By Denise Pinkney
Having an insurance company that’s in good financial shape is important. You know your claims will be paid in a timely manner because the resources are there.
Noridian Mutual Insurance Company — which does business as BCBSND received an A-minus with a “stable” outlook rating from Standard & Poor’s (S&P*). It’s the fourth straight year that we’ve received this score.
S&P noted that our expense ratio of 8.2 percent is well below our peers’ average of 14.1 percent. And our medical loss ratio of 89.2 percent also beats the industry average of 87 percent. (Medical loss ratio measures the percentage of member premiums we use to pay your medical claims).
It’s important for us to be good stewards of our members’ premiums. We’re investing in programs and services that help us continue to cut costs and deliver affordable products to our members.
*S&P is an internationally recognized authority on the claims-paying ability of nearly all insurance companies.
Denise Pinkney is an editor in the Communications department at Blue Cross Blue Shield of North Dakota.