Type of Insurance Company: Health InsuranceName of Parent Company: Wellpoint, Inc.
Company Overview:
Company History: Wellpoint, Inc. is a publicly traded holding company that operates a variety of health care networks and health care management services and provides an array of specialty health care products including disability insurance, dental coverage, vision coverage, and consumer driven health plans and certain life insurance benefits related to its group health coverages. Wellpoint operates through a fleet of over 45 companies and markets its services and products to employers, individuals and seniors. Wellpoint, Inc. emerged from numerous mergers among predecessor companies and was formed from the 2004 merger of Wellpoint Health Networks, Inc.(created from California based Blue Cross organizations) and Anthem, Inc., (which grew out of two Indianapolis based mutual insurers that eventually merged and became Blue Cross and Blue Shield of Indiana). Wellpoint's Blue Cross and Blue Shield licensed subsidiaries and their affiliates provide a comprehensive range of group and individual health benefit, life and disability plans. Headquartered in Indianapolis, Indiana,
WellPoint is an independent licensee of the Blue Cross and Blue Shield Association and serves its
members as the Blue Cross licensee for California; the Blue Cross and Blue Shield licensee for Colorado,
Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri (excluding 30 counties in the Kansas City
area), Nevada, New Hampshire, New York (as Blue Cross Blue Shield in 10 New York City metropolitan
and surrounding counties and as Blue Cross or Blue Cross Blue Shield in selected upstate counties only),
Ohio, Virginia (excluding the Northern Virginia suburbs of Washington, D.C.), Wisconsin; and through
UniCare.
Principal Methods: Wellpoint markets its products through a network of independent agents and brokers as well as through an in-house sales force.
Health Business: WellPoint, Inc. (WellPoint) is a commercial health benefits company serving approximately 34 million medical members as of December 31, 2006. The Company is an independent licensee of the Blue Cross Blue Shield Association (BCBSA), an association of independent health benefit plans. The Company serves its members as the Blue Cross licensee for California and as the Blue Cross and Blue Shield (BCBS), licensee for Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri (excluding 30 counties in the Kansas City area), Nevada, New Hampshire, New York, Ohio, Virginia and Wisconsin. The Company also serves its members throughout various parts of the United States as UniCare. WellPoint is licensed to conduct insurance operations in all 50 states and Puerto Rico through its subsidiaries. On June 9, 2005, the Company acquired Lumenos, Inc. On December 28, 2005, the Company completed its acquisition of WellChoice, Inc.
Company Rating:
Best Insurance Reports: 70064
Best Rating: A
(the rating for most of the health subsidiaries)
Company Financial Status:
Ticker Symbol: WLP
Assets & Premiums: Wellpoint's assets at the end of 2006 totaled $51.8 billion and revenues for 2006 were $57.0 billion.
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