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CHICAGO and BETHESDA, Md., Oct. 30 /PRNewswire/ -- 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 http://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/ .
SOURCE: Bankers Life and Casualty Company; Coventry Health Care
CONTACT: Barbara Ciesemier of Bankers Life and Casualty Company,
+1-312-396-7461, b.ciesemier@banklife.com ; or Drew Asher of Coventry Health
Care, Inc., +1-301-581-5717