Weiss Ratings Guide to Health Insurers
Weiss Ratings Guide to Health Insurers rates the financial stability of the nation’s health care system, with financial strength ratings of more than 1,600 health insurance providers, including Medicare supplement and long-term care insurers, health maintenance organizations (HMOs) and all of the Blue Cross/Blue Shield plans.
The Spring 2024 edition of this guide is divided into eight sections, preceded by an Introduction and followed by a thorough Appendix. Weiss Ratings’ complete letter-grade rubric is detailed on the inside front cover—an easily accessible reference for users researching companies in this guide.
The Introduction welcomes the user, lays out Weiss Ratings’ Mission Statement, and presents a “How To Use This Guide” orientation to the book. The Financial Strength Ratings used in the book are carefully explained, followed by a page of important warnings and cautions for the user to take into account when evaluating health insurance providers.
- Section I contains an alphabetical Index of Companies, listing health insurance companies operating within the U.S. (rated and unrated). Listings are made up of ten components, including Company Name, Domiciled (Regulated) State, Financial Strength Rating, Most Recent Rating Date, Total Assets (in millions), Total Premiums (in millions), and Risk-Adjusted Capital Ratios, among others.
- Section II, Analysis of Largest Companies, features summary analyses of all Weiss-rated U.S. health plans, Blue Cross Blue Shield plans, and any other U.S. insurers with capital in excess of $25 million and health insurance premiums equaling at least 25% of the total premiums. These summaries consist of several key components: Financial Strength Rating, Major Rating Factors, Number of Member Physicians, Enrollment, and Principal Investments. Complete contact information is also listed, and detailed graphs and charts are provided to help users fully understand all data.
- Sections III and IV both focus on Recommended Companies, or U.S. health insurers that have been awarded a Financial Strength Rating between A+ and B+. Section III lists companies alphabetically and provides complete contact information and ratings, while Section IV organizes companies by state and discloses Total Assets.
- Section V contains a list of rated companies providing Long-Term Care Insurance. Listings in this section include Financial Strength Rating, legal name of the insurance company, and complete contact information.
- Section VI is divided into four parts. Part I addresses questions consumers may have about Medicare Supplement Insurance, including “What does Medicare cover?” and “Medicare, Medicare Advantage, Part D Sponsors, Medigap—What does it all mean?” Part II outlines steps to follow when selecting a Medigap policy. Part III contains tables illustrating the typical annual premiums charged for Plan A through Plan L. Finally, Part IV contains an Index of Medigap Insurers, listed alphabetically by name with complete contact information.
- Section VII, Rating Upgrades and Downgrades, features a list of all U.S. health insurers whose ratings have been upgraded or downgraded during the current quarter. Listings include Contact Information, Total Assets, New or Current Financial Strength Rating, Previous Financial Strength Rating, and Date of Change.
Finally, Weiss Ratings’ Guide to Health Insurers ends with an Appendix containing six sections: Risk-Adjusted Capital, Long-Term Care Insurance Planner, Medicare Prescription Drug Planner, Recent Industry Failures, State Insurance Commissioners, and a Glossary full of helpful industry words and phrases.
The financial strength of an insurer is an important factor to consider when making the decision to purchase a policy or change companies. Using these independent, unbiased ratings, users can be sure they are working with a company they can trust. This resource is a must for insurance brokers, and will be a well-used addition to the reference collection of all public libraries.
