Mutual of Omaha will sell off its group health-insurance business in a 120-million-dollar deal. Mutual spokesman Jim Nolan says the policies are being sold to Coventry Health Care, which will handle the employer health-plan accounts for workers in Iowa and Nebraska.
If you have Mutual of Omaha health insurance through your employer, Nolan says you can still use the same I.D. card, call the same phone numbers, visit the same doctors you’ve used in the coverage network. Clients outside this region will no longer be covered once their policies expire, a change Nolan says will affect about 100,000 customers in Atlanta, Chicago, Dallas, Denver, Kansas City, Los Angeles and Seattle.
Policies they’ve written for clients outside these two states will not be renewed. Nolan says that’s a process that could take up to a year and a half. Conventry Health Care, based in Bethesda, Maryland, will offer jobs at its Omaha area office to about 400 Mutual employees who’ve managed these accounts up to now.
The sale will affect about 100,000 Nebraska and Iowa workers covered by group health plans through their employers, and about 115,000 members of Mutual’s Federal Employees Health Benefits in the two states. The deal’s expected to close in two to four months.