Universal American Financial Launches Senior Solutions Triple Option After Heritage Health Acquisition

June 8, 2004

Houston-based Universal American Financial Corp., which provides health and life insurance for seniors, announced it has launched Senior Solutions Triple Option, a comprehensive portfolio of Medicare products that includes Medicare supplement plans, Medicare Select plans, and TexanPlus, a Medicare Advantage plan.

This product line has been made possible by Universal American’s recent acquisition of Houston-based Heritage Health Systems Inc. With the acquisition, Universal American’s subsidiaries, operating under the umbrella of Senior Solutions, will provide one-stop shopping for Medicare beneficiaries looking to find the best health insurance program to fit their needs.

Heritage and its subsidiary, SelectCare of Texas, have been serving Houston and Golden Triangle Medicare beneficiaries since 1995 and now have more than 16,000 members enrolled in its Medicare Advantage program. Even though most of its competitors have exited the Houston and Golden Triangle markets, Heritage and SelectCare have continued to grow, largely based on the close relationships they have created and maintained with the leading provider groups in the area.

Universal American operates several insurance companies throughout the United States that specialize in the sale of health and life insurance products for seniors. Through Pyramid Life and Pennsylvania Life, it operates Senior Solutions Centers in the Houston and Golden Triangle area where seniors can receive objective advice about the Medicare options available to them. Senior Solutions specialists are trained to help individuals review all of these options and find the one that meets their unique needs.

“There are a lot of potentially confusing choices for Medicare beneficiaries, and the goal of our Senior Solutions Centers is to help our customers make the right decisions for their healthcare needs,” said Richard A. Barasch, chairman and CEO of Universal American. “Our highly trained representatives offer a full range of Medicare products and can help a customer select the health insurance program that is most appropriate. While other Medicare plans have left the Houston and Golden Triangle markets, we are pleased to be bringing broader expertise and a greater variety of choice.”

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