Coventry Health Care

Coventry Health Care, Inc. was an American health insurance company that became a part of Aetna in 2013. It was a diversified national insurer in the United States, operating across all 50 states. The company provided a range of insurance products including HMO, PPO, POS, Medicare and Medicaid plans, as well as workers' compensation and network rental services. Coventry Health Care was known for its commitment to improving the access and quality of healthcare services for its members, while managing healthcare costs effectively.

History

Coventry Health Care was founded in 1986 in Bethesda, Maryland. Over the years, it grew through a series of acquisitions and expansions, becoming one of the major health insurance companies in the U.S. The company's growth strategy included the acquisition of smaller insurance firms, expansion into new markets, and the development of new insurance products to meet the diverse needs of its customer base.

In 2013, Coventry Health Care was acquired by Aetna, a deal that significantly expanded Aetna's footprint in the managed health care industry. This acquisition allowed Aetna to enhance its portfolio of health care services and extend its reach to a wider audience across the United States.

Products and Services

Coventry Health Care offered a comprehensive range of health insurance products and services designed to meet the varying needs of individuals, families, and employers. These included:

• HMO Plans: Health Maintenance Organization plans that required members to choose a primary care physician and obtain referrals for specialist care.
• PPO Plans: Preferred Provider Organization plans that offered more flexibility in choosing healthcare providers and did not require referrals for specialists.
• POS Plans: Point of Service plans that combined features of HMO and PPO plans, offering a balance of flexibility and cost savings.
• Medicare and Medicaid Plans: Government-sponsored programs for eligible individuals, including seniors and low-income families.
• Workers' Compensation: Insurance providing medical benefits and wage replacement to employees injured in the course of employment.
• Network Rental Services: Services offering access to Coventry Health Care's network of healthcare providers to other insurance companies and employers.

Impact and Legacy

The acquisition of Coventry Health Care by Aetna marked a significant moment in the health insurance industry, highlighting the trend towards consolidation among health insurers. Coventry's integration into Aetna helped to create a more diversified and comprehensive healthcare company with a broader national reach. The merger also aimed to improve the quality of healthcare services and access for members, while striving to control healthcare costs through more efficient service delivery.

Coventry Health Care's legacy continues through its contributions to the development of innovative insurance products and services that cater to the needs of a diverse population. Its focus on customer service and cost management has left a lasting impact on the health insurance industry.

See Also

• Health insurance in the United States
• Managed care
• Aetna