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Yahoo
5 days ago
- Business
- Yahoo
AM Best Affirms Credit Ratings of GuideWell Mutual Holding Corporation and Its Operating Subsidiaries
OLDWICK, N.J., July 24, 2025--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "aa-" (Superior) of Blue Cross and Blue Shield of Florida, Inc. d/b/a Florida Blue, and its affiliates, Health Options, Inc., Capital Health Plan, Inc. (Tallahassee, FL) and Florida Health Care Plan, Inc. (Holly Hill, FL). These companies collectively are referred to as Blue Cross and Blue Shield of Florida Group. AM Best also has affirmed the FSR of A (Excellent) and the Long-Term ICR of "a" (Excellent) of Florida Combined Life Insurance Company, Inc. Concurrently, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of "a-" (Excellent) of Triple-S Vida, Inc. (San Juan, PR) (TSV). Lastly, AM Best has affirmed the Long-Term ICR of "a-" (Excellent) of GuideWell Mutual Holding Corporation (GuideWell). The outlook of these Credit Ratings (ratings) is stable. All aforementioned companies are domiciled in Jacksonville, FL, unless otherwise specified. The ratings of Blue Cross and Blue Shield of Florida Group reflect its balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM). The rating affirmations reflect Blue Cross and Blue Shield of Florida Group's material market share in Florida, supported by the strong brand name recognition, a diversified distribution and strong operating performance. The group's risk-adjusted capitalization is very strong, as measured by Best's Capital Adequacy Ratio (BCAR). The group continues to benefit from additional financial flexibility from GuideWell and GuideWell Group, Inc. (GGI). The organization maintains dedicated assets at GGI to support risk-adjusted capitalization as necessary. The group has maintained favorable overall liquidity and has access to additional sources of operating liquidity, including access to a revolving credit facility at GuideWell and available credit facilities at the Federal Home Loan Bank of Atlanta for Florida Blue and Health Options, Inc. The operating profitability ratios remained favorable through 2024. Over the most recent five-year period, the group's five-year return on equity averaged 18.0% and return on revenue was 3.2% in 2024. Total earnings declined in 2024 over the prior year end driven by an increase in medical utilization, partially offset by a prior-year restatement and final 2023 Affordable Care Act risk adjustment. Florida Blue reported favorable premium development in 2024 driven by increased membership that exceeded enrollment goals for the year. The ratings of Florida Combined Life Insurance Company, Inc., reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate ERM. The rating affirmations consider Florida Combined Life Insurance Company, Inc. maintaining its strongest level of risk-adjusted capitalization, as measured by BCAR. Despite dividend payments to its parent, the company reported year-over-year capital growth through 2024 and continues to generate favorable operating results. The company provides product diversification offering Blue Cross Blue Shield-branded dental, life, and disability insurance products, providing the organization with supplemental products. The ratings of TSV reflect its balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate ERM. The rating affirmations reflect TSV's very strong risk-adjusted capitalization, as measured by BCAR and improved operating results. TSV has reported a consistent trend of premium growth, and the company has remained profitable over the past five years. However, the company's operating earnings have fluctuated. Operating and net earnings improved significantly in 2024 with a decline in the loss ratio and increased net investment income. TSV benefits from the financial and operating support of its ultimate parent, GuideWell. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Jaime Quito Financial Analyst +1 908 882 2460 Bridget Maehr Director +1 908 882 2080 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318
Miami Herald
02-07-2025
- Health
- Miami Herald
Florida Blue, Broward Health hit standstill over costs. What it means for patients
Thousands of people who have health insurance through Florida Blue may find themselves paying a heftier bill the next time they seek care at Broward Health, one of three public hospital systems in South Florida and one of the largest in the country. As of July 1, Broward Health is no longer an in-network provider for Florida Blue, ending a decades-long agreement with one of the largest insurers in the state. Florida Blue made the announcement this week, stating that Broward Health 'has chosen to leave the Florida Blue network' after rate negotiations between the two organizations fell through. For Broward Health patients who have insurance through Florida Blue, that means they may need to find new doctors who are in the Florida Blue network to get cheaper — or covered — medical care. If not, they might find themselves paying a heftier bill for primary and specialty care at Broward Health, which is now an out-of-network provider for Florida Blue members. 'We are disappointed that Broward Health has chosen to leave our network of providers, and hope this is temporary,' Florida Blue said in a statement. 'Unfortunately, Broward Health's rate demands remain excessive and unsustainable, and would burden our community with much higher health care costs. We ask their senior leaders to return to the negotiating table and work with us in finding a reasonable solution that protects our members, preserves affordability, and works for everyone.' In a blog post for patients, Broward Health said that Florida Blue has 'historically undervalued the care our team members provide' and that its discussions with the health insurer were about 'fairness.' The public hospital system said it asked Florida Blue to reimburse its team at levels that are 'comparable' to what it reimburses other South Florida health care providers and the rates provided by other insurance companies for the same services. Florida Blue said it notified about 18,000 members in May about the situation, including patients who had received care at Broward Health in the last six months or who have a Broward Health primary care doctor. Broward Health, which mainly serves central and northern Broward County, is one of the 10 largest public health systems in the country, with five hospitals and more than 50 health centers and physician practices. It's one of two public hospital systems in Broward County, the other being Memorial Healthcare System, which mainly serves southern Broward. Who is affected? As of July 1, all Broward Health services, facilities, clinics and physicians will be impacted by the standstill between Broward Health and Florida Blue, which was previously known as Blue Cross Blue Shield. Patients affected by the stalled negotiations include those with 'commercial (employer-based), individual marketplace and Medicare Advantage' plans, according to Broward Health. The hospital system said Medicare Supplemental and Medigap plans would not be impacted. Florida Blue members can also still go to Broward Health for emergency care, as 'ER and emergency services are always covered at in-network cost share, even at out-of-network facilities,' according to Florida Blue. The health insurer said some patients may still be able to continue getting in-network care at Broward Health for a certain period of time under federal and state protections for continuity of care. This includes people who are pregnant or who are 'undergoing active treatment for serious and complex health conditions, or in post-operative care following surgery,' according to Florida Blue. Patients with questions can visit Florida Blue's website or call the number on the back of their member ID card for more info specific to their plan. This article will be updated.
Edinburgh Live
11-06-2025
- Health
- Edinburgh Live
Scottish man who collapsed in Florida 'may never walk again' as family make desperate plea
Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info A carpenter who collapsed in Florida faces the possibility of never walking again and being 'bedridden for life' unless he can return to Scotland. Gordon Milloy, originally from Kilmarnock, experienced heart and kidney failure which led to several strokes on Tuesday, March 4, confining him to the HCA Florida JFK Hospital as his family fights to get him back home for medical care. Although covered by health insurance policy with Florida Blue, who suggested placing him in a Skilled Nursing Facility (SNF), Gordon's brother Brian Milloy, 57, is pushing for an Acute Rehabilitation Facility (IRF), believing it offers better chances for rehabilitation. While SNFs are generally designated for patients not yet capable of handling intensive therapy, Gordon's family aims for IRF-based treatment, which is more comprehensive than an intermediate SNF option. Brian expressed frustration at the insurance company's stance: "The insurance company is denying him access to acute rehabilitation claiming he's not fit enough to complete it - despite doctors saying he's ready to be discharged.", reports the Daily Record. (Image: GoFundMe) He further highlighted the challenge in finding an appropriate SNF equipped with required dialysis services, given that Gordon requires it three times per week due to precarious liver function. Back in Scotland, Brian is confident that Gordon would have access to IRF: "In Scotland, Gordon will be offered IRF. We need to get him back home." Without urgent rehabilitation and specialist equipment, Brian warns that his brother may end up condemned to a life confined to bed: "Without acute rehab and specialised equipment, he'll likely remain bedridden for the rest of his life. He will basically have no life at all." (Image: Supplied) Brian discovered his brother Gordon in a dire state at his home in Florida early March, collapsed on the bathroom floor suffering from heart and kidney failure that led to multiple strokes. He explained: "Gordon was lying collapsed on the bathroom floor. He had heart and kidney failure which had caused multiple strokes. The doctors reckon his heart was only functioning at 20 per cent at one point." The family is now eager to bring Gordon back to Scotland for NHS treatment and the necessary care. (Image: Supplied) Brian elaborated: "For him to have any sort of life, he needs to be home in Scotland where he has access to the NHS. It is very doubtful that he'll ever be able to work again either. He won't be able to support himself financially in the US. "We need to get him back to Scotland where he'll receive dialysis, post-stroke care and acute rehabilitation. It would be better all round." Transporting Gordon via a US medical flight is estimated to cost around £300,000, while UK companies have quoted between £100,000 and £150,000. However, the family has secured an offer from a German company partnered with Lufthansa, AirAmbulance24, who can provide the service for just under £50,000, including a stretcher, medical team, and ground transport. In response, Brian has set up a GoFundMe page which has already garnered close to £21,000, as he seeks to gather the necessary funds. "I'm reaching out to anyone who can help get my brother Gordy back to Scotland for the proper care required to hopefully live a somewhat normal life again," he appealed. Join Edinburgh Live's Whatsapp Community here and get the latest news sent straight to your messages The family has expressed their desire to have him back home, saying: "We just want him home. He deserves a chance. He's a gentle giant who's been through hell." Those wishing to support the Milloy family's efforts to bring Gordon home can visit their GoFundMe page at Florida Blue was contacted for a statement but declined to comment on individual cases.
Daily Record
11-06-2025
- Health
- Daily Record
Scots man who collapsed in Florida may never walk again if family can't bring him home
Gordon Milloy suffered heart and kidney failure, which triggered multiple strokes. His brother Brian found him fighting for his life on his bathroom floor. A carpenter who collapsed on a bathroom floor in Florida may never walk again and be ' bedridden for life' if he doesn't get home to Scotland. Gordon Milloy, from Kilmarnock, now lives in Fort Lauderdale and suffered heart and kidney failure, which triggered multiple strokes on Tuesday, March 4. The 50-year-old is now stuck in the US in HCA Florida JFK Hospital as his family battle to bring him home to Scotland for treatment. He has a health insurance policy with the Florida Blue, who have offered to place Gordon in a Skilled Nursing Facility (SNF). However, his brother Brian Milloy, 57, believes that a Acute Rehabilitation Facility (IRF) will be more effective in getting him back on his feet. SNF is usually offered to patients who are too weak or unstable to tolerate intensive therapy and can act as an intermediate option before going forward with IRF. Brian said: 'The insurance company is denying him access to acute rehabilitation claiming he's not fit enough to complete it - despite doctors saying he's ready to be discharged. "They are offering Skilled Nursing. It is proving very difficult to find a SNF with dialysis on hand - which he currently requires three times per week as his liver function is still in the balance. "In Scotland, Gordon will be offered IRF. We need to get him back home. "Without acute rehab and specialised equipment, he'll likely remain bedridden for the rest of his life. He will basically have no life at all." His brother Brian also lives in Florida and found Gordon collapsed and clinging to life in his home in early March. He said: 'Gordon was lying collapsed on the bathroom floor. He had heart and kidney failure which had caused multiple strokes. The doctors reckon his heart was only functioning at 20% at one point.' Gordon's family now hope to get him back to Scotland where he can get access to NHS care and receive the treatment he needs. Brian added: "For him to have any sort of life, he needs to be home in Scotland where he has access to the NHS. It is very doubtful that he'll ever be able to work again either. He won't be able to support himself financially in the US. "We need to get him back to Scotland where he'll receive dialysis, post-stroke care and acute rehabilitation. It would be better all round." The cost to fly Gordon home through a US medical flights is believed to be around £300,000. Companies in the UK also quoted the family around £100,000 to £150,000. The family has now found a German firm partnered with Lufthansa, AirAmbulance24, who offered the flight, complete with a stretcher, medical team, and ground transport, for just under £50,000. Now, Brian has launched a GoFundMe, which has already raised over nearly £21,000, in a desperate bid to raise the funds. 'I'm reaching out to anyone who can help get my brother Gordy back to Scotland for the proper care required to hopefully live a somewhat normal life again,' he said. 'We just want him home. He deserves a chance. He's a gentle giant who's been through hell.' To support the Milloy family's fight to bring Gordon home, visit their GoFundMe page - Florida Blue were approached for comment but said they couldn't comment on individual cases. Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today. You'll receive daily updates on breaking news as well as the top headlines across Scotland. No one will be able to see who is signed up and no one can send messages except the Daily Record team. All you have to do is click here if you're on mobile, select 'Join Community' and you're in! If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'.
Associated Press
27-05-2025
- Business
- Associated Press
USABLE LIFE STRENGTHENS FOCUS ON GROWTH, APPOINTS RACHEL BECHTEL AS EVP OF CORPORATE STRATEGY AND DEVELOPMENT
LITTLE ROCK, Ark., May 27, 2025 /PRNewswire/ -- Life & Specialty Ventures (LSV) LLC, the holding company of USAble Life and its affiliates, today announced that Rachel Bechtel has joined the company to serve in the newly created position of Executive Vice President, Corporate Strategy and Development. Bechtel brings over 20 years of experience as a health and ancillary product development executive and leader to USAble Life, a leading provider of comprehensive ancillary insurance products. Bechtel is responsible for shaping and implementing USAble Life's critical growth strategies and initiatives, including identifying new partners and markets, enhancing USAble Life's brand, and unlocking new opportunities to expand the company's footprint in existing markets. Previously, Bechtel enjoyed a 25-year career with Florida Blue (an equity partner of LSV), where she excelled in several positions, including leadership roles in product development, operations, and service organization. Most recently, she was Senior Vice President of Strategy and New Market Solutions. While at Florida Blue, Bechtel served on LSV's board of directors. 'Rachel has an extensive record of driving business growth and shaping market strategies that deliver strong results,' said Rich Macy, USAble Life's President and Chief Executive Officer. 'We've worked closely with Rachel for more than a decade. She's been a valuable partner who has helped us develop the strategies that have contributed to USAble Life's continuing growth and success. She is an exceptional leader well suited to help guide our company to new heights.' 'I'm excited to join USAble Life and contribute to a company that's clearly focused on innovation, partnership, and long-term growth,' said Bechtel. 'There's strong momentum behind the strategy, and I'm looking forward to accelerating our impact and delivering meaningful value to our customers and partners.' Bechtel holds a Bachelor of Business Administration from Jacksonville University. About USAble Life Headquartered in Little Rock, Ark., USAble Life provides best-in-class ancillary insurance solutions (dental, supplemental, life, and disability products) that align and integrate with health plan offerings. Uniquely owned by a joint venture of independent Blue Cross® and Blue Shield® plans, USAble Life employs more than 600 people with additional offices in Jacksonville, Fla.; Portland, Ore.; and Honolulu, Hawaii. USAble Life products are licensed to sell in 49 states and the District of Columbia. USAble Life maintains an 'A' excellent rating from A.M. Best. Learn more at View original content to download multimedia: SOURCE USAble Life
