WellPoint Chairman and CEO Leonard Schaeffer Joins President Bush to Announce Prescription Drug...

Business Editors & Health/Medical Writers

THOUSAND OAKS, Calif.--(BUSINESS WIRE)--July 12, 2001

Leonard D. Schaeffer, chairman and chief executive officer of WellPoint Health Networks Inc. (NYSE:WLP), joined President Bush and Health and Human Services Secretary Tommy Thompson

Center for Medicare and Medicaid Services (formerly Health Care Financing Administration) leader Thomas A. Scully also joined Schaeffer at the Rose Garden ceremony.

Schaeffer expressed WellPoint's support of the concepts in the President's Prescription Drug Card Plan. "The leadership exhibited by the Administration is reflected in the plan's goals and timetables. WellPoint looks forward to working with Administration officials to help develop a plan that will make prescription medications more affordable to seniors across the country," said Schaeffer.

WellPoint operates the nation's fourth-largest pharmacy benefit management (PBM) company. With approximately 30 million members, WellPoint Pharmacy Management is the largest health plan-owned PBM in the country.

WellPoint Pharmacy Management is the trade name of Professional Claim Services Inc., a wholly owned subsidiary of WellPoint Health Networks Inc. With complete pharmacy benefit management services for employers and health plans nationwide, WellPoint Pharmacy Management's products include clinical management programs, drug formulary management, claims processing, benefit design consultation, pharmacy network management, local network contract development, manufacturer discount programs, prescription drug databases and utilization management.

WellPoint serves the health care needs of nearly 9.8 million medical and more than 40 million specialty members nationwide through Blue Cross of California in California, through Blue Cross and Blue Shield of Georgia in Georgia and through UNICARE in other parts of the country. WellPoint offers a broad spectrum of quality network-based health products including open access PPO, POS and hybrid products, HMO and specialty products.

Specialty products include pharmacy benefit management, dental, utilization management, vision, mental health, life and disability insurance, long term care insurance, flexible spending accounts, COBRA administration and Medicare supplements.