Coventry Health Care of Florida Launches Innovative Health Care Plans

TAMPA, Fla., Jan 11, 2011 (BUSINESS WIRE) — Coventry Health Care of Florida (NYSE: CVH) is first to the greater Tampa market with a portfolio of hybrid PPO (preferred provider organization) health care plans that blend the best features of traditional co-pay based plans with the freedom and affordability of consumer-directed plans. Coventry’s Sunny Joe products are the only health plans in the Tampa area with true out-of-pocket maximum amounts, which include the annual deductible and all medical and prescription drug co-pays. Available to employer groups in Hillsborough, Pinellas, Pasco and Hernando counties, Sunny Joe health care plans provide comprehensive benefits for the employee at a much lower price point for the employer group. 

The health plans are ideal for the company that is searching for a product that combines low premiums with reasonable cost-sharing for employees, which is then offset with co-pays for health care services that are typically used the most. There are four Sunny Joe health care plans available with varying deductible levels ($1,500, $2,000, $3,000 and $5,000) and co-pays starting as low as $3 for tier-one generic drugs and $35 for primary care office visits.

According to Families USA, less than half of employers with fewer than 50 employees offer health care plans. “Many companies would like to offer health insurance to their employees but simply can not afford what’s available in the market,” explains Christopher Ciano, chief executive officer for Coventry Health Care of Florida. “We are now offering companies a viable and affordable solution for health care.”

The launch of the Sunny Joe product portfolio is one component of the company’s strategy for membership growth in Florida. As a result of health care reform, Coventry Health Care of Florida’s main segments of focus, for this year, are small and medium size employer groups, as well as the individual market. In addition, Medicare Advantage and Managed Medicaid will continue to be an important segment for growth. For more information or to receive a quote for a Sunny Joe plan, call 1-866-576-1094.

Coventry Health Care of Florida offers individuals and employer groups a full range of health care plans and products to choose from including HMO, POS, PPO, Open Access, Consumer Driven, Medicare, Medicaid, Healthy Kids and Long Term Care. More than 400,000 Floridians and 7,500 employers depend on Coventry for their health care needs. For more information, visit chcflorida.com.

Nationally, Coventry Health Care is a publicly traded (NYSE: CVH), Fortune 500 company that serves more than 5 million members in all 50 states.

SOURCE: Coventry Health Care of Florida

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