Development
B
Innovation Health Plan Inc
Rating Date
September 2023
NAIC
Classification
Health
Risk Adjusted
Capital Ratio #1
4.49
Risk Adjusted
Capital Ratio #2
3.74
Total
Assets
74.92M
Capital
31.60M
Health
Premiums
60.70M
Net
Income
-3.17M
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Weiss Ratings Innovation Health Plan Inc
Falls Church, VA 		Click to
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Rating B
Capitalization Index 10.00
Investment Safety Index 9.05
Liquidity Index 7.26
Profitability Index 5.92
Reserve Adequacy Index --
Stability Index 4.20
Company Info Innovation Health Plan Inc
Falls Church, VA 		Click to
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Industry Health
NAIC Number 15098
Phone Number (703) 914-2925
Website www.innovationhealth.com
Address 3190 Fairview Park Drive Falls Church, VA 22042
Balance Sheet Innovation Health Plan Inc
Falls Church, VA 		Click to
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Total Assets 59.30M
Capital and Reserves Innovation Health Plan Inc
Falls Church, VA 		Click to
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Risk-Adjusted Capital Ratio #1 6.17
Risk-Adjusted Capital Ratio #2 5.14
1-Year Reserve Development --
2-Year Reserve Development --
Capital 37.37M
Premium to Surplus --
Reserves to Surplus --
Investments Innovation Health Plan Inc
Falls Church, VA 		Click to
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Cash --
CMO & Structured Securities --
Common & Preferred Stock --
Invested Assets --
Investments in Affiliates --
Mortgages in Good Standing --
Non-Investment Grade Bonds --
Non-Performing Mortgages --
Other Investment Grade Bonds --
Other Investments --
Real Estate --
Operating Ratios Innovation Health Plan Inc
Falls Church, VA 		Click to
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Medical Loss Ratio 83.37%
Cash From Underwriting --
Combined Ratio --
Expense Ratio --
Loss Ratio --
Net Premium Growth --
Other Medical Innovation Health Plan Inc
Falls Church, VA 		Click to
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Bonus Pay 0.00
Capitation Pay 560.00
Contractual Pay 72.81K
Enrollment 8.78K
Fee For Service 2.54K
Medical Expense Per Member Per Month $1,032.00
Network Physicians 6.92K
Other Pay --
Salary Pay 0.00
Total Patient Encounters - Physician 235.51K
Total Patient Encounters-Non-Physician 195.57K
Profitability Innovation Health Plan Inc
Falls Church, VA 		Click to
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Net Income 3.10M
Net Premium 67.77M
Health Premium 67.77M