A.M. Best Co. has revised the outlook to stable from negative and affirmed the financial strength rating of B+ (Good) and issuer credit rating of “bbb-” of AvMed, Inc. (AvMed) ( Miami, FL ). The revised outlook reflects AvMed’s restoration of profitability and its much improved risk-adjusted capital level in 2012, as well as continued favorable operating and capitalization trends reported through late 2013, following a significant net loss and associated decline in capital several years ago. The prior loss resulted from a combination of several one-time, non-recurring items as well as elevated physician and pharmacy cost trends, a Medicare premium rate freeze from Centers for Medicare & Medicaid Services and the adverse effects of Florida’s recessionary economy on premium revenue growth. AvMed has since improved operating results and has materially higher risk-adjusted capital in 2012 and 2013. This was driven by a number of strategic actions taken as part of its corrective action plan, which include premium rate increases, revised benefit plan designs, changes in pricing strategies, Medicare revenue maximization initiatives, cost savings from changing disease management and pharmacy vendors, higher negotiated pharmacy discounts and provider and vendor contract rate reductions. Future positive rating actions may occur if AvMed improves its profitability, continues to build its risk-adjusted capital and grows premium revenue. Future negative rating actions could occur if operating results, risk-adjusted capital and/or premium revenue materially deteriorate or the company loses one or more of its largest employer group customers. The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides an explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. A.M. Best Company is an insurance rating and information source. More Information: http://www.ambest.com Best’s Credit Rating Methodology: http://www.ambest.com/ratings/methodology ((Comments on this story may be sent to email@example.com ))
Video: AvMed Medicare – Dwight Gym
AvMed Health Plans and Wax Custom Communications Receive Bronze at 2010 Mature Media Awards
PRLog (Press Release) – Aug. 16, 2010 – Miami, August 10, 2010– AvMed Health Plans received a bronze medal at the 2010 National Mature Media Awards, the nation’s largest awards program that annually recognizes the best marketing, communications, educational materials and programs for adults age 50 and older. AvMed’s Medicare Enrollment Kit won a bronze medal in the Brochure/Booklet category. The Medicare Enrollment Kit is an annual piece distributed before the Medicare enrollment period, aimed at educating consumers on AvMed’s Medicare plans and benefits and guiding them in their decision making process. “We’re proud that the work we create with AvMed has been honored at the National Mature Media Awards,” said Bill Wax, president and founder of Wax Custom Communications. “These awards recognize the uniqueness of our work with each of our clients and the quality team we have here at Wax.” About Wax Custom Communications:
AvMed Health Plans to Offer Healthways SilverSneakers® Fitness Program Through 2014
Healthways (HWAY) is the largest independent global provider of well-being improvement solutions. Dedicated to creating a healthier world one person at a time, the Company uses the science of behavior change to produce and measure positive change in well-being for our customers, which include employers, integrated health systems, hospitals, physicians, health plans, communities and government entities. We provide highly specific and personalized support for each individual and their team of experts to optimize each participant’s health and productivity and to reduce health-related costs. Results are achieved by addressing longitudinal health risks and care needs of everyone in a given population. The Company has scaled its proprietary technology infrastructure and delivery capabilities developed over 30 years and now serves approximately 40 million people on four continents. Learn more at www.healthways.com or www.silversneakers.com.
In Miami, Medicare Comes With White
Leon will be the only five-star plan in South Florida next year, but it is not the largest player in the region’s Medicare Advantage industry. That distinction belongs to the Kentucky-based health insurance giant, Humana Inc., which sells plans under the Humana Gold and CarePlus brands, and owns and operates 19 CAC-Florida Medical Centers, with the majority in Miami-Dade. CarePlus and Humana plans, both rated at 4½ stars, have the highest enrollment rates in South Florida, according to CMS. Care Plus plans have 13,000 members in Broward and 27,000 in Miami-Dade; Humana plans have 52,000 members in Broward and 39,000 in Miami-Dade.
What Impact Does Medicare Have On Health Insurance?
Many insurance types can be considered a primary insurance depending on the situation. If you are in a car accident, and your insurance or the other person’s insurance covers any medical expenses, those would be considered a primary insurance. Similarly, if you have home owner’s, or renter’s insurance, and they cover a qualified medical expense, then they would be considered the primary insurance. This also includes coverage such as prescription coverage, and other forms of supplementary coverage.