Weiss Ratings Finds Health Insurers Weaker Than Ever Before

PALM BEACH GARDENS, Fla. - Aug. 22, 2016 - PRLog -- Weiss Ratings latest round of health insurer ratings saw the number of recommended insurers (those with a Weiss Safety Rating of B+ or higher), drop 46.9% since the third quarter of 2013, from 130 to just 69.

Weiss, the nation's leading independent provider of bank, credit union and insurance company safety ratings, based their ratings on an analysis of the first quarter 2016 results of 660 insurers providing health coverage. Of these, 23 health insurers were upgraded from last quarter, while nearly twice that amount, 44, were downgraded. Twenty-five percent of the health insurers rated received ratings of D or E, considered "weak" by Weiss.

"The ratings reflect the squeeze on health insurers following the signing of the Affordable Care Act in 2010," says Gavin Magor, senior financial analyst for Weiss Ratings.

Weiss Ratings recommends consumers do business with institutions rated B+ or better. Currently, only 69 health insurers, or 10.5 percent, are rated B+ or better, meriting inclusion on the Weiss Recommended List.

To search for a health insurer or to access safety and investment ratings, visit http://weissratings.com.

About Weiss Ratings: Weiss Ratings, Inc. is the nation's leading independent provider of ratings and analyses of financial institutions, mutual funds, and stocks. Weiss issues investment ratings on 39,000 stocks and mutual funds, and provides financial safety ratings on 16,000 banks, credit unions and insurance companies. Weiss Ratings is the only major rating agency that is 100% independent, receiving no direct or indirect compensation from the companies it rates for issuing its ratings.