Ritter Insurance Marketing, Craig Ritter

CVS and Aetna Merger Officially Complete

CVS and Aetna’s $69 billion merger is now officially complete. The deal closed on Wednesday, November 28, 2018. Both Aetna and CVS were expecting to finalize the deal by Thanksgiving. However, several of the 28 states that needed to approve the merger had opposing views, saying integrating the two companies could potentially be…

26 Nov 18
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DOJ Grants Preliminary Approval on CVS-Aetna Merger

The Department of Justice granted preliminary approval for CVS and Aetna to move forward with their $69 billion merger, signaling a potential change in how many American consumers access health care. On September 27, Aetna announced their agreement to sell their Medicare Part D drug plan business to WellCare Health Plans to ease…

11 Oct 18
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CVS-Aetna & Cigna-Express Scripts Deals Likely to Get Approval

The Department of Justice (DOJ) is reportedly very close to approving the mergers between CVS and Aetna and Cigna and Express Scripts. Those familiar with the deals predict the DOJ’s formal antitrust approvals will come within the next several weeks. Update on the CVS-Aetna Merger Regulators reportedly have some concerns that the almost $70 billion deal between…

WellCare Acquires Care1st Arizona

Today, WellCare Health Plans completed their acquisition of Care1st Arizona, the Phoenix-based company comprised of subsidiaries Health Plan Arizona, Inc. and One Care by Care1st Health Plan of Arizona, Inc. The deal brings 115,000 Medicaid and Medicare members in Maricopa and Pima counties over to WellCare. “We are pleased to announce the completion of this…

4 Jan 17
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WellCare to Buy Universal American for $800 Million

Today, WellCare Health Plans announced their intentions to buy Universal American for $800 million, including the assumption of $200 million in Universal debt. The Tampa-based company will gain thousands of members through the acquisition of its smaller rival. The deal will add 65,000 members in Houston, Texas, and 14,000 members in the northeast, primarily in New York….

17 Nov 16
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WellCare to Expand Arizona Presence

Consolidation has been a major theme in the health insurance industry. And it looks like we could see more of it next year. Pending regulatory approvals, a new deal will allow WellCare to expand its business in Arizona. WellCare Health Plans Inc. recently announced that it plans to buy two subsidiaries of Care1st Health Plan, an affiliate of…

6 Oct 16
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WellCare to Acquire Munich RE US Medicare Health Insurance Operation

Here is a link to the story from NASDAQ.  Products included are the Sterling Life Medicare Supplement and the Windsor Medicare Advantage book of business.  Generally, these deals take 6 or more months to close, so don’t look for any changes this AEP.  

5 Sep 13
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Wellcare completes Acquisition of United Healthcare’s SC Medicaid Business

Here is the story for the Tampa Bay Business Journal.

5 Feb 13
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Wellcare Health Plans has settled their dispute around their Medicaid business in Florida and some other states.

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29 Jun 10
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WellCare Posts a loss in Q1 2009

Wellcare posted a $36.9 million loss for the first quarter of 2009.  The loss was due to higher Medical Expenses, one time charges and lower investment income. Last week Wellcare announced that they would be exiting the Private Fee for Service Medicare Advantage Marketing in 2010.  Although management doesn’t segment out PFFS versus Networked MA versus…

12 May 09
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