WellPoint Introduces First Medicare Medical Savings Account
Posted on: Tuesday, 31 October 2006, 15:01 CST
INDIANAPOLIS, Oct. 31 /PRNewswire-FirstCall/ -- WellPoint, Inc. , the nation's largest health benefits company, announced today that it will introduce an innovative new Medicare Medical Savings Account (MSA), marking the first time an MSA plan will be available in the Medicare market. Consumers can enroll in this industry-leading plan beginning November 15, 2006 in conjunction with the Medicare open enrollment period. MSA plans will initially be offered in a number of states across the country.
The Medicare MSA plan offering is part of WellPoint's new enterprise-wide initiative to make consumer-driven health plans available in all states and to all markets, from the largest employer to individual members.
The Medicare MSA plans include two components -- a High Deductible Medicare Advantage health plan that covers Medicare benefits and a tax- advantaged Medical Savings Account (MSA). An MSA is an independent bank account, owned by the member, in which deposits will be made for use by the member to pay for health care services. ACS/Mellon Bank will serve as the custodian of the WellPoint Medicare MSA plans.
"Medicare MSAs offer an important choice for Medicare beneficiaries in that they allow members to save for future healthcare needs and exercise direct control over how their health care dollars are spent," said Susan Rawlings, president, senior services for WellPoint. "WellPoint is committed to offering the diverse and growing senior population access to consumer directed health plans, thereby allowing our members more opportunities to choose the plans that best fit their needs and lifestyles."
Medicare beneficiaries who would like more information about the Medicare MSA plan may call the company's new enrollment unit in California at 888-211-9813 or elsewhere in the country at 888-949-5384. (TTY/TDD 800-297-1538). Hours of operations are 8 a.m. through 6 p.m. in all time zones.
About WellPoint, Inc.
WellPoint's mission is to improve the lives of the people it serves and the health of its communities. WellPoint, Inc. is the largest health benefits company in terms of commercial membership in the United States. Through its nationwide networks, the company delivers a number of leading health benefit solutions through a broad portfolio of integrated health care plans and related services, along with a wide range of specialty products such as life and disability insurance benefits, pharmacy benefit management, dental, vision, behavioral health benefit services, as well as long term care insurance and flexible spending accounts. Headquartered in Indianapolis, Indiana, WellPoint is an independent licensee of the Blue Cross and Blue Shield Association and serves its members as the Blue Cross licensee for California; the Blue Cross and Blue Shield licensee for Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri (excluding 30 counties in the Kansas City area), Nevada, New Hampshire, New York (as Blue Cross Blue Shield in 10 New York City metropolitan and surrounding counties and as Blue Cross or Blue Cross Blue Shield in selected upstate counties only), Ohio, Virginia (excluding the Northern Virginia suburbs of Washington, D.C.), Wisconsin; and through UniCare. Additional information about WellPoint is available at http://www.wellpoint.com/ .
WellPoint, Inc.
CONTACT: Media: Naomi Goldman, +1-310-552-4197, or Investor Relations:Wayne S. DeVeydt, +1-317-488-6390, both of WellPoint, Inc.
Web site: http://www.wellpoint.com/
Source: PRNewswire-FirstCall
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