WellPoint and HealthAxis.com Announce Internet Carrier Agreement
EAST NORRITON, Pa. & NEWBURY PARK, Calif.--(BUSINESS WIRE)-- July 12, 1999--
WellPoint Health Networks to Distribute Blue Cross of California and UNICARE Insurance Products through HealthAxis.com in Seven States
HealthAxis.com, the Internet's leading online insurance marketer and a subsidiary of Provident American Corp. (Nasdaq:PAMC), and WellPoint Health Networks Inc. (NYSE:WLP), one of the nation's largest publicly traded managed care companies, today announced an Internet carrier partner agreement to distribute Blue Cross of California and UNICARE insurance products through HealthAxis.com in seven states.
Under the agreement, online consumers will be able to purchase WellPoint's well-known health insurance products, branded under the Blue Cross and UNICARE names, on HealthAxis.com. The rollout of these insurance products will start in California and then distribution will extend to the other six states - Georgia, Illinois, Indiana, Nevada, Texas, and Virginia - in the near future. These insurance offerings will include health insurance and other specialty products for individuals and families. The Companies also expect to offer health insurance for the small group market in the near future.
Michael Ashker, Chief Executive Officer of HealthAxis.com said, "The WellPoint brands, especially Blue Cross of California and UNICARE, are among the most recognized names in the healthcare industry. We are excited about adding these gold-plated brands to our already strong portfolio of products. This agreement with WellPoint underscores HealthAxis.com's growing importance in the health insurance marketing industry. Major carriers are recognizing the emerging strength of the Internet channel and that HealthAxis.com is best positioned to bring them online to capture this new frontier."
Alan Katz, Senior Vice President of Sales Development for WellPoint said, "We see Internet-assisted sales as an important part of our future. As the leading player in online insurance marketing, HealthAxis.com is perfectly positioned to help us move into this market. HealthAxis.com's exclusive relationships with Internet networks including America Online, Lycos, CNet and Snap! reach tens of millions of online consumers, making it a critical route to tapping the Internet marketplace. This partnership supports our existing distribution strategy, and, at the same time, creates new revenue opportunities for us."
About HealthAxis.com
HealthAxis.com, Inc. is a pioneer in the Internet distribution of health and life insurance to the individual and small group markets. HealthAxis.com is a fully-transactional, "digital insurance agent." HealthAxis.com does not engage in any insurance underwriting and assumes no underwriting risk. Through its interactive, user-friendly, one-stop healthcare insurance Web site, healthaxis.com, HealthAxis.com provides customers with access to and the ability to purchase a full range of high quality insurance products at competitive prices. HealthAxis.com also provides product information and advice, instant price quotes, electronic application processing, online billing, claims status, policy or personal information changes, and a customer hotline. Policyholders can easily and conveniently view billing information, claims history and policy details - day and night, 7 days a week. HealthAxis.com has Internet distribution agreements with AOL (Keyword: HealthAxis), Lycos, CNet and Snap! HealthAxis.com is currently in the process of merging with its parent company, Provident American Corporation (Nasdaq: PAMC).
About WellPoint
WellPoint Health Networks Inc., is one of the nation's largest publicly traded managed care companies, serves the health care needs of 6.9 million medical and approximately 30 million specialty members nationally through Blue Cross of California in California, and UNICARE throughout other parts of the country. WellPoint offers a broad spectrum of quality network-based health products, including HMO, PPO, POS, hybrid and specialty managed care products. Specialty products include pharmacy benefit management, dental, utilization management, vision, mental health, life and disability insurance, flexible spending accounts, COBRA administration, and Medicare supplements.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements made by the Company which are not historical facts may be considered forward-looking statements, including, without limitation, statements as to trends, management's beliefs, expectations and opinions, which are based upon a number of assumptions concerning future conditions that ultimately may prove to be inaccurate. Such forward-looking statements are subject to risks and uncertainties and may be affected by various factors which may cause actual results to differ materially from those in the forward-looking statements. For further information which could cause actual results to differ from the Company's expectations as well as other factors which could affect the Company's financial statements, please refer to the Company's reports filed with the Securities and Exchange Commission.
CONTACT:
HealthAxis.com
Investor Contact
Deidre Holt, 610/275-3800
E-mail: deidreh@earthlink.net
or
Robinson Lerer & Montgomery
for HealthAxis.com
Media Contact
Lisa Wolford, 212/484-7058
E-mail: lwolford@rlmnet.com
or
WellPoint Health Networks
Peter O'Neill, 805/557-6794
E-mail: peter.o'neill@wellpoint.com |
