WellCare Health Plans Inc is a managed care company engaged in providing government-sponsored managed care services, through Medicaid, Medicare Advantage and Medicare Prescription Drug Plans to families, children, seniors & individuals. The Medicare program provides health care coverage to individuals age 65 or older as well as to individuals with certain disabilities and consists of four parts, labeled A through D. Part A provides hospitalization benefits financed largely through Social Security taxes and requires beneficiaries to pay out-of-pocket deductibles and coinsurance. Part B provides benefits for medically necessary services and supplies including outpatient care, physician services, and home health care. Beneficiaries enrolled in Part B are required to pay monthly premiums and are subject to annual deductibles. Parts A and B are referred to as Original Medicare. Part C benefits are provided through HMOs, preferred provider organizations and private fee-for-service plans. Medicaid provides medical assistance to low-income and disabled persons and is state implemented and operated. Medicaid is funded and regulated by both the state and federal governments. The Company provides services under Children's Health Insurance Program (CHIP) in eight states. In some states, like Hawaii, those beneficiaries are served as a part of the state's Medicaid program. The types of providers in Medicaid and MA CCP contracted networks are: Professionals such as PCPs, provider groups, specialty care physicians, psychologists and licensed social workers Facilities such as hospitals with inpatient, outpatient and emergency services, skilled nursing facilities, outpatient surgical facilities and diagnostic imaging centers; Ancillary providers such as laboratory providers, radiology, home health, physical therapy, speech therapy, occupational therapy, ambulance providers and transportation providers; and Pharmacies, including retail pharmacies, mail order pharmacies and specialty pharmacies. The Company also contracts with other companies who provide access to contracted providers, such as pharmacy, dental, hearing, vision, transportation and mental health benefit managers.
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