MVP Health Plan covers about 650,000 most valuable people. Also known as MVP Health Care, the company provides health insurance and employee benefits to its members in upstate New York, New Hampshire, and Vermont. MVP, a not-for-profit organization, offers a variety of plans including HMO, PPO, and indemnity coverage, as well as dental plans and Medicare Advantage plans. Subsidiary MVP Select Care provided third party administration (TPA) services for self-insured employers. MVP Health Plan was founded in 1983 as Mohawk Valley Physicians' Health Plan.
MVP Health Plan operates regional service and support offices across New York, Vermont, and New Hampshire. Its provider network includes 19,000 doctors in its three-state service territory; the firm also provides its members with access to about 500,000 providers in other states through a partnership with CIGNA.
MVP Health Plan reported revenues of $2.9 billion in both 2010 and 2011. The company reported a surplus of $32.7 million in 2011, down from $40.1 million in 2010.
In addition to acquiring other area providers, MVP Health Plan widens its product offerings to attract a diversified customer base, adding new options for non-employer related individual and high-deductible plan options, as well as new small employer group products and access to flexible spending accounts.
Mergers and Acquisitions
MVP Health Care expanded into upstate New York with the acquisition of Preferred Care in 2006, gaining a leading position in that market as well. The organization further cemented its position in New York in 2009 by acquiring Rochester Area Health Maintenance Organization. Both Preferred Care and Rochester HMO were gradually integrated and now operate under the MVP Health Care brand. – less