January 2019 onwards, Mutual of Omaha in alliance with Lumeric Inc started selling the Medicare advantage plans. This multi-year agreement is made anticipating the rise in the requirement of Medicare Advantage Plans comparative to the Medicare Supplement Enrollments. Under this agreement, the Omaha will carry the brand name of Mutual offering marketing and distribution expertise, capital and of course it’s brand value while the Lumeris will partner for the arrangement of the network of service providers and the management of this array for the plans. These Medicare advantage plans will be more in demand owing to its traditional coverage and other benefits for recipients. The Mutual of Omaha, who are selling supplement Medicare policies since 1996, now steps into the arena of Medicare Advantage market. The Medicare Advantage Plans are offered by the private companies and tend to have comprehensive benefits for the consumers.
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Mike Long, the chairman and CEO of Lumerics said: “Our new initiative with Mutual of Omaha is exciting because it enables both of our companies to build our successes while remaining laser-focused on what matters most – delivering the highest quality care to seniors”. Lumeric Inc is a 10-year-old Company based in St. Louis, competent of setting networks of providers of value-based care, pillared on medical outcomes instead of service fees. The consumers will be offered less number of service providers to choose from but they will be qualitative. This management will narrow down the number of service providers including physicians. doctors and hospitals but will lead to enhancement of efficiency in professional services ensuring wellness. This unique model will ensure considerably good patient experience on the whole healthcare value delivery system. These plans will also offer prescription drug coverage in limited cities initially and later on a nationwide scale. The Lumerics are yet to furnish the statistics of the metropolitan areas where these Medicare Advantage plans will compete for market share.
“We are confident that our collaboration with Lumeris will lead to better health outcomes for our Medicare Advantage Customers,” said the Chairman and CEO of The Mutual of Omaha, Lames Blackledge. He will join the board of directors of Lumeric Inc. The executives from both business firms will form the committee to look after the project which is expected to make a mark in the market given its focus on enriched customer experience, cost-effectiveness, aligning the interests of service providers and better health outcomes.