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.
84.6¢ — More than 84% of premium dollars go to doctors, hospitals and pharmacists
9.9¢ — Administrative expenses
1.9¢ — Government fees and taxes
3.6¢ — Earnings from premiums
Source: Wellmark, Inc. 2016 - 2020 Fully Insured Business
Accreditation & ratings
We set and exceed the highest standards for our business and ourselves. Others agree.
NCQA is a private, nonprofit organization dedicated to improving health care quality. NCQA accredits and certifies a wide range of health care organizations and recognizes clinicians in key clinical areas. NCQA'’s HEDIS® is the most widely used performance measurement tool in health care. NCQA's website External Link contains information to help consumers, employers and others make informed health care choices. NCQA awards health plans with a status of Accredited, Provisional, Interim, or Denied based on the health plans performance of the NCQA standards, and a "star" rating (0-5 stars) based on clinical quality measures and member survey results. NCQA's Health Plan Ratings 2021 for each of Wellmark's accredited plans are:
- Wellmark Health Plan of Iowa (Commercial) - Accredited with 4.5 out of 5 stars
- Wellmark Blue Cross and Blue Shield of South Dakota - Accredited with 4 out of 5 stars
- Wellmark Blue Cross and Blue Shield of Iowa - Accredited with 3.5 out of 5 stars
- Wellmark Health Plan of Iowa (Exchange) - Accredited (no star rating assigned for this population)
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 President Cory Harris has been nationally recognized for his commitment to diversity. Here’s what Cory says about inclusion at Wellmark:
"As the leading health insurance company in Iowa and South Dakota, our stakeholders and our communities are counting on us to listen, educate, learn, protect, show up and speak up.
Our diverse workforce and our culture of inclusion lets us collectively accomplish amazing things that none of us could do alone. These core values create a culture where differences are appreciated, allowing each of us to use our unique strengths to serve our members and improve people's lives.
We are a unified team committed to preserving, protecting, and continuously improving the culture of our company."
Employees are invited to apply to serve on our Inclusion Council to lead organizational diversity and inclusion initiatives within our company and throughout our communities.
Wellmark received the following awards for diversity and inclusion in 2019 and 2020.
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.