National rating service Standard & Poor’s has given Blue Cross and Blue Shield of Louisiana its 10th consecutive “A” rating for financial strength, citing the company’s strong capitalization and strong consolidated operating performance.
“Our members look to Blue Cross and Blue Shield of Louisiana for financial strength and stability, as well as affordable health insurance,” said President and Chief Executive Officer Gery J. Barry. “This is particularly important to our current and future customers during this period of financial uncertainty for the healthcare sector in Louisiana.”
The company currently serves more than 1 million members, having gained approximately 65,000 members in 2006.
The Standard & Poor’s report noted the following highlights:
- Strong operating performance: “BCBSLA’s operating performance improved in 2005 because of strong premium growth and an actual reduction in operational expenses.”
- Strong competitive position: “BCBSLA holds a leading market position throughout Louisiana.”
- Strong capitalization: “The strong operating performance in 2005 further improved the company’s risk-adjusted capitalization.”
Blue Cross and Blue Shield of Louisiana is Louisiana-owned and -operated. Marking its 73rd anniversary this year, the company is an independent licensee of the Blue Cross and Blue Shield Association. It is a tax-paying mutual company, owned by its policyholders.
Headquartered in Baton Rouge, Blue Cross and Blue Shield of Louisiana also has district offices in Alexandria, Houma, Lafayette, Lake Charles, Monroe, New Orleans and Shreveport. The company’s subsidiaries include HMO Louisiana, Inc. and Southern National Life Insurance Company, Inc.
