VSP Discontinues Integrated Primary EyeCare Program

"Concerted third party and state advocacy efforts ensure Kentucky's optometrists have direct access to health plan members needing medical eye care via a business model that could be a bellwether for other states,"
 goes an American Optometric Assn. press release. "At the behest of a new state law—backed by the Kentucky Optometric Association (KOA) and AOA—VSP Vision Care announced on July 15 that their business model in Kentucky would change to allow doctors the opportunity to participate directly with the Cigna medical network sans participation with a vision care plan, and the state's VSP Integrated Primary EyeCare Program (IPEC) would be discontinued, effective Sept. 15, 2015. This change in posture comes after months of third party advocacy and legislative efforts by the KOA and AOA to roll back these tying arrangements between health and vision care plans for credentialing and contracting optometrists." Read more.

Athem Plans to Aquire Cigna

"Anthem (ANTM), a Blue Cross and Blue Shield insurer, said it would buy all of Cigna's (CI)shares in a cash and stock transaction," according to a CNN Money post. "The deal is expected to close in the second half of 2016, if it passes state regulatory approvals and other requirements. The merged insurer would cover 53 million members." Read more.

eyeQuest Tops One Million Subscribers

DentaQuest's eyeQuest now reaches more than one million members, according to a company press release. First implemented in 2009, the eyeQuest program has delivered its growth using the same time-tested approach to plan administration and service that has made DentaQuest’s dental product so successful. Read more.

VSP Supports CA Attempt to Stand Alone Vision Marketplace

"VSP, frustrated with its inability to offer adult vision care as a stand-alone benefit through Covered California, is backing an effort to establish a separate vision care marketplace linked to the exchange website," says the Sacramento Business Journal. "The vehicle to do this is Assembly Bill 1877 by Assemblyman Ken Cooley, a Democrat from Rancho Cordova. The bill creates a vision care access council in state government modeled after the state health benefit exchange. The council would contract with vision plans, manage the program and work with the exchange to establish a link between the two programs." Read more.

BC/BS of Massachusetts Hooks Up with EyeMed

Blue Cross Blue Shield of Massachusetts (BCBSMA) has created a new vision care plan, called Blue 20/20 with EyeMed Vision Care. It will provie for routine eye exams and savings on lenses and coatings through a network of more than 60,000 independent and chain providers, including LensCrafters, most Pearle's, Target, Sears, and JCPenny. For more information about Blue 20/20 contact your sales representative or call (800) 422-3545 for small group direct sales or (800) 531-2563 for small/large brokered sales. Read more.

ODs in Texas Lobbying to Negotiate with Insurers

“A group of Texas optometrists is lobbying the State Legislature for more power to negotiate contracts with health insurance companies, and the measure they are supporting could hit consumers’ wallets, some business advocates say,” according to the New York Times. “Senate Bill 632…would prohibit a common practice among insurers: contractually obligating optometrists to offer discounts on services and products that are not covered by the health plan, like a spare pair of glasses or cosmetic contact lenses that change eye color.” Read more.

A.M. Best Gives Thumbs Up to VSP and Its Subsidiaries

A.M. Best Co. has affirmed the financial strength rating (FSR) of A (Excellent) and the issuer credit ratings (ICR) of “a” of Vision Service Plan (VSP), according to a VSP spokesperson. The spokesperson noted that VSP possesses a significant share of the vision care benefits market in the United States due to its strong brand recognition, wide-array of products, extensive provider network and reputation for superior customer service. The organization’s overall revenue has grown in recent years primarily because of increased sales and growth within its existing customer base. The company also derives non-regulated revenue from its three non-insurance business segments—eyewear, optics and practice management software. A.M. Best reportedly believes VSP is well-positioned at its current ratings. Future negative rating actions could occur if the organization’s risk-adjusted capital materially decreases, operating results decline considerably and/or financial leverage materially exceeds the guidelines for its current ratings. The Aa rating also applies to the following VSP subsidiaries: Vision Service Plan Insurance Company (CT) , Vision Service Plan Insurance Company (MO) , Mid-Atlantic Vision Service Plan Inc. , Eastern Vision Service Plan Inc. , Vision Service Plan (OH) , Vision Service Plan (WA) , Indiana Vision Services Inc. , Massachusetts Vision Service Plan , Vision Services Plan Inc. Oklahoma , Alaska Vision Services Inc. , Vision Service Plan Inc. (NV) , Vision Service Plan of Idaho Inc. , Wisconsin Vision Service Plan Inc. Read more.

Ameritas Launches New Vision Plan

Ameritas Group, a division of Ameritas Life Insurance Corp., announces a new group Vision Perfect plan that features increasing annual maximums. The Vision Perfect with Increasing Annual Maximum plan automatically gives members an increased maximum benefit with each year on the plan. The plan includes no deductible, waiting period or late entrant provision. Read more.

Survey Says Employers to Cut Health Benefits

"Nearly one of every 10 midsize or big employers expects to stop offering health coverage to workers after insurance exchanges begin operating in 2014 as part of President Barack Obama’s health care overhaul, according to a survey by a major benefits consultant,"  says a Spokesman post. "Towers Watson also found in its July survey that another one in five companies are unsure about what they will do after 2014."  Read more.