Archive for the ‘Wellpoint’ Category

Must admit that this one was confusing for me!  WellPoint is the parent company of Anthem.  Consumers, for the most part, are more familiar with the Anthem brand.  Pending shareholder approval, the company will be known as Anthem, Inc. to provide consumers with a single brand to recognize.

Here is the story from ABC News.

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Anthem added 8 hospitals associated with Indiana University effective 12/15/12 to improve their provider network in Indiana for their Medicare Advantage plans.

In New Hampshire, Anthem added Portsmouth Regional Hospital and Parkland Medical Center effective 1/1/13 to improve their Medicare Advantage plan’s networks there.

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Wellpoint CEO Resigns

Angela Braly, CEO of WellPoint, resigned last night due to pressure from shareholders.  Here is the story from Business Week.  WellPoint is the parent company of Anthem and operates Blue Cross and Blue Cross Blue Shield franchises in 14 states.

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Cigna has cleared the first hurdle in it’s acquisition of Medicare advantage provider, HealthSpring.  Here is a link to the story from CBS News.

The Cigna/HealthSpring deal was valued at $3.8 billion and was the largest in a series of acquisitions in the Medicare advantage market which have occurred in 2011.

Virtually all of the major carriers in the Medicare advantage market have completed sizable deals in 2011 including UnitedHealth, Humana, WellPoint and Cigna.  The only major player who is yet to make an acquisition is Aetna (but there are still a few weeks left in 2011!)  Earlier this year, however, Aetna did acquire a Medicare Supplement business from Genworth, so they seem to like to business.

Earlier this week, United announced the acquisition of XLHealth which further reduced the number of potential candidates.

I commented back in August that I felt the deals would continue and I still feel the same.

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Here is a link to an article with more details.  CareMore is a Medicare Advantage plan with membership in CA, AZ and NV.

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Ritter Insurance Marketing is committed to providing our agents with information about the insurance industry. Below are links to the lasted news in your state. (Must be logged into ritterim.zendesk.com/ to view forums)

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This past Thursday, Wellpoint announced a deal to acquire Medicare Advantage provider, Caremore.  Caremore operates in 3 states:  CA, NV and AZ.  Caremore has approximately 54,000 members.  The terms of the deal weren’t disclosed, however, it has been reported that Wellpoint will pay $800 million for Caremore.  The deal is expected to close before the end of this year.

For more details, see the Indy Star report on the story.

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