AM Best Places Credit Ratings of Oregon Dental Service and Moda Health Plan, Inc. Under Review With Positive Implications

Business Wire

OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has placed under review with positive implications the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Ratings of “bb” of Oregon Dental Service and Moda Health Plan, Inc. (Moda Health). Both companies are domiciled in Portland, OR.

The under review with positive implications status reflects the U.S. Supreme Court’s ruling with regard to the Affordable Care Act (ACA) Risk Corridors program. In April 2020, the U.S. Supreme Court ruled that the federal government is required to pay health insurers for the amounts owed under the ACA’s Risk Corridors program. Moda Health had been party to a lawsuit suing the federal government for damages. The ratings will remain under review with positive implications pending receipt of the risk corridors payment from the government.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.