Analysis A security analysis that uses financial information derived from company annual reports and income statements to evaluate an investment decision. Notes: of the three key operating areas that comprise A.M. Best's traditional rating methodology: financial strength, operating performance and market profile. The procedure excludes, however, the qualitative qualitative /qual·i·ta·tive/ (kwahl´i-ta?tiv) pertaining to quality. Cf. quantitative. qualitative pertaining to observations of a categorical nature, e.g. breed, sex. portion of the interactive rating process, which includes the submission of supplemental financial information and interaction with management. Best's Qualified Ratings are intended to assess the varying degrees of financial strength of HMOs, ranging from Secure to Vulnerable and to identify plans that are potentially more susceptible susceptible /sus·cep·ti·ble/ (su-sep´ti-b'l) 1. readily affected or acted upon. 2. lacking immunity or resistance and thus at risk of infection. sus·cep·ti·ble adj. to financial instability instability /in·sta·bil·i·ty/ (-stah-bil´i-te) lack of steadiness or stability. detrusor instability . A.M. Best Co., established in 1899, is America's oldest and most widely recognized insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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