A.M. Best Upgrades Humana Health Plan of Ohio to "A-" -Excellent- From "B++" -Very Good-.OLDWICK, N.J.--(BUSINESS WIRE)--Oct. 20, 1997--Effective immediately, A.M. Best Co. has upgraded Humana Humana Inc. (NYSE: HUM), founded in 1961 in Louisville, Kentucky, is a Fortune 500 company that markets and administers health benefit consumer services. With a customer base of over 11. Health Plan of Ohio to "A-" (Excellent) from "B++" (Very Good), and removed the company from under review. The upgrade follows the completion of Humana's acquisition of ChoiceCare Corp.-the largest 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, in Cincinnati-on Oct. 17, 1997. The upgrade reflects the fact that Humana's market presence and HMO membership leverage capabilities in Cincinnati Cincinnati (sĭnsənăt`ē, –năt`ə), city (1990 pop. 364,040), seat of Hamilton co., extreme SW Ohio, on the Ohio River opposite Newport and Covington, Ky.; inc. as a city 1819. will be significantly enhanced when combined with ChoiceCare's 245,000 members. Together, the HMOs will provide a strong platform for Humana's future growth in the state. ChoiceCare was acquired for approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. $250 million in cash. A.M. Best considers this to be a manageable sum, considering Humana's good financial position and consolidated con·sol·i·date v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates v.tr. 1. To unite into one system or whole; combine: earnings potential. A.M. Best Co., established in 1899, is America's oldest and most widely recognized insurance rating and information source. CONTACT: A.M. Best, Oldwick Jeffrey Dunsavage 908/439-2200, ext. 5618 dunsavj@ambest.com |
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