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UNICARE is the national operating unit of WellPoint Health Networks Inc. (NYSE:WLP),
one of the nation's largest publicly traded managed care companies servicing the health care needs of over 6.1 million members. Providing managed care and specialty health care services throughout the United States.
In 1995, UNICARE became the brand name for most of the WellPoint businesses
operated outside of California. WellPoint acquired the group Life and Health subsidiary of Massachusetts Mutual Life Insurance Company®' in 1996. Unicare recently acquired the Group Health and related
life business of John Hancock Mutual Life Insurance Company®".
Special Features
UNICARE offers Traditional and PPO plans with Copayments and Rx Card.
Liberal underwriting allows people with certain medical conditions such as controlled diabetes to get insurance at reasonable rates. Stand Alone child policies available. UNICARE-Illinois is one of the few
carriers offering a PPO plan with the University of Chicago Hospitals in the PPO network. The only downside we see is that Maternity is not available.
Rates and Service
UNICARE plans are unique in that in-network benefits are very good, non
network benefits has large out of pocket exposure potentials. Rates are very competitive as UNICARE attempts to build critical levels of market penetration.
The combination of non-network out of pocket exposure and market goals give UNICARE some of the best initial rates around. Service
Underwriting and Billing
Underwriting is thorough but UNICARE will take on some risks that many
carriers will not. You can expect medical records to be asked for if. You would expect thorough underwriting with rates somewhere between 10-35% less than other carriers. Billing is by monthly bank draft.
Underwriting is very flexible.
Renewal Rate History
Any carrier with very low initial rates will probably have renewals higher
than industry averages. You should expect this carriers rates will rise more than the industry averages.
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