This week we are reading about Medicare coverage and costs related to COVID-19 testing and treatment, Integrity Marketing Group’s new partnership, Amerilife’s completion of recapitalization agreement, and Essence Healthcare’s acquisition of Mutual of Omaha’s Medicare Advantage Business.
FAQs on Medicare Coverage and Costs Related to COVID-19 Testing and Treatment | KFF | March 19, 2020
More than 60 million people ages 65 and older and younger adults with long-term disabilities are covered by Medicare. Due to their older age and higher likelihood of having serious medical conditions than younger adults, virtually all Medicare beneficiaries are at greater risk of becoming seriously ill if they are infected with the new coronavirus that causes COVID-19. Diagnosis of COVID-19 is confirmed through testing, and treatment varies based on the severity of illness. These FAQs review current policies for Medicare coverage and costs associated with testing and treatment for COVID-19.
Integrity Marketing Group Grows Partner Network with Acquisition of Killimett Agency and FFL Southeast | Yahoo! Finance | March 19, 2020
Integrity Marketing Group, LLC (“Integrity”), today announced the acquisition of Killimett Agency (“FFL Southeast”), an insurance marketing organization located in Marietta, Georgia. As part of the transaction, Mike Killimett, President of FFL Southeast, will become an Owner in Integrity. Financial terms of the partnership were not disclosed.
FFL Southeast has been helping Americans protect their families through insurance products and annuities for more than 10 years. In 2020, FFL Southeast expects to produce more than $70 million of annualized paid premium in the mortgage protection, final expense and annuity markets while serving more than 35,000 Americans annually.
AmeriLife, with Thomas H. Lee Partners, Announces Completion of Recapitalization Agreement | PR Newswire | March 19, 2020
AmeriLife Group, LLC (“AmeriLife” or the “Company”), the national leader in marketing and distributing life, health, and retirement solutions, today announced completion of the previously announced recapitalization agreement. The investor group was led by Thomas H. Lee Partners, L.P. (“THL”), a premier private equity firm investing in growth companies, and other investors, including Cannae Holdings, Inc. and certain THL limited partners, effective March 18, 2020. THL acquired a majority stake from J.C. Flowers & Co., LLC (“J.C. Flowers”), a leading private investment firm dedicated to investing globally in the financial services industry, and other investors.
As part of the transaction and effective immediately, the Board of Directors under J.C. Flowers retires, including the chairman, Timothy O. North. North provided decades of leadership and innovation for the company, including as the CEO until his retirement in January 2017, and then as Chairman of the Board of Directors. Scott R. Perry now assumes the role of both Chairman of the Board of Directors and CEO of AmeriLife.
Essence Healthcare and Mutual of Omaha Reach Agreement in Principle for Essence to Acquire Mutual of Omaha’s Medicare Advantage Business | Business Wire | February 24, 2020
Essence Healthcare, sister company of Lumeris, has reached an agreement in principle to acquire Mutual of Omaha Medicare Advantage Company (MOMAC) and Medicare Advantage Company of Omaha (MAICO). The Mutual of Omaha subsidiaries own Medicare Advantage businesses in the Cincinnati, San Antonio, Dallas, Denver and El Paso markets. MOMAC and MAICO’s Medicare Advantage plans are currently operated by Lumeris, and Lumeris will continue to operate the plans after the transaction is completed, avoiding any disruption for plan members or providers.