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Our accounting and finance team keeps a close eye on MedBen’s financial stability. The company currently generates over $36 million in annualized revenue, and holds $25 million in assets. Key to the company’s stability is management’s commitment to maintain a high level of claim reserves to protect policyholder interests. As of December 31, 2010 MedBen has a risk-based capital of 10.8 (over 2.5 shows financial strength), as measured by an actuarially-based formula determined by the National Association of Insurance Commissioners. In addition, we hold a surplus of $15.4 million (GAAP basis). Our self-funded business has an important place in the MedBen financial picture. MedBen Administrators has grown to over 80,000 members, with nearly $31 million of stop-loss premium written. Approximately half of our surplus is generated by MedBen Administrators and MedBen VisionPlus, our vision product subsidiary. |
