Insurance Help Finally In Sight for Farmers, According to a New Report from HealthLeaders-InterStudy
NASHVILLE, Tenn., June 25 /PRNewswire/ — HealthLeaders-InterStudy, the leading provider of managed care marketing intelligence, reports that both national insurer Aetna and regional plan Dean Health Plan are strengthening their market share in Wisconsin. According to the latest Wisconsin Health Plan Analysis, Dean Health Plan acquired Navitus Health Solutions, a Madison-based pharmacy benefits manager (PBM), and Aetna is on board to underwrite the insurance for the recently formed Farmers’ Health Cooperative of Wisconsin.
Dean Health Plan boasts the top enrollment in the HMO stronghold of Madison and has a total of 204,207 members statewide, according to HealthLeaders-InterStudy enrollment data. Navitus, meanwhile, oversees around $500 million in prescription drug sales annually, and has been successful in lowering prescription drug costs for state and local government employees in Wisconsin by a reported $140 million-plus over the past three years. Through this acquisition, Dean will now be able to manage the cost of all components of healthcare for its members, including its prescription drug expenditures, the most costly component of healthcare.
“In a time where many smaller regional plans are facing financial trouble or being gobbled up by larger players, Dean Health Plan is one of those bucking the trend,” states Ric Gross, HealthLeaders-InterStudy market analyst and author of the report.
Aetna is looking to boost its presence in Wisconsin as well. The national insurer will underwrite the insurance for the Farmers’ Health Cooperative of Wisconsin, which will offer farmers in the state access to six different health plans, all of which will offer 24-hour, seven-day-a-week coverage, among other benefits. Wisconsin farmers have long struggled when it comes to health insurance, as it is a group generally seen as high risk by insurers.
Aetna has a three-year contract with the co-op, and individual participants are required to join for a three-year membership. There are six plans to choose from, ranging from a low-premium, high-deductible coverage with a health savings account to a low-deductible plan aimed at agribusinesses. Deductibles range from $300 for an individual to $5,000 for a family, with prescription drug coverage and coverage for on-the-job injuries, among other benefits.
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Source: HealthLeaders-InterStudy
