BCBSUBlue Cross Blue Shield of Utah
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The financial strength rating of A- (Excellent) has been affirmed for Regence BCBSU and its insurance entity, HealthWise.
The rating outlook for Regence BlueShield and Regence BCBSU and their entities is stable.
Keith Petersen, Medical Director for Regence BCBSU.
Regence BCBSU is a member of The Regence Group, an affiliation that also comprises Regence BlueShield in Washington State, Regence BlueShield of Idaho, and Regence BlueCross BlueShield of Oregon.
The most basic mix of network and benefits through BlueChoices will be priced at rates estimated 10 to 20 percent lower than the most popular plans Regence BCBSU offers now.
The level of earnings is expected to improve in the near term as Regence BCBSU prices above cost trend.
Regence BCBSU reported underwriting losses on a stand alone basis in 2008, which continued into first quarter 2009, with an underwriting loss of $12.
Best, "The excellent rating of Regence BCBSU reflects the company's role as one of the leading providers of health care insurance and administrative services in Utah, its strong market profile, adequate capitalization and improvement in operating performance, along with the support of the affiliated organizations that make up The Regence Group.
Regence BCBSU offers a variety of products including traditional coverage, PPOs and HMOs through an extensive list of provider network funding arrangements.
Regence BCBSU has long been recognized for its focus on the family, winning for four consecutive years the Work/Life award from the Utah State Department of Work Force Services, identifying Regence as one of the state's top 10 family-friendly companies.