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Fitch Takes Various Actions on Q-IFS Ratings of 185 U.S. Health Insurers

Posted on: Monday, 13 August 2007, 18:15 CDT

Fitch Ratings today has updated its Quantitative Insurer Financial Strength (Q-IFS) ratings for 185 U.S. health companies. At the same time, Fitch has assigned new Q-IFS ratings to 16 U.S. health insurers.

Of the 185 updated ratings, there are 27 upgrades, 16 downgrades, and 124 affirmations. Fitch notes that the number of upgrades relative to downgrades reflects the improvements in credit fundamentals experienced by the rated companies during the 2006 financial year. Also included in the rating changes are 2 revision ratings that are being made due to a model change and are unrelated to each companies' fundamentals.

At this time, Fitch is also withdrawing 49 previously existing Q-IFS ratings as these various health insurance companies no longer meet Fitch's criteria to be eligible to receive a Q-IFS rating.

Q-IFS ratings are generated solely on a statistical model utilizing the five most recent years of statutory financial statement information. The model incorporates "rating logic" that mirrors many aspects of the quantitative analysis that is used to assign traditional IFS ratings. While recognizing the limitations associated with using a strict quantitative rating approach, Fitch believes that IFS ratings do provide a reasonable representation of the company's stand-alone financial strength and operating profile.

For more information on Fitch's Q-IFS ratings, visit the Fitch Ratings web site www.fitchratings.com. A copy of the criteria report, 'The Updated U.S. Health Insurer Quantitative Insurer Financial Strength Ratings Methodology,' dated Aug. 10, 2006, is available under 'Insurance' and 'Criteria Reports'.

Fitch assigns the following Q-IFS ratings:

Entity/NAIC Code/New Rating

-- Abri Health Plan, Inc. (12007)/WI/'CCCq';

-- Arcadian Health Plan, Inc. (12151)/WA/'Bq';

-- Buckeye Community Health Plan, Inc. (11834)/OH/'BBq';

-- Essence, Inc. (11699)/MO/'CCCq';

-- Harvard Pilgrim Health Care of New England, Inc. (96717)/MA/'BBq';

-- Harvard Pilgrim Health Care, Inc. (96911)/MA/'Aq';

-- HPHC Insurance Company, Inc. (18975)/MA/'BBBq';

-- Medica Healthcare Plans, Inc. (12155)/FL/'CCCq';

-- Mercycare HMO, Inc. (12195)/WI/'Bq';

-- Molina Healthcare of Indiana, Inc. (12249)/IN/'Bq';

-- Network Health Insurance Corporation (11137)/WI/'Bq';

-- PSO Health Services, LLC (11494)/TX/'Bq';

-- Summerlin Life & Health Insurance Company (11838)/NV/'Bq';

-- THP Insurance Company (60016)/WV/'Bq';

-- Unison Family Health Plan of Pennsylvania, Inc. (12012)/PA/'BBBq';

-- University Health Alliance (47953)/HI/'Bq';

Fitch upgrades the following Q-IFS ratings:

Entity/NAIC Code/Upgrade

-- Alliance For Community Health, LLC (95609)/MO/'BBq' from 'Bq';

-- Alliant Health Plans, Inc. (11256)/GA/'BBBq' from 'BBq';

-- Amerigroup Florida, Inc. (95093)/FL/'BBq' from 'Bq';

-- Avera Health Plans, Inc. (95839)/SD/'BBq' from 'Bq';

-- ElderPlan, Inc. (95662)/NY/'Aq' from 'BBBq';

-- Group Health Cooperative of Eau Claire (95192)/WI/'BBq' from 'Bq';

-- HealthEase of Florida, Inc. (52631)/FL/'Aq' from 'BBq';

-- Healthspring of Alabama, Inc. (95781)/AL/'BBq' from 'Bq';

-- Independent Health Benefits Corporation (47034)/NY/'BBq' from 'Bq';

-- Leon Medical Centers Health Plans, Inc. (11532)/FL/'Bq' from 'CCCq';

-- M Plan, Inc. (95444)/IN/'BBBq' from 'BBq';

-- McKinley Life Insurance Company (77216)/OH/'BBBq' from 'BBq';

-- McLaren Health Plan, Inc. (95848)/MI/'BBBq' from 'BBq';

-- Mmm Healthcare, Inc. (11157)/NA/'Bq' from 'CCCq';

-- Mount Carmel Health Plan, Inc. (95655)/OH/'Aq' from 'BBBq';

-- Parkland Community Health Plan, Inc. (95414)/TX/'BBq' from 'Bq';

-- Preferred Care Partners, Inc. (11176)/FL/'BBq' from 'Bq';

-- Saint Mary's HealthFirst (95793)/NV/'BBq' from 'Bq';

-- Sanford Health Plan (95683)/SD/'BBq' from 'Bq';

-- SelectCare of Texas, L.L.C. (10096)/TX/'BBBq' from 'BBq';

-- South Dakota State Medical Holding Company, Inc. (96598)/SD/'BBq' from 'Bq';

-- Total Health Care, Inc. (95644)/MI/'BBq' from 'Bq';

-- Unison Health Plan of Pennsylvania, Inc. (95220)/PA/'Aq' from 'BBBq';

-- Vantage Health Plan, Inc. (95584)/LA/'BBq' from 'Bq';

-- Virginia Premier Health Plan, Inc. (95612)/VA/'BBBq' from 'BBq';

-- Viva Health, Inc. (95322)/AL/'BBq' from 'Bq';

-- WellCare of Florida, Inc. (95081)/FL/'BBBq' from 'BBq';

Fitch downgrades the following Q-IFS ratings:

Entity/NAIC Code/Downgrade

-- AvMed, Inc. (95263)/FL/'BBBq' from 'Aq';

-- Cariten Insurance Company (82740)/TN/'BBq' from 'BBBq';

-- Carolina Care Plan, Inc. (95732)/SC/'CCCq' from 'BBq';

-- CDPHP Universal Benefits, Inc. (47027)/NY/'CCCq' from 'Bq';

-- Columbia United Providers, Inc. (47047)/WA/'Bq' from 'BBq';

-- Community Choice Michigan (95562)/MI/'Bq' from 'BBq';

-- Community Health Plan (95145)/MO/'CCCq' from 'Bq';

-- Community Health Plan of Washington (47049)/WA/'BBBq' from 'Aq';

-- Driscoll Children's Health Plan (95809)/TX/'CCCq' from 'BBq';

-- Medica Health Plans (52626)/MN/'BBBq' from 'Aq';

-- Molina Healthcare of Utah, Inc. (95502)/UT/'CCCq' from 'Bq';

-- Network Health Plan (95737)/WI/'BBq' from 'BBBq';

-- PacificSource Health Plans (54976)/OR/'BBBq' from 'Aq';

-- PreferredOne Community Health Plan (95724)/MN/'BBq' from 'BBBq';

-- Tufts Insurance Company (60117)/MA/'Bq' from 'BBq';

-- Unity Health Plans Insurance Corporation (95796)/WI/'BBq' from 'BBBq';

Fitch affirms the following Q-IFS ratings:

Entity/NAIC Code/Affirmed Rating

-- Advantage Health Solutions, Inc. (52568)/IN/'Bq';

-- America's Health Choice Medical Plans, Inc. (11122)/FL/'Bq';

-- Amerigroup Maryland, Inc. (95832)/DC/'BBBq';

-- Amerigroup New Jersey, Inc. (95373)/NJ/'BBq';

-- Amerigroup Texas, Inc. (95314)/TX/'BBBq';

-- Athens Area Health Plan Select, Inc. (95691)/GA/'Bq';

-- Bluechoice Healthplan of South Carolina, Inc. (95741)/SC/'BBBq';

-- Bluegrass Family Health (95071)/KY/'BBBq';

-- Capital District Physicians' Health Plan, Inc. (95491)/NY/'BBBq';

-- Care Choices HMO (95452)/MI/'BBBq';

-- CareSource (95201)/OH/'BBBq';

-- Cariten Health Plan (95754)/TN/'BBq';

-- Central Oregon Independent Health Services, Inc. (47087)/OR/'BBBq';

-- Children's Mercy's Family Health Partners (95636)/MO/'Bq';

-- Colorado Access (95733)/CO/'Bq';

-- Community First Health Plans, Inc. (95248)/TX/'BBq';

-- Community Health Choice, Inc. (95615)/TX/'BBq';

-- CommunityCare HMO, Inc. (11691)/OK/'BBBq';

-- Cook Children's Health Plan (95822)/TX/'BBq';

-- Coordinated Care Corporation Indiana, Inc. (95831)/IN/'BBq';

-- DC Chartered Health Plan, Inc. (95748)/DC/'BBq';

-- Denver Health Medical Plan, Inc. (95750)/CO/'Bq';

-- Elder Health Mid-Atlantic, Inc. (10095)/MD/'Bq';

-- Elder Health Pennsylvania, Inc. (11524)/PA/'Bq';

-- Evergreen Health Plan, Inc. (95837)/GA/'Bq';

-- Fallon Community Health Plan Inc. (95541)/MA/'BBBq';

-- First Medical Health Plan, Inc. (95722)/NA/'Bq';

-- FirstCarolinaCare, Inc. (95592)/NC/'BBq';

-- Firstguard Health Plan, Inc. (95364)/MO/'Bq';

-- Firstguard Health Plan Kansas, Inc. (95620)/KS/'BBq';

-- Florida Health Care Plan, Inc. (95124)/FL/'BBBq';

-- GHI HMO Select, Inc. (95835)/NY/'Bq';

-- Grand Valley Health Plan, Inc. (95453)/MI/'Bq';

-- Group Health Cooperative of South Central Wisconsin (95311)/WI/'BBBq';

-- Group Health, Inc. (55239)/NY/'BBBq';

-- Harmony Health Plan of Illinois, Inc. (11229)/IL/'BBq';

-- Health Alliance Plan of Michigan (95844)/MI/'BBBq';

-- Health First Health Plans, Inc. (95019)/FL/'Bq';

-- Health New England, Inc. (95673)/MA/'BBq';

-- Health Partners of Philadelphia, Inc. (95066)/PA/'BBq';

-- Health Plan of Michigan, Inc. (52563)/MI/'BBBq';

-- Health Plus of Louisiana, Inc. (95009)/LA/'BBq';

-- Health Resources, Inc. (96687)/IN/'Bq';

-- Health Right, Inc. (95787)/DC/'Bq';

-- Health Tradition Health Plan (96628)/WI/'Bq';

-- HealthPartners Insurance Company (44547)/MN/'BBBq';

-- HealthPlus of Michigan, Inc. (95580)/MI/'BBBq';

-- Healthplus Partners, Inc. (11549)/MI/'Bq';

-- HMO Louisiana, Inc. (95643)/LA/'Aq';

-- Hometown Health Plan, Inc. (95350)/NV/'Bq';

-- Hometown Health Providers Insurance Company, Inc. (48305)/NV/'BBq';

-- Lovelace Health System, Inc. (95808)/NM/'Bq';

-- Magellan Behavioral Health of Pennsylvania, Inc. (47019)/PA/'BBq';

-- Managed Health Inc. (95284)/NY/'BBBq';

-- Managed Health Services Insurance Corporation (96822)/WI/'BBBq';

-- MCS Health Management Options, Inc. (95779)/NA/'BBBq';

-- MDNY Healthcare, Inc. (95476)/NY/'CCCq';

-- Medica Insurance Company (12459)/MN/'BBBq';

-- Medical Associates Health Plan, Inc. (52559)/IA/'BBq';

-- Medical Health Insuring Corporation of Ohio (95828)/OH/'BBBq';

-- Medical Mutual of Ohio (29076)/OH/'Aq';

-- Mercy Health Plans of Missouri, Inc. (95309)/MO/'BBBq';

-- Midwest Health Plan, Inc. (95814)/MI/'BBBq';

-- Molina Healthcare of Michigan, Inc. (52630)/MI/'BBBq';

-- Molina Healthcare of New Mexico (95739)/NM/'BBq';

-- Molina Healthcare of Washington, Inc. (96270)/WA/'Aq';

-- MVP Health Insurance Company (11125)/NY/'BBq';

-- MVP Health Plan, Inc. (95521)/NY/'BBBq';

-- Neighborhood Health Plan of Rhode Island (95402)/RI/'BBq';

-- Neighborhood Health Plan, Inc. (11109)/MA/'BBBq';

-- NevadaCare, Inc. (95244)/NV/'BBq';

-- New West Health Services (95829)/MT/'Bq';

-- Optima Health Insurance Company (70715)/VA/'BBq';

-- Optima Health Plan (95281)/VA/'Aq';

-- Paramount Care of Michigan (95566)/MI/'Bq';

-- Paramount Health Care (95189)/OH/'BBBq';

-- Physicians Health Plan of Mid-Michigan (95849)/MI/'BBBq';

-- Physicians Health Plan of Mid-Michigan - Familycare (11537)/MI/'Bq';

-- Physicians Health Plan of Northern Indiana, Inc. (95436)/IN/'BBBq';

-- Physicians Health Plan of South Michigan (52564)/MI/'BBq';

-- Physicians Health Plan of Southwest Michigan (52569)/MI/'BBq';

-- Physicians Plus Insurance Corporation (95341)/WI/'BBBq';

-- Piedmont Community Healthcare, Inc. (95811)/VA/'Bq';

-- Preferred Health (95746)/NA/'BBq';

-- Preferred Medical Plan, Inc. (95271)/FL/'Bq';

-- Preferred Plus of Kansas, Inc. (95390)/KS/'BBBq';

-- Priority Health (95561)/MI/'Aq';

-- Priority Health Government Programs, Inc. (11520)/MI/'Bq';

-- Public Health Trust of Dade County (95126)/FL/'BBq';

-- QCA Health Plan, Inc. (95448)/AR/'BBq';

-- Quality Health Plans, Inc. (11519)/FL/'CCCq';

-- Rochester Area Health Maintenance Organization, Inc. (11602)/NY/'Aq';

-- Rocky Mountain Health Maintenance Organization, Inc. (95482)/CO/'BBBq';

-- Rocky Mountain Healthcare Options Inc. (47004)/CO/'Bq';

-- Scott And White Health Plan (95099)/TX/'BBBq';

-- Security Health Plan of Wisconsin, Inc. (96881)/WI/'BBBq';

-- Select Health of South Carolina, Inc. (95458)/SC/'Bq';

-- SelectHealth, Inc. (95153)/UT/'BBBq';

-- SHA, L.L.C (95138)/TX/'BBq';

-- Summa Insurance Company, Inc. (10649)/OH/'BBq';

-- SummaCare, Inc. (95202)/OH/'BBBq';

-- Sun Health Medisun, Inc. (95982)/AZ/'Bq';

-- Superior HealthPlan, Inc. (95647)/TX/'BBq';

-- Texas Children's Health Plan, Inc. (95329)/TX/'BBBq';

-- Texas Healthspring, LLC (11593)/TX/'BBBq';

-- The Health Plan of The Upper Ohio Valley, Inc. (95677)/WV/'BBBq';

-- Total Health Choice, Inc. (95134)/FL/'Bq';

-- Tufts Associated Health Maintenance Organization, Inc. (95688)/MA/'Aq';

-- UCare Minnesota (52629)/MN/'Aq';

-- Union Health Service, Inc. (52553)/IL/'Bq';

-- Universal Health Care, Inc. (11574)/FL/'CCCq';

-- University Health Care, Inc. (52621)/KY/'BBBq';

-- University Health Plans, Inc. (95503)/NJ/'BBq';

-- Upper Peninsula Health Plan, Inc. (52615)/MI/'Bq';

-- UTMB Health Plans, Inc. (95764)/TX/'BBq';

-- Value Behavioral Health of Pennsylvania, Inc. (47025)/PA/'Bq';

-- ValueOptions of Texas, Inc. (95799)/TX/'Bq';

-- Vista Healthplan of South Florida, Inc. (95266)/FL/'CCCq';

-- Vista Healthplan, Inc. (95114)/FL/'CCCq';

-- Wellcare of Connecticut, Inc. (95310)/CT/'Bq';

-- WellCare of New York, Inc. (95534)/NY/'BBBq';

-- WellMark Health Plan of Iowa, Inc. (95531)/IA/'BBBq';

-- Winhealth Partners (95401)/WY/'BBq';

-- Wisconsin Physicians Service Insurance Corporation (53139)/WI/'BBBq';

Fitch revises the following Q-IFS ratings:

Entity/NAIC Code/Revision

-- AlohaCare (95853)/HI/'BBBq';

-- Independent Health (95308)/NY/'BBBq';

Fitch withdraws the following Q-IFS ratings:

Entity/NAIC Code/Prior Rating

-- Amerigroup Illinois, Inc. (95372)/IL/'Bq';

-- Amerihealth HMO Inc. (95044)/PA/'BBBq';

-- Atrium Health Plan Inc. (95451)/WI/'BBq';

-- Blue Care Network of Michigan (95610)/MI/'Aq';

-- Cape Health Plan Inc. (95759)/MI/'BBq';

-- CapitalCare, Inc. (11227)/VA/'Bq';

-- Carefirst Bluechoice Inc. (96202)/DC/'Aq';

-- CHA HMO Inc. (95158)/KY/'BBBq';

-- Cox Health Systems HMO, Inc. (95530)/MO/'Bq';

-- Educators Health Care (95515)/UT/'Bq';

-- Gateway Health Plan Inc. (96938)/PA/'BBq';

-- GHS Health Maintenance Organization Inc. (11814)/OK/'BBq';

-- Good Health HMO Inc. (95315)/MO/'BBBq';

-- Hawaii Management Alliance Association (48330)/HI/'BBq';

-- Health Alliance - Midwest, Inc. (95513)/IL/'BBq';

-- Healthguard of Lancaster, Inc. (95443)/PA/'Bq';

-- HealthLink HMO Inc. (96475)/MO/'BBBq';

-- HealthWise (95303)/UT/'BBBq';

-- Healthy Palm Beaches, Inc. (95827)/FL/'BBq';

-- Heart of America Health Plan (52554)/ND/'Bq';

-- HMO Minnesota (95649)/MN/'Aq';

-- HMO of Northeastern Pennsylvania (96601)/PA/'Aq';

-- HMO Partners Inc. (95442)/AR/'BBBq';

-- Hometown Insurance Group, Inc. (11224)/OH/'Bq';

-- Hometown Health Plan (95195)/OH/'Aq' from 'BBBq';

-- Horizon Healthcare of New Jersey, Inc. (95529)/NJ/'Aq';

-- Horizon Healthcare of New York, Inc. (95854)/NY/'Bq';

-- Keystone Health Plan Central Inc. (95199)/PA/'Aq';

-- Keystone Health Plan East Inc. (95056)/PA/'BBBq';

-- M-Caid (11557)/MI/'Bq';

-- MCARE, Inc. (95449)/MI/'BBBq';

-- Medical Association Clinic Health Plan of Wisconsin (95782)/WI/'Bq';

-- Missouri Care L.C. (95715)/MO/'Bq';

-- MNM 1997, Inc. (95247)/TX/'BBq';

-- Neighborhood Health Partnership, Inc (95123)/FL/'Bq';

-- Premier Health Inc DBA Premier Blue (95254)/KS/'BBBq';

-- Private Medical-Care of Arizona, Inc. (95366)/AZ/'BBq';

-- Qualchoice Health Plan, Inc. (10001)/OH/'BBq';

-- Regence Health Maintenance of Oregon, Inc (96250)/OR/'BBq';

-- Regence HMO Oregon (95699)/OR/'BBq';

-- Safeguard Health Plans, Inc., A Nevada Corporation (95747)/NV/'Bq';

-- Safeguard Health Plans, Inc., A Texas Corporation (95051)/TX/'BBq';

-- San Luis Valley HMO Inc. (95774)/CO/'BBq';

-- Seton Health Plan Inc. (95240)/TX/'BBq';

-- Sioux Valley Health Plan of Minnesota (95725)/MN/'BBq';

-- Southeastern Indiana Health Organization, Inc. (95812)/IN/'Bq';

-- Summit Insurance Company (66846)/OH/'Bq';

-- The Vermont Health Plan, LLC (95696)/VT/'BBBq';

-- Welborn Clinic (95538)/IN/'Bq';

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.

Source: Business Wire

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