AvMed Health Plan Receives Upgrade from Weiss Ratings; Second Strong Year of Earnings Bolsters Financial Stability Rating.MIAMI Miami, cities, United States Miami (mīăm`ē, –ə). 1 City (1990 pop. 358,548), seat of Dade co., SE Fla., on Biscayne Bay at the mouth of the Miami River; inc. 1896. -- AvMed Health Plans announced today that Weiss Ratings Inc. has upgraded its financial stability rating to B-, or "good." In making the ratings upgrade, Weiss noted that AvMed "offers good financial security and has the resources necessary to deal with a variety of adverse conditions. It comfortably exceeds the minimum levels for all of our rating criteria, and is likely to remain healthy for the near future." Over the past two years, AvMed has enjoyed steady upgrades of its ratings from Weiss. During that period, AvMed has successfully introduced new products and services to members, implemented a strategic growth plan and enhanced its financial strength. These long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. strategies have resulted in two consecutive years of strong net income for the company. "These most recent ratings reflect the success of our strategic initiatives," said Bob Hudson For the Australian singer, see . Robert Willard Hudson (born April 5, 1930 in Lamar, South Carolina) was an American football offensive lineman in the National Football League for the New York Giants, the Philadelphia Eagles, the Washington Redskins, and the Dallas Cowboys. , Chief Executive Officer of AvMed Health Plans. "We are gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. that Weiss has once again upgraded our rating after carefully reviewing the progress we are making at AvMed. We want agents and brokers to know that when they recommend AvMed to clients, they are choosing a health plan that is fundamentally strong, growing stronger, and reinvesting its earnings to benefit members." As Florida's largest not-for-profit health plan, AvMed is able to reinvest re·in·vest tr.v. re·in·vest·ed, re·in·vest·ing, re·in·vests To invest (capital or earnings) again, especially to invest (income from securities or funds) in additional shares. its net income to enhance services to members and create more value for employers and providers - rather than having to distribute earnings to shareholders, as a publicly-traded company would be required to do. Financial stability ratings are key benchmarks used by insurance agents and brokers to evaluate health plans on behalf of prospective members or employer groups employer group Association of employers Managed care An entity with a current group benefits agreement in effect with a health plan to provide covered health care services to its employee-subscribers and eligible dependents. . Weiss Ratings, based in Jupiter, Florida Jupiter is a town located in Palm Beach County, Florida. As of the 2000 census, the town had a total population of 39,328. As of 2006, the city had a population of 50,028 according to the University of Florida, Bureau of Economic and Business Research. , is nationally respected and is considered to be very conservative in issuing ratings on health plans. About AvMed Health Plans AvMed Health Plans is Florida's largest not-for-profit health plan, improving access to health care for members for more than 30 years, while serving Florida communities in all major metropolitan areas of the state. Through an extensive broker network, AvMed offers health care coverage on a fully insured and self-funded basis for employer groups in Florida. Additionally, AvMed offers health care products to Medicare beneficiaries in South Florida. AvMed has offices in Miami, Fort Lauderdale Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Palm Beach, Orlando, Tampa, Gainesville and Jacksonville. For more information, visit http://www.avmed.org |
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