Company type | Defunct |
---|---|
Industry | Health insurance |
Founded | 1986 |
Defunct | May 7, 2013 |
Fate | Acquired by Aetna |
Headquarters | North Bethesda, Maryland (Bethesda mailing address) |
Key people | Allen Wise (CEO) |
Revenue | US$ 14.113 billion (2012) |
US$ 759.69 million (2012) | |
US$ 487.06 million (2012) | |
Total assets | US$ 8.750 billion (2012) |
Total equity | US$ 4.722 billion (2012) |
Number of employees | 14,400 (January 2013) |
Footnotes /references [1] |
Coventry Health Care, Inc. was a health insurer in the United States. It had 3.7 million medical members, 1.5 million Medicare Part D members, and 900,000 Medicaid members. [2] In May 2013, the company was acquired by Aetna for $5.7 billion.
The company was founded in 1986 in Nashville by Phil Bredesen. [3]
In August 1998, the company merged with Principal Health Care and moved its headquarters to Bethesda, Maryland. [3]
In October 2000, the company acquired WellPath, the managed care subsidiary of Duke University Health System, for $20.7 million. [4]
In October 2010, the company acquired MHP (Mercy Health Plans), an insurer with approximately 180,000 members in Missouri and northwest Arkansas. [5]
In January 2012, the company acquired Children's Mercy's Family Health Partners. [6]
In May 2013, the company was acquired by Aetna for $5.7 billion, who then outsourced all IT work and laid off thousands of key personnel [2] [7]
Aetna Inc. is an American managed health care company that sells traditional and consumer directed health care insurance and related services, such as medical, pharmaceutical, dental, behavioral health, long-term care, and disability plans, primarily through employer-paid insurance and benefit programs, and through Medicare. Since November 28, 2018, the company has been a subsidiary of CVS Health.
The Cigna Group is an American multinational for-profit managed healthcare and insurance company based in Bloomfield, Connecticut. Its insurance subsidiaries are major providers of medical, dental, disability, life and accident insurance and related products and services, the majority of which are offered through employers and other groups. Cigna is incorporated in Delaware.
Humana Inc. is an American for-profit health insurance company based in Louisville, Kentucky. In 2023, the company ranked 42 on the Fortune 500 list, which made it the highest ranked company based in Kentucky. It is the fourth largest health insurance provider in the U.S.
Health Net, LLC, a subsidiary of Centene, is an American health care insurance provider. Health Net and its subsidiaries provide health plans for individuals, families, businesses and people with Medicare and Medicaid, as well as commercial, small business, and affordable care insurance.
Genworth Financial, headquartered in Richmond, Virginia, provides life insurance, long-term care insurance, mortgage insurance, and annuities.
UnitedHealth Group Incorporated is an American multinational for-profit company specializing in health insurance and health care services based in Minnetonka, Minnesota. Selling insurance products under UnitedHealthcare, and health care services under the Optum brand, it is the world's ninth-largest company by revenue and the largest health care company by revenue.
Express Scripts Holding Company is a pharmacy benefit management (PBM) organization. In 2017 it was the 22nd-largest company in the United States by total revenue as well as the largest pharmacy benefit management (PBM) organization in the United States. Express Scripts had 2016 revenues of $100.752 billion. Since December 20, 2018, the company has been a direct subsidiary of Bloomfield, Connecticut-based Cigna.
WellCare Health Plans, Inc. is an American health insurance company that provides managed care services primarily through Medicaid, Medicare Advantage and Medicare Prescription Drug plans for members across the United States.
Centene Corporation is an American for-profit healthcare company based in St. Louis, Missouri, which is an intermediary for government-sponsored and privately insured healthcare programs. Centene ranked No. 25 on the 2023 Fortune 500.
CVS Health Corporation is an American for-profit healthcare company that owns CVS Pharmacy, a retail pharmacy chain; CVS Caremark, a pharmacy benefits manager; and Aetna, a health insurance provider, among many other brands. The company is the world's second largest healthcare company, behind UnitedHealth Group. In 2023, the company was ranked 64th in the Forbes Global 2000.
Laboratory Corporation of America Holdings (Labcorp), headquartered in Burlington, North Carolina, provides laboratory services used for diagnosis and healthcare decisions. It operates one of the largest clinical laboratory networks in the world and has operations in over 100 countries; although its operations are primarily in the U.S.
CareSource is a nonprofit that began as a managed health care plan serving Medicaid members in Ohio. Today, it provides public health care programs including Medicaid, Medicare, and Marketplace. The company is headquartered in Dayton, Ohio. It is the largest Medicaid plan in Ohio and is second largest in the United States.
Molina Healthcare, Inc. is a managed care company headquartered in Long Beach, California, United States. The company provides health insurance to individuals through government programs such as Medicaid and Medicare.
Elevance Health, Inc. is an American for-profit health insurance provider. Prior to June 2022, Elevance Health was named Anthem, Inc. The company's services include medical, pharmaceutical, dental, behavioral health, long-term care, and disability plans through affiliated companies such as Anthem Blue Cross and Blue Shield, Anthem Blue Cross in California, Wellpoint, and Carelon. It is the largest for-profit managed health care company in the Blue Cross Blue Shield Association. As of 2022, the company had 46.8 million members within its affiliated companies' health plans.
Mark T. Bertolini is an American businessman who is currently the CEO of Oscar Health, a tech-driven health insurance company located in New York. He was the co-CEO of Bridgewater Associates, one of the world's largest hedge funds, and was previously the CEO of Aetna, a Fortune 50 diversified health care benefits company with over $60 billion in 2015 revenue. Bertolini assumed the role of CEO on November 29, 2010 and of chairman on April 8, 2011, until Aetna was sold to CVS on November 28, 2018.
Fidelis Care is a New York-based health insurance company formed in 1993.
Bright Health Group, Inc. is an American health insurance company based in Minneapolis, Minnesota.
The Patient Protection and Affordable Care Act, often shortened to the Affordable Care Act (ACA) or nicknamed Obamacare, is a United States federal statute enacted by the 111th United States Congress and signed into law by President Barack Obama on March 23, 2010. Together with the Health Care and Education Reconciliation Act of 2010 amendment, it represents the U.S. healthcare system's most significant regulatory overhaul and expansion of coverage since the passage of Medicare and Medicaid in 1965. Once the law was signed, provisions began taking effect, in a process that continued for years. Some provisions never took effect, while others were deferred for various periods.
Optum, Inc. is an American healthcare company that provides technology services, pharmacy care services and various direct healthcare services.
CareFirst BlueCross BlueShield is a health insurance provider serving 3.5 million individuals and groups in Maryland and the Washington metropolitan area. It has dual headquarters in Baltimore, Maryland and Washington, D.C. It is a nonprofit organization and an independent licensee of the Blue Cross Blue Shield Association.