Centene consolidating Medicare Advantage plan branding under WellCare
Centene said the move will better align with the company's strategy and build stronger brand awareness.
Photo: bymuratdeniz/Getty Images
Major insurer Centene said Thursday it will consolidate all of its Medicare Advantage brands under its wholly-owned subsidiary, WellCare. Centene acquired WellCare Health Plans in January 2020 for about $17 billion.
Centene said the move will better align with the company's strategy and build stronger brand awareness.
The insurer's Medicare brands, including Allwell, Health Net, Fidelis Care, Trillium Advantage, Ohana Health Plan and TexanPlus, will become one unified Medicare brand under the WellCare name.
WHAT'S THE IMPACT?
Since the acquisition, WellCare's Medicare footprint has grown, resulting in several Medicare Advantage brands across 33 states. That was the main impetus behind the MA brand consolidation strategy, which Centene senior video president and CEO of Medicare Rich Fisher said would result in better service for the company's 1.1 million MA members nationally.
The "brand refresh," as Centene calls it, also includes a new, modernized logo the company hopes will convey a new sense of optimism and consumer friendliness. The tone and voice of the brand will also be more straightforward, the insurer said, offering an easier overall experience for members.
Wellcare has offered a range of Medicare products for more than 20 years, including Medicare Advantage and Medicare Prescription Drug Plans, which offer coverage beyond original Medicare.
Today, the company offers benefits such as dental, hearing and vision services; Flex cards to assist with co-pays; transportation services; telehealth visits; wellness and fitness programs; in-home support services; and special supplemental benefits for the chronically ill.
THE LARGER TREND
When Centene first acquired WellCare, the combination was expected to generate about $500 million of annual net cost synergies by the second year, and a push was made to address the social determinants of health such as food insecurity, housing instability, homelessness, unemployment, lack of access to transportation and other non-medical barriers to health.
It's not the only acquisition Centene has made in recent years. In January it agreed to buy Magellan Health for $2.2 billion. The companies said the deal will enable better health outcomes at lower total medical costs via integrated solutions, and create opportunities to grow Centene's specialty care business with enhanced services, new product development and additional third-party relationships.
Not all of Centene's subsidiaries have had a smooth go of it. In March, Ohio Attorney General Dave Yost filed a lawsuit against the insurer alleging that company subsidiary Buckeye Health Plan used a web of subcontractors for the provision of pharmacy benefits to misrepresent pharmacy costs, resulting in millions of dollars of overpayments by the Ohio Department of Medicaid.
Twitter: @JELagasse
Email the writer: jeff.lagasse@himssmedia.com
