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Mutual of Omaha and Wellcare to Offer Co-Branded Medicare Advantage Plans for 2024 Plan Year
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Mutual of Omaha has formed a strategic alliance with Wellcare to offer jointly-designed Medicare Advantage plans for the 2024 plan year. These plans will be available in Georgia, Missouri, South Carolina, Washington state, and select areas of Texas. The plans include no premium and low premium options and will be offered during the Annual Enrollment Period from Oct. 15 to Dec. 7.
Positive
Mutual of Omaha, the nation's second-largest provider of Medicare Supplement plans, is expanding its offerings with the co-branded Medicare Advantage plans.
The partnership with Wellcare, a subsidiary of Centene Corporation, will provide innovative design features and sophisticated health management capabilities.
The Medicare Advantage plans will enhance consumer choice and offer peace of mind to beneficiaries.
Mutual of Omaha and Wellcare emphasize collaboration, accountability, and innovation to provide the best experience and value for customers.
Negative
None.
Co-Branded Products Will be Offered in Georgia, Missouri, South Carolina, Washington and Selects Areas of Texas
OMAHA, Neb.--(BUSINESS WIRE)--
Mutual of Omaha, a highly rated Fortune 400 organization offering a variety of insurance and financial products for individuals, businesses and groups throughout the United States, today announced it has formed a strategic alliance with Wellcare, the Medicare Advantage brand and wholly owned subsidiary of Centene Corporation (NYSE: CNC), to offer jointly-designed Medicare Advantage plans for the 2024 plan year. These plans will be offered in Georgia, Missouri, South Carolina and Washington state as well as in the Dallas/Fort Worth and Houston markets in Texas.
The Medicare Advantage plans, which include no premium and low premium options, will be available in select markets as part of this fall’s Annual Enrollment Period, which began Oct. 15 and runs through Dec. 7.
“These co-branded PPO-based plans will enhance consumer choice and offer peace of mind to Medicare beneficiaries through innovative design features backed by Mutual of Omaha’s trusted brand and Wellcare’s sophisticated health management capabilities,” said Mutual of Omaha Executive Vice President of Senior Solutions, Brad Buechler. “Mutual of Omaha and Wellcare have a wealth of experience meeting seniors’ health care needs and are a strong cultural fit. Together, we emphasize collaboration, accountability and innovation to drive the best experience and value for the customer.”
Mutual of Omaha is the nation’s second-largest provider of Medicare Supplement plans and remains committed to the Medicare Supplement market. Its senior health solutions portfolio also includes prescription drug (Part D), dental and vision coverages. Wellcare currently provides quality, affordable healthcare to more than 1.3 million Medicare Advantage members in 36 states and is the second largest prescription drug plan (PDP) in the nation covering 4.5 million lives across 50 states.
“Wellcare and Mutual of Omaha share a deep commitment to offering quality and affordable healthcare,” said Wellcare’s Senior Vice President and Medicare CEO, Rich Fisher. “The partnership provides an exciting opportunity for us to offer plans that meet the health care needs of Medicare beneficiaries. At Wellcare, we are always looking for ways to enhance the care experience for those we serve and believe this new offering does just that.”
About Mutual of Omaha
Founded in 1909, Mutual of Omaha is a highly rated, Fortune 400 organization offering a variety of insurance and financial products for individuals, businesses and groups throughout the United States. As a mutual company, Mutual of Omaha is owned by its policyholders and committed to providing outstanding service to its customers. For more information about Mutual of Omaha, visit www.mutualofomaha.com.
About Wellcare
For more than 20 years, Wellcare has offered a range of Medicare products, including Medicare Advantage and Medicare Prescription Drug Plans (PDP), which offer affordable coverage beyond Original Medicare. Today, the company offers benefits with every Medicare beneficiary in mind, such as dental, hearing and vision services; transportation services; telehealth visits; wellness and fitness programs; in-home support services; and special supplemental benefits for the chronically ill. Wellcare is a wholly owned subsidiary of Centene Corporation, a leading healthcare enterprise committed to transforming the health of the community, one person at a time. Beginning Jan. 1, 2022, Centene’s Medicare brands, including Allwell, Health Net, Fidelis Care, Trillium Advantage, ‘Ohana Health Plan, and TexanPlus transitioned to the Wellcare brand. For more information about Wellcare, visit www.wellcare.com.
Wellcare is the Medicare brand for Centene Corporation, an HMO, PPO, PFFS, PDP plan with a Medicare contract and is an approved Part D Sponsor. Our D-SNP plans have a contract with the state Medicaid program. “Wellcare” is issued by WellCare Health Insurance Company of Washington, Inc. Enrollment in our plans depends on contract renewal. [[Our plans use a formulary. “Wellcare” is issued by WellCare Prescription Insurance, Inc.]] [[Please contact your plan for details. Washington residents: “Wellcare” is issued by WellCare Health Insurance Company of Washington, Inc. Wellcare (HMO and HMO SNP) includes products that are underwritten by WellCare of Texas, Inc., WellCare National Health Insurance Company, and SelectCare of Texas, Inc. †Other [Pharmacies/Physicians/Providers] are available in our network.
