AM Best Recognizes BlueCross BlueShield of South Carolina With A+ Rating December 18, 2019
Columbia, S.C.—BlueCross BlueShield of South Carolina achieved its 18th consecutive A+ rating from AM Best Company, a global organization that describes itself as the world’s most authoritative insurance rating and information source.
As part of its rating procedure, AM Best evaluates both financial and non-financial business risk, and annually rates BlueCross as a group of companies as well as individually rating some of its subsidiaries.
The comprehensive review of BlueCross’ core competencies, business profile and operating performance once again acknowledged brand strength and market presence as significant indicators of its favorable rating. The company continues as the only health insurer competing in all customer segments in the state, including serving as the only health insurer available on the federal exchange in all counties in South Carolina since 2016.
Moreover, the ratings agency considered the company’s technology capabilities, extensive provider networks and its ongoing investments in care management initiatives that reduce costs and improve care.
Among these efforts are the development of a health engagement strategy that features personalized, proactive communications, tools that support member efforts to manage personal well-being and programs that focus on behavioral health, emotional well-being and diabetes prevention.
According to David Pankau, president and chief executive officer of BlueCross BlueShield of South Carolina, the organization takes nothing for granted. He said, “While it is gratifying to receive year-over-year A+ recognition, we do not make any assumptions. It is a high bar of achievement and we work diligently to meet it. Each year is a new review coupled with even more refined analysis, and a new opportunity to ensure that we are on track with our strategic goals. This recognition is meaningful information to us, and our hope is that it also provides additional peace of mind to our customers regarding the strength and the stability of our organization.”
About BlueCross BlueShield of South Carolina Headquartered in Columbia, S.C., and operating in South Carolina for more than 70 years, BlueCross BlueShield of South Carolina is an independent licensee of the Blue Cross and Blue Shield Association. The only South Carolina-owned and operated health insurance carrier, BlueCross BlueShield of South Carolina comprises more than 20 companies involved in health insurance services, U.S. DoD health programs and Medicare contracts, other insurance and employee benefits services, and a philanthropic foundation that funds programs to improve health care and access to health care for South Carolinians.