Stock Symbol: WC
11 W 42nd St
WellChoice Inc Industry:
WellChoice Inc Description:
WellChoice, Inc., headquartered in New York City, is the largest health insurance company in the State of New York based on PPO and HMO membership. The Company has a total enrollment of 4.6 million members and has the exclusive right to use the Blue Cross and Blue Shield names and marks throughout the New York City metropolitan area and one or both of these names and marks in selected upstate counties.
WellChoice Inc Financial Summary:
WellChoice Inc Business Summary:
WellChoice, Inc. operates as a health insurance company in the United States. It operates through two segments, Commercial Managed Care (CMC), and Other Insurance Products and Services (OIPS). CMC segment includes group preferred provider organization (PPO) plan, health maintenance organization plan, exclusive provider organization (EPO) plan, and other products (point of service, and dental-only coverage), as well as PPO business under its accounts with New York City and New York State. This segment provides members and their dependent family members with various health care services that include emergency care, inpatient hospital and physician care, outpatient medical services, and supplemental services, such as behavioral health and prescription drugs. OIPS segment consists of indemnity and individual products. Indemnity products include traditional indemnity products and government contracts with Centers for Medicare and Medicaid Services to act as a fiscal intermediary and carrier. Individual products include Medicare supplemental; state sponsored plans; government mandated individual plans; and individual hospital-only, and hospital and medical products. In addition, the company offers the BlueCard program to its members who purchase its PPO, EPO, and indemnity products under a Blue Cross Blue Shield plan. The BlueCard program offers these members in-network benefits through the networks of the other Blue Cross Blue Shield plans in other states and regions, as well as in-network coverage in approximately 200 countries and territories. The company’s customer base consists of local governmental employers, labor unions, small and mid-sized companies; and multistate employers. It distributes its products through internal sales force, independent brokers, telemarketing staff, and online. WellChoice has collaboration agreement with IBM and Aware Dental Services, LLC. The company was formed in 2002 and is headquartered in New York City.