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A.M. Best Recognizes BlueCross BlueShield of South Carolina With A+ Rating

January 03, 2019

A sustained multi-year track record of extraordinary accomplishment is notable in any business, but now BlueCross BlueShield of South Carolina is in even more select company as it has been awarded its 17th consecutive A+ rating from A.M. Best Company. That global organization annually reviews and ranks 3,500 companies in 90 countries, and describes itself as the world’s oldest and most authoritative insurance rating and information source. 

As part of its rating procedure A.M. Best evaluates both financial and non-financial business risk. The agency noted the insurer’s strong business profile and brand recognition, together with its broad suite of products, dynamic multiple channel distribution platform and extensive claims-handling technology. BlueCross’ status as the only health insurer competing in all customer segments in the state together with its role as the only health insurer available on the federal exchange in all counties in South Carolina since 2016 were also seen as favorable.

Moreover, it acknowledged investments in BlueCross' care management initiatives designed to improve care and reduce costs. Those initiatives include value-based payment programs for providers, disease management programs, which include case management and condition-specific education and coaching programs, 24/7 telemedicine service, wellness programs and more. 

According to David Pankau, president and chief executive officer of BlueCross BlueShield of South Carolina, the rating agency’s recognition is a point of pride and affirmation that the organization’s priorities are well placed. He said, “We want our members to associate security and stability with our brand. A.M. Best’s rating analysis and commentary confirms the thoughtfulness of our strategy, the strength of our leadership team and our focus on successful implementation. Ideally, that translates into demonstrable commitment to all our customers.” 

A.M. Best annually rates BlueCross as a group of companies as well as individually rating some of its subsidiaries. In addition, BlueCross undergoes a financial examination by the S.C. Department of Insurance and has audits conducted by outside companies.

Headquartered in Columbia and operating in South Carolina for 72 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 program 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. BlueChoice® HealthPlan of South Carolina also is an independent licensee of the Blue Cross and Blue Shield Association.

Contact: Patti Embry-Tautenhan 803.264.5452

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