Coventry Receives CMS Approval to Resume Marketing of Medicare Advantage Private Fee-for-Service Plans.BETHESDA, Md. -- Second graph, second sentence should read: CMS (1) See content management system and color management system. (2) (Conversational Monitor System) Software that provides interactive communications for IBM's VM operating system. to gain approval for the implementation of the new CMS 2008 (sted CMS to gain approval for the early implementation of the new CMS 2008). Fourth graph, second sentence should read: Coventry Health Care Coventry Health Care, Inc. (Coventry) (NYSE: CVH) is a managed health care company in the United States. On February 8th of 2007 Coventry agreed to acquire Concentra's Workers Compensation Managed Care Services Businesses. External links
The corrected release reads: COVENTRY RECEIVES CMS APPROVAL TO RESUME MARKETING OF MEDICARE ADVANTAGE PRIVATE FEE-FOR-SERVICE PLANS Coventry Health Care, Inc. (NYSE NYSE See: New York Stock Exchange :CVH) today announced that it has received approval from the Centers for Medicare and Medicaid Services The Centers for Medicare and Medicaid Services (CMS), previously known as the Health Care Financing Administration (HCFA), is a federal agency within the United States Department of Health and Human Services (DHHS) that administers the Medicare program and (CMS) to resume marketing of individual Medicare Advantage Private Fee-for-Service (PFFS PFFS Private Fee-For-Service ) Plans. The approval was granted following an on-site CMS audit conducted August 14-16, 2007. Coventry worked cooperatively with CMS to gain approval for the implementation of the new CMS 2008 marketing guidelines. The Company's PFFS enrollments for 2007 will be limited to beneficiaries newly eligible to participate in the Medicare program. Additionally, Coventry will continue to train and certify agents to begin marketing October 1, 2007, for the upcoming 2008 open enrollment period. On June 15, 2007, Coventry, along with six other leading Medicare Advantage health plans, temporarily suspended marketing of individual Medicare Advantage PFFS Plans to facilitate the immediate implementation of additional safeguards to protect Medicare beneficiaries. The Company has a 10-year record in delivering excellent service to thousands of Medicare recipients across the country. Existing members of Coventry's PFFS program are not affected by this announcement. Coventry Health Care currently contracts with CMS to offer Medicare Advantage HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, , PPO PPO abbr. preferred provider organization PPO Managed care Preferred provider organization, see there Infectious disease Pleuropneumonia-like organism, see there , PFFS and Part D Plans. Coventry Health Care (www.cvty.com) is a diversified national managed healthcare company based in Bethesda, Maryland, operating health plans, insurance companies, network rental and workers' compensation services companies. Through its Commercial Business, Individual Consumer & Government Business, and Specialty Business divisions, Coventry provides a full range of risk and fee-based managed care products and services to a broad cross section of individuals, employer and government-funded groups, government agencies, and other insurance carriers and administrators. |
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