BANKERS LIFE AND CASUALTY COMPANY AND COVENTRY HEALTH CARE ANNOUNCE EXPANSION OF STRATEGIC ALLIANCE TO INCLUDE MEDICARE ADVANTAGE PRIVATE-FEE-FOR-SERVICE PLANS THROUGH BANKERS' CAREER AGENCY FORCE
Monday, October 30, 2006
CHICAGO and BETHESDA, Md. (Oct. 30, 2006) -
Bankers Life and Casualty Company and Coventry Health Care today
announced the expansion of their strategic alliance under which
Bankers Life will offer Coventry's Advantra Freedom Plans to its
policyholders and consumers.
Advantra Freedom is a new Medicare Advantage
Private-Fee-For-Service plan designed to provide seniors with more
choices and better coverage at lower cost than original Medicare
and Medicare Advantage plans offered through HMOs.
"We are pleased to be expanding the successful partnership with
Coventry Health Care that we launched last year with the rollout of
the Coventry Medicare Part D prescription drug plan," said Scott
Perry, Executive Vice President and Chief Operating Officer of
Bankers Life. "Adding Advantra Freedom to Bankers Life's portfolio
of Medicare supplement plans, standalone Medicare prescription drug
plans, and long-term care insurance plans, provides our customers
with a range of products to address their health-related
concerns."
"Coventry is excited to further develop its partnership with
Bankers Life, which has already proven successful through the
Medicare Part D Program," said Fran Soistman, Executive Vice
President of Coventry Health Care. "The proprietary sales force of
Bankers Life represents a premier distribution channel with a
history of success in the senior market and will prove to be an
effective vehicle to offer the Advantra Freedom product to Medicare
beneficiaries."
With Advantra Freedom Private-Fee-For-Service plans, there are
no provider restrictions -- policyholders may go to any licensed
doctor or hospital in the United States that is willing to provide
care and accepts the plan's terms of payment. Under most Advantra
Freedom Plans, the policyholder pays no additional premium beyond
the Medicare Part B premium. There are no, or limited, copays for
most doctor visits, tests and hospitalization.
Many preventive care extras, such as allowances for eyewear and
hearing aids, are included in Advantra Freedom plans, and no
physical examination is required to enroll -- even if an applicant
has pre-existing conditions.
Eligible individuals may enroll in Private-Fee-For-Service
plans, where available, beginning Nov. 15, 2007. Plans are
currently available in 43 states and 75% of counties within those
states.
Established in 1879 in Chicago, Bankers Life and Casualty
Company focuses on the financial security needs of the mature
market. The nationwide company, a subsidiary of Conseco, Inc.,
offers a broad portfolio of health and life insurance and
retirement savings products designed especially for seniors. Visit
us online at www.bankers.com.
Coventry Health Care is a national managed health care company
based in Bethesda, Maryland operating health plans, insurance
companies, network rental/managed care and workers' compensation
services companies. Coventry provides a full range of risk and
fee-based managed care products and services, including HMO, PPO,
POS, Medicare Advantage, Medicare Prescription Drug Plans,
Medicaid, Workers' Compensation services and Network Rental to a
broad cross section of individuals, employer and government-funded
groups, government agencies, and other insurance carriers and
administrators in all 50 states as well as the District of Columbia
and Puerto Rico. More information is available on the Internet at
http://www.cvty.com/.
Contact: |
Barbara Ciesemier
312-396-7461
b.ciesemier@banklife.com |
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