Insurance ratings provider A.M. Best said it has affirmed its financial strength and issuer credit ratings for Farmington health insurer ConnectiCare Inc.
It also issued ratings for ConnectiCare’s fellow EmblemHealth subsidiaries.
ConnectiCare’s financial strength and issuer credit ratings remain ‘B+’ and ‘bbb-,’ respectively. Its outlook is stable.
The ratings agency considers B+ to be on the lower end of “secure” and bbb- to be on the lower end of “investment grade.”
A.M. Best affirmed identical ratings for EmblemHealth subsidiaries Health Insurance Plan of Greater New York — which acquired ConnectiCare in 2005 before adopting the EmblemHealth name — and HIP Insurance Co. of New York.
Meanwhile, A.M. Best upgraded the financial strength and issuer credit ratings of subsidiary Group Health Inc. from C+ to B+ and b- to bbb-, respectively.
