Blue Cross of Idaho and WellPoint Health Networks announce joint venture.WOODLAND HILLS, Calif.--(BUSINESS WIRE)--May 15, 1997-- Will offer existing and future multistate mul·ti·state adj. Of, relating to, or involving several states: a multistate environmental campaign. Blue Cross customers access to quality, cost-effective provider networks and specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. products Blue Cross of Idaho and WellPoint Health Networks Inc. (NYSE NYSE See: New York Stock Exchange :WLP WLP WebLogic Portal (Bea Systems) WLP Wafer Level Packaging WLP Women's Learning Partnership (Bethesda, MD) WLP Workplace Learning & Performance WLP World Library Partnership, Inc. ) Thursday announced the creation of a joint venture designed to bring powerful national health-insurance resources to Idaho-based companies doing business in other states. The venture, named Idaho Benefits Administration, is designed to help Idaho's multistate corporations meet employee demands for user-friendly, cost-effective health-insurance programs with high-quality provider networks established in communities throughout the country. The new company will also ease the administrative burdens faced by multistate corporations by integrating multiple benefit and service designs into a single, national system for administration and customer service. Idaho Business Administration combines the forces of Blue Cross of Idaho, the state's largest health insurer; WellPoint Health Networks, one of the nation's largest publicly traded managed-care companies; and UNICARE Life & Health Insurance Co., a WellPoint subsidiary and major health-benefits provider operating on a national basis. ``The combined strengths of these companies will significantly enhance the services and health-care products available to Idaho-based national accounts and their employees,'' said David L. Barnett, president and chief executive officer of Blue Cross of Idaho. ``UNICARE's national health-care networks and the pricing available through its provider contracts will translate to lower costs for many of our multistate customers.'' In addition to the emphasis on national account businesses, the new arrangement will bring Blue Cross of Idaho opportunities to offer a wide variety of other specialized products and services, including an improved and expanded dental program. ``This joint venture also benefits UNICARE's customers with employees in Idaho,'' said Leonard D. Schaeffer, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of WellPoint. ``By aligning ourselves with Idaho's leading health insurer, we can bring the strength of the Blue Cross of Idaho network to employers in other states who have Idaho-based employees.'' Blue Cross of Idaho is Idaho's largest health insurer, providing traditional health-care benefit coverage and managed-care benefit arrangements to more than 300,000 Idahoans through the state's largest contracted provider network. Blue Cross managed-health-care programs cover more than 33,000 customers statewide through HMOBlue, Idaho's largest managed-care organization. Blue Cross of Idaho remains at the forefront in the development of community-based integrated delivery systems integrated delivery system Integrated provider Medical practice A coordinated health care system formed by physician groups and hospitals which ↑ efficiency and ↓ redundancy in providing health care; IDSs coordinate delivery of a broad range of health throughout the state. WellPoint Health Networks, one of the nation's largest publicly traded managed-care companies, serves the health-care needs of more than 5.9 million medical and more than 21 million specialty members nationally through two principal operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. : Blue Cross of California in California, and UNICARE throughout other parts of the country. Based in Woodland Hills, WellPoint offers a broad spectrum of quality network health plans provided through its health-maintenance organizations, preferred-provider organizations and specialty managed-care networks. Specialty products include pharmacy-benefit management; dental; vision; mental health; life and disability insurance; flexible spending accounts flexible spending account, n an employee reimbursement account primarily funded with employee-designated salary reductions. Funds are reimbursed to the employee for health care (medical and/or dental), dependent care, and/or legal expenses and are ; COBRA cobra, name for African and Asian snakes of the family Elapidae that are equipped with inflatable neck hoods. The family also includes the African mambas, the Asian kraits, the New World coral snakes and a large number of Australian snakes. administration; Medicare supplements; and 24-hour integrated, network-based workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. coverage. CONTACT: Blue Cross of Idaho Tracy Andrus, 208/345-4550 or WellPoint Health Networks Larry Bryant, 818/703-2473 |
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