January 31, 2018
Mutual
of Omaha recently announced its entry into the Medicare Advantage market
through a strategic alliance with Lumeris, a St. Louis-based provider of
value-based health care solutions.
Beginning
in 2019, Mutual and Lumeris plan to offer a Medicare Advantage plan with
prescription drug coverage in select markets. According to a joint press
release dated Jan. 17, the multi-year agreement between Mutual and Lumeris
“will create Medicare Advantage plans across the country to provide
high-quality and efficient care for Mutual Medicare Advantage customers.”
According
to the Kaiser Family Foundation, one in three people
with Medicare are currently enrolled in a Medicare Advantage plan, and by 2027
that number is expected to climb to 41%.
“Our
entrance into the Medicare Advantage market represents a significant step
forward for Mutual of Omaha as we strive to respond to customer needs and offer
a meaningful suite of senior health solutions,” said Mutual Chairman and CEO
James Blackledge. “We’re confident that our collaboration with Lumeris will
lead to better health outcomes for our Medicare Advantage customers.”
Lumeris,
which bills itself as a pioneer in enabling collaborative relationships between
payers, providers and consumers, earned recognition as the Best in KLAS leader
in Value-Based Care Managed Services for 2015/2016 and 2017. The company has
over 10 years of experience with Medicare Advantage plans and has developed
what it calls “a highly successful, collaborative payer model that consistently
delivers better clinical outcomes for patients.” The first-of-its kind,
value-based model emphasizes the wellness of patients and the pursuit of better
health outcomes, lower costs, improved patient experience and physician
satisfaction.
“Our
new initiative with Mutual of Omaha is exciting because it enables both of our
companies to build on our successes, while remaining laser-focused on what
matters most—delivering the highest quality care to seniors,” said Lumeris
Chairman and CEO Mike Long. “This new partnership also leverages each company’s
unique strengths to benefit the larger health care ecosystem. Together, we will
make a deeper, more meaningful difference in the lives of patients and
providers.”
Blackledge
said the alliance will further solidify Mutual of Omaha’s leadership in the
senior health market. “Mutual of Omaha was one of the first providers of
Medicare Supplement plans, and we intend to continue to meet the changing
health care-related needs of seniors. By entering the Medicare Advantage market
with Lumeris’ proven value-based care model, we will be able to offer our
senior customers a full array of solutions.”
Under
the terms of the strategic operating agreement, Mutual of Omaha will own and
carry the name of the new Medicare Advantage plans and provide brand, marketing
and distribution expertise and capital. Lumeris will work as a strategic
operating partner to help evaluate markets, establish networks, align with
providers and administer plans. An Executive Steering Committee comprised of
Mutual and Lumeris representatives will provide oversight and governance of the
plans. In addition, Blackledge has joined the Lumeris board of directors.
Medicare
Advantage plans rely on private companies to provide Medicare benefits that are
traditionally provided by the government. Most Medicare Advantage plans employ
a managed care model and offer additional benefits not traditionally covered by
Medicare Parts A and B, including prescription drug coverage.
About
Mutual of Omaha: Founded in 1909, Mutual of Omaha is a
Fortune 500 organization offering a variety of insurance, banking and financial
products for individuals, businesses and groups throughout the United States.
In the individual market, Mutual is a leader in the Medicare Supplement, life,
long-term care, disability and annuity lines. The company also offers a
portfolio of employee benefit and retirement solutions. For more information
visit www.mutualofomaha.com.
About
Lumeris: Lumeris serves as a long-term operating partner for
organizations that are committed to the transition from volume- to value-based
care and delivering extraordinary clinical and financial outcomes. The company
guides health systems and providers through transitions from volume to value,
enabling them to deliver improved and more affordable care across
populations—with better outcomes. Lumeris works collaboratively with payers to
align contracts and engage physicians in programs that drive high-quality,
cost-effective care with satisfied consumers—and engaged physicians. For more
information visit www.lumeris.com.
https://insurance-forums.com/medicare/mutual-omaha-partners-lumeris-enter-medicare-advantage-market/
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