BCBSMIBlue Cross Blue Shield of Michigan
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Also, after the recently announced acquisition of M-Care Health Plans (Ann Arbor, MI), which is still subject to review by state and federal regulators, BCBSMI may face integration risks that are inherent with any acquisition.
The rating on TAF also reflects implicit support from BCBSMI.
TAF is a wholly owned subsidiary of BCBSMI (triple-'B'-plus financial strength rating) and is considered strategically important to it.