Centene consolidating Medicare Advantage plan branding under Wellcare
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Key insurance provider Centene stated Thursday it will consolidate all of its Medicare Benefit brands below its wholly-owned subsidiary, Wellcare. Centene obtained Wellcare Health and fitness Strategies in January 2020 for about $seventeen billion.
Centene stated the go will far better align with the firm’s system and build more robust brand consciousness.
The insurer’s Medicare brands, which include Allwell, Health and fitness Internet, Fidelis Treatment, Trillium Benefit, Ohana Health and fitness Approach, and TexanPlus will turn into 1 unified Medicare brand below the Wellcare title.
What is THE Effect
Considering the fact that the acquisition, Wellcare’s Medicare footprint has developed, ensuing in a number of Medicare Benefit brands throughout 33 states. That was the most important impetus driving the MA brand consolidation system, which Centene senior video clip president and CEO of Medicare Prosperous Fisher stated would consequence in far better support for the firm’s 1.1 million MA customers nationally.
The “brand refresh,” as Centene calls it, also features a new, modernized emblem the corporation hopes will express a new sense of optimism and shopper friendliness. The tone and voice of the brand will also be additional clear-cut, the insurance provider stated, presenting an easier all round practical experience for customers.
Wellcare has presented a selection of Medicare items for additional than twenty decades, which include Medicare Benefit and Medicare Prescription Drug Strategies, which offer protection past unique Medicare.
Nowadays, the corporation presents gains these types of as dental, listening to and vision providers Flex playing cards to help with co-pays transportation providers telehealth visits wellness and conditioning programs in-residence aid providers and distinctive supplemental gains for the chronically unwell.
THE Greater Craze
When Centene initial obtained Wellcare, the mixture was expected to create about $500 million of annual web expense synergies by the second calendar year, and a press was created to deal with the social determinants of well being these types of as food insecurity, housing instability, homelessness, unemployment, lack of accessibility to transportation and other non-clinical obstacles to well being.
It is really not the only acquisition Centene has created in the latest decades. In January it agreed to invest in Magellan Health and fitness for $2.2 billion the firms stated the offer will allow far better well being results at decreased total clinical fees by means of built-in options, and create prospects to grow Centene’s specialty treatment company with enhanced providers, new item enhancement and further 3rd party relationships.
Not all of Centene’s subsidiaries have experienced a easy go of it. In March, Ohio Legal professional General Dave Yost submitted a lawsuit versus the insurance provider, alleging that corporation subsidiary Buckeye Health and fitness Approach used a web of subcontractors for the provision of pharmacy gains to misrepresent pharmacy fees, ensuing in hundreds of thousands of dollars of overpayments by the Ohio Division of Medicaid.
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