A premium dollar
We’re passionate about being good stewards of your health care premium dollar. We work continuously to minimize unnecessary costs to maximize coverage for our members.
Each premium dollar that Wellmark receives is used to pay for various expenses and are outlined here.
85.7¢ — Over 85% of premium dollars go to doctors, hospitals and pharmacists
10.7¢ — Administrative expenses
2.2¢ — Government fees and taxes
1.4¢ — Earnings from premiums
Source: Wellmark, Inc. 2013 - 2017 Fully Insured Business1
1 The Benefit Expense Ratio reported here varies from the Medical Loss Ratio (MLR) calculation prepared for rebate purposes as outlined in the Patient Protection and Affordable Care Act.
Accreditation & ratings
We set and exceed the highest standards for our business and ourselves. Others agree.
Wellmark Health Plan of Iowa, Inc. - Commendable status
Wellmark Blue Cross and Blue Shield of Iowa - Accredited status
Wellmark Blue Cross and Blue Shield of South Dakota - Accredited status
Diversity and inclusion
We are all different. And we like that.
Recognizing, respecting, and maximizing our differences provides Wellmark a competitive advantage. The diversity of experience, ideas, cultures, and beliefs drives us to achieve and creates an environment of innovation, connectivity and commitment. Inclusion is part of our core values—vital to our business and long-term success.
Our CEO and Chairman John Forsyth has been nationally recognized for his commitment to diversity. Here’s what Mr. Forsyth says about inclusion at Wellmark:
“At Wellmark, diversity and inclusion are fundamental to who we are and what we do. Investing in an inclusive workforce and workplace garners innovation, connectivity, and commitment. Combining diversity with inclusion is essential to reaching our potential as a company.
We are all different, so recognizing, respecting, and maximizing these differences provides us a significant competitive advantage in the marketplace.”
Our success continues to depend on our ability to reduce costs, provide better service to our members, providers and stakeholders, and develop new products and services. Diverse suppliers play a key role in helping us achieve these goals.
The purpose of supplier diversity is to identify and encourage fair opportunities for qualified firms. Wellmark works to include a variety of vendors in every bidding opportunity, through direct business or subcontracting arrangements. Diverse classifications currently being tracked and supported by Wellmark include:
- Minority business enterprises
- Woman-owned business enterprises
- Disabled-owned business enterprises
- Historically underutilized business zones
- Veteran-owned business
- Disabled veteran-owned business
- Small-disadvantaged business
- Small business
- Gay, lesbian, bisexual, transgender-owned businesses
Wellmark recognizes certifications granted by one or more of the following agencies:
- National Minority Supplier Development Council (NMSDC)
- Women's Business Enterprise National Council (WBENC)
- Federal, state or local governmental agencies
All suppliers interested in doing business with Wellmark must submit a copy of their certification.