Blue Cross Receives 15th Consecutive “A” Rating From Standard & Poor’s
February 15, 2012
BATON ROUGE – National rating service Standard & Poor’s (S&P) has reaffirmed its “A” rating for Blue Cross and Blue Shield of Louisiana for the 15th straight year. S&P cited Blue Cross’ strong competitive position in the Louisiana health insurance market, very strong capitalization and very strong liquidity backed by high-quality investments, and a stable return on revenue that reflects its solid market position and consistent execution by senior management.
“We are very pleased that a national rating service like Standard & Poor’s continues to recognize our company’s financial strength, stability and strategic planning, including our implementation of healthcare reform provisions,” said Peggy Scott, Blue Cross’ executive vice president, chief operating officer and chief financial officer.
Standard & Poor’s reported that Blue Cross’ rating profile “has been very stable through the ongoing economic stagnation and the initial implementation of healthcare reform.” Standard & Poor’s is the world’s foremost provider of benchmarks for measuring corporate financial health.
The 2011 Standard & Poor’s report states, “BCBSLA’s competitive strength is built upon its large market share, high brand awareness, broad provider networks with good discounts, local market expertise and service, and competitive product offerings, among other features.”
S&P noted that Blue Cross and its subsidiaries offer a full range of products to all major segments of the market, including individuals, small groups, middle market, large groups, federal employees and national accounts. The report adds: “[The company] also offers various products in the senior market segment (Medicare Part D and Medicare Supplemental) as well as in the employee benefits market segment (dental, life, and disability insurance).”
In addition, the report states, “The company’s operational management is effective in key areas such as medical management, provider contracting, information technology, marketing and sales, and customer service.”
For a copy of the 2011 Standard & Poor’s report in PDF format, please email Blue Cross Corporate Communications.
About Blue Cross and Blue Shield of Louisiana
Founded in New Orleans in 1934, Blue Cross and Blue Shield of Louisiana is the oldest and largest Louisiana-based health insurance company. Blue Cross is a private, fully taxed mutual company, owned by policyholders—not shareholders—and governed by a local Board of Directors. It is an independent licensee of the Blue Cross and Blue Shield Association.
The company provides group and individual health insurance plans, life and disability insurance, group voluntary products and administrative services to more than one out of every four Louisiana residents. With headquarters in Baton Rouge and eight district offices, Blue Cross and Blue Shield of Louisiana employs more than 1,900 Louisianians who are committed to improving the lives of its customers by providing them with health guidance and affordable access to quality care.
Learn more on the company’s website at www.bcbsla.com or on Facebook at www.facebook.com/bluecrossla. Follow Blue Cross on Twitter at www.twitter.com/BCBSLA and CEO Mike Reitz at www.twitter.com/MikeReitzCEO.
The Blue Cross and Blue Shield Association is a national federation of 36 independent, community-based and locally-operated Blue Cross and Blue Shield companies that collectively provide healthcare coverage for more than 105 million members – one-in-three Americans. For more information on the Blue Cross and Blue Shield Association and its member companies, please visit bcbs.com. We encourage you to connect with us on Facebook, check out our videos on YouTube, follow us on Twitter and check out The BCBS Blog, for up-to-date information about BCBSA.