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Significant insurer Centene mentioned Thursday it will consolidate all of its Medicare Benefit brands underneath its wholly-owned subsidiary, Wellcare. Centene obtained Wellcare Well being Ideas in January 2020 for about $17 billion.
Centene mentioned the shift will greater align with the firm’s tactic and develop more robust brand name recognition.
The insurer’s Medicare brands, which include Allwell, Well being Net, Fidelis Care, Trillium Benefit, Ohana Well being Approach, and TexanPlus will become a single unified Medicare brand name underneath the Wellcare identify.
What’s THE Effects
Due to the fact the acquisition, Wellcare’s Medicare footprint has developed, ensuing in a number of Medicare Benefit brands throughout 33 states. That was the key impetus at the rear of the MA brand name consolidation tactic, which Centene senior movie president and CEO of Medicare Wealthy Fisher mentioned would end result in greater provider for the firm’s one.one million MA associates nationally.
The “brand name refresh,” as Centene calls it, also includes a new, modernized brand the organization hopes will express a new sense of optimism and shopper friendliness. The tone and voice of the brand name will also be more easy, the insurer mentioned, presenting an a lot easier general expertise for associates.
Wellcare has presented a variety of Medicare merchandise for more than 20 yrs, which include Medicare Benefit and Medicare Prescription Drug Ideas, which offer protection past first Medicare.
Right now, the organization provides added benefits this kind of as dental, listening to and eyesight services Flex cards to assist with co-pays transportation services telehealth visits wellness and health packages in-residence assistance services and particular supplemental added benefits for the chronically sick.
THE Larger sized Pattern
When Centene initial obtained Wellcare, the blend was envisioned to make about $five hundred million of yearly web value synergies by the 2nd 12 months, and a thrust was built to address the social determinants of overall health this kind of as foods insecurity, housing instability, homelessness, unemployment, deficiency of accessibility to transportation and other non-professional medical obstacles to overall health.
It can be not the only acquisition Centene has built in the latest yrs. In January it agreed to get Magellan Well being for $two.two billion the businesses mentioned the deal will empower greater overall health outcomes at reduced whole professional medical fees by using built-in solutions, and make opportunities to expand Centene’s specialty treatment business with improved services, new products improvement and supplemental 3rd celebration associations.
Not all of Centene’s subsidiaries have had a smooth go of it. In March, Ohio Lawyer General Dave Yost submitted a lawsuit in opposition to the insurer, alleging that organization subsidiary Buckeye Well being Approach used a world wide web of subcontractors for the provision of pharmacy added benefits to misrepresent pharmacy fees, ensuing in thousands and thousands of dollars of overpayments by the Ohio Department of Medicaid.
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