Wellpoint Health Care-Providing Coverage For Health, Anthem Faces Many Challenges: Wellpoint Health Care

Wellpoint Health Care-Providing Coverage For Health, Anthem Faces Many Challenges

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Monday, July 19, 2010

Wellpoint Health Care

Posted by V.Dinesh at 12:02 AM

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Providing Coverage For Health, Anthem Faces Many Challenges

A leader in the industry, Anthem was founded the 1980s as a corporate spinoff of American General Insurance's group health coverage operations. In 1993, Anthem merged with Blue Cross and Blue Shield of Kentucky, which was its first cross-state merger. In 1995, Anthem merged with Community Mutual, Ohio's Blue Cross and Blue Shield plan. In 1997, Anthem merged with Blue Cross and Blue Shield of Connecticut. In 1999, Anthem acquired New Hampshire, Colorado and Nevada.

And in 2000, Anthem acquired Blue Cross Blue Shield of Maine. In October 2001, Anthem moved from a mutual organization to a publicly-traded company and conducted an initial public offering of common stock and began converting to a for-profit enterprise. In 2002, Anthem acquired the Blue Cross and Blue Shield plan in Virginia, Trigon Healthcare of Virginia. And in 2004, Anthem and WellPoint Health Networks, Inc. merge to become WellPoint, Inc, the largest member. Wellpoint began offering common stock under the WLP symbol on December 1, 2004.

Anthem was no longer an independent company, but WellPoint continues to use the Anthem name in 11 states. In 2005, WellPoint, Inc. acquired Lumenos, a leader in consumer-driven health plans and merged with WellChoice, Inc. in New York. In 2007WellPoint, Inc. acquired American Imaging Management (AIM), the leading radiology benefit management company. In 2008, WellPoint, Inc. acquired Resolution Health, Inc., a leading data analytics-driven personal health care guidance company.

Wellpoint and its Anthem brand have had their share of issues: In July 2008, WellPoint subsidiary Anthem settled with the California Department of Managed Health Care over allegations of improper rescission. WellPoint paid $10 million, reinstated 1,770 policy-holders and agreed to provide compensation for any medical debts incurred by these policy-holders in the meantime, but did not officially admit liability.

Consumer Watchdog claims that in August 2009, WellPoint's Anthem unit in California urged employees to oppose the Democratic Party-led Congress' plan for health care reform. In 2009, Anthem received 2 out of 4 stars in Meeting National Standards of Care and How Members Rate Their HMO on the California Healthcare Quality Report Card. And currently, in 2010, Federal and California regulators are investigating claims of excessive premium increases.

Health care coverage has a long, convoluted, and controversial history in this country.Anthem and Wellpoint are certainly not alone in their issues: in fact, in the history of health, Anthem and Wellpoint could well be considered a success story.

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