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Simply put, our No. 1 focus is to keep health insurance costs affordable by effectively managing medical and administrative costs. Some of our strategies to achieve that goal are frankly unprecedented in the health insurance industry:
- Wellmark is a mutual insurance company with roots as a non-profit organization. Without shareholders to answer to, our goal isn’t to make a lot of money; it’s to provide the best value possible to our policyholders.
- We have among the lowest per-member per-month administrative costs in the industry.
- We are committed to transforming the health care system in Iowa and South Dakota. By 2014 we intend to create a sustainable health care system in which the annual increase in health care costs does not exceed the percent change in the Consumer Price Index (CPI).
- Our Lean and Green initiative is designed to reduce our already low administrative expenses by improving processes to attain greater efficiencies and reduce waste—and be eco-friendly at the same time.
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