Aug 24 2015
UPMC WorkPartners has retained its financial strength rating of A- (Excellent) from A.M. Best, the world's oldest and most authoritative insurance rating and information source.
The A- (Excellent) rating, with a stable outlook, applies to UPMC Work Alliance, Inc. and UPMC Health Benefits, Inc. The two companies primarily offer fully insured workers' compensation products and are collectively referred to as UPMC Workers' Compensation Group.
"The rating actions reflect the group's adequate risk-adjusted capitalization and implicit and explicit support provided by its ultimate parent, UPMC, a nonprofit corporation headquartered in Pittsburgh and one of the leading integrated delivery and financial systems in the United States," A.M. Best said in announcing the ratings. The rating service also cited group's aggressive growth in workers' compensation since 2010.
"We are extremely pleased to receive the A-rating from A.M. Best," said Patrick Haughey, associate vice president for UPMC WorkPartners. "At UPMC WorkPartners, we strive to provide superior health and productivity solutions and services to our partner clients, while employing strict cost-containment methodologies and risk strategies. We are proud that our work was recognized by A.M. Best again this year."
SOURCE UPMC Health Plan