Does Physicians Health Choice Still Sell Insurance?
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Asked December 31, 2012
Physicians Health Choice was a specialized health insurance company based in Minnetonka, Minnesota. The company was focused on providing an assortment of Medicare HMO plans and supplemental coverage. The company is still in existence today, but no longer underwrites their own policies. Instead, the company is now recognized as a wholly owned subsidiary of the United Health Group.
Physicians Health Choice was founded in 2005, with the mission of supplying Medicare recipients with HMO health insurance and supplemental coverage plans. During recent shakeups in the insurance industry, Physicians Health Choice was purchased by United Health Care, adding their experience to United's more than 30 years of combined health insurance experience. The merger of Physicians Health Choice increased the reach of the company, giving them access to more people around the country, and increasing the overall reach of United health Care to more than 37 million Americans.
Company Financial Information
Physicians Health Choice is not separately rated by the A.M. Best financial ratings company. As a subsidiary of the United Health Group, it shares the ratings of the parent company. United Health Group was rated as "A (excellent)" in January of 2012, with a stable long term outlook of "a." United Health Group is estimated to have total assets of 2 billion dollars or more.
Insurance Products Offered
Physicians Health Choice offers more than 30 Medicare Advantage Plans to qualified applicants, and is focused on the state of Texas, where the company reports more than 27,000 members. Since company products are limited to those affiliated with Medicare, the company must conform to the Medicare laws of the States in which their products are sold, including specified enrollment periods. For health insurance products outside of those offered in conjunction with Medicare, Physicians Health Choice refers customers to the parent company.
Answered December 31, 2012 by Anonymous