Alyssa Lane
Wisconsin Physicians Service (WPS) is a health solutions company that provides supplement insurance plans in Wisconsin, Florida, Illinois, and Ohio. WPS is a not-for-profit corporation that offers health insurance for groups and individuals, including Medicare and Medigap plans. The company was formed in 1946 by the Wisconsin Medical Society to provide affordable health insurance to returning soldiers from World War II. WPS has since expanded its offerings to include life and disability insurance through its subsidiary, EPIC Specialty Benefits. With a commitment to caring for those they serve, WPS relentlessly pursues health solutions and value for its customers.
Explore related products
What You'll Learn
WPS is a health solutions company
WPS, a health solutions company, is an independent, not-for-profit organisation based in Madison, Wisconsin. It was formed in 1946 by the Wisconsin Medical Society to provide affordable health insurance to returning soldiers from World War II, many of whom had sustained injuries.
WPS has since expanded its services across Wisconsin and beyond, with sales offices in Kenosha, Green Bay, Eau Claire, Milwaukee, Wausau, Appleton, and La Crosse. In 1977, WPS became an independent corporation, separate from the Wisconsin Medical Society, to comply with state legislation.
As a health solutions company, WPS offers health insurance plans, including Medicare supplement insurance (known as Medigap), to individuals and groups. They have developed specific plans for their customers, such as the Century Plan for those aged 65 and older, and a Medicare PLUS supplement plan, now known as WPS Medicare Companion. WPS is the Medicare administrator for Wisconsin and certain other states in the US.
In addition to health insurance, WPS has diversified its offerings over the years. It created The EPIC Life Insurance Company in 1984, which was later renamed EPIC Specialty Benefits in 2015, offering term life insurance, disability insurance, and other benefits. WPS has also formed partnerships and subsidiaries, such as Aspirus Arise Health Plan of Wisconsin, Inc., to sell health plans in various counties.
WPS is committed to caring for those it serves and exploring innovative ways to bring value to their lives. The WPS Charitable Foundation supports initiatives related to dignity in aging, improving veterans' mental health, and promoting educational access for all.
Term Life Insurance: Cashing Out and Claiming Your Benefits
You may want to see also
Explore related products
WPS Medicare and supplement insurance plans
WPS, or Wisconsin Physicians Service, is a health solutions company that provides health insurance and benefit plan administration. WPS was formed in 1946 by the Wisconsin Medical Society to provide affordable health insurance to returning soldiers after World War II. In 1977, WPS became an independent, not-for-profit corporation.
WPS offers Medicare and supplement insurance plans, also known as Medigap, to help cover the out-of-pocket costs of Original Medicare (Parts A and B). These plans are "guaranteed renewable," meaning that as long as the premium is paid, the coverage cannot be cancelled by the insurance company. The premiums for these plans vary by company and can change multiple times a year. WPS rates increase only once a year.
The main goal of a Medicare supplement insurance plan is to help cover the costs that Medicare does not, which is typically around 20%. WPS offers a range of services with their Medicare supplement insurance plans, including travel emergency coverage of up to $100,000. Additionally, WPS provides a 7% household discount when two or more individuals in the same dwelling have WPS Medicare supplement coverage. However, it is important to note that Medicare supplement plans typically do not cover routine dental, vision, or hearing care, or prescription drugs.
WPS also offers free webinars and one-on-one guidance to help individuals understand their Medicare options and choose the best plan for their specific medical and financial needs. These plans can be discussed with a licensed WPS agent or a local agent.
Genetic Testing: Insurance Coverage and Life Insurance Applications
You may want to see also
Explore related products
WPS history and brand refresh
WPS, a health solutions company, is an independent, not-for-profit, local partner based in Madison, Wisconsin. It was formed by the Wisconsin Medical Society in 1946 to meet the need for affordable health insurance for returning soldiers after World War II. Over 300,000 soldiers returned to Wisconsin, 13,000 of whom were wounded. WPS remained a division of the Wisconsin Medical Society until 1977 when it became separately incorporated as a not-for-profit service insurance corporation.
In the 1960s, WPS developed its Century Plan for customers aged 65 and older and a Medicare PLUS supplement plan, now known as WPS Medicare Companion. In 1966, WPS was named the Medicare administrator for Wisconsin. In 1975, the Wisconsin legislature passed a law requiring that service insurance corporations be legally separate from their parent professional society. WPS complied and became independent in 1977.
In 1984, WPS created The EPIC Life Insurance Company (renamed EPIC Specialty Benefits in 2015) to sell and administer life and disability insurance. In 2005, WPS purchased the assets of Prevea Health Plan and formed a new subsidiary, which was renamed Arise Health Plan in 2006. In 2016, WPS announced a partnership with Aspirus, forming Aspirus Arise Health Plan of Wisconsin, Inc., a health insurance company.
WPS has recently undergone a brand refresh to modernise its image and support its growth goals. The logo, colours, typefaces, and other visual elements have been updated to help WPS stand out from competitors. The brand refresh also unifies all WPS lines of business under the name WPS, a health solutions company.
Essential Items for Your Life Insurance Licensing Exam
You may want to see also
Explore related products
WPS Charitable Foundation
WPS Health Insurance, or Wisconsin Physicians Service, is an independent, not-for-profit, local partner based in Madison, Wisconsin. It was formed in 1946 by the Wisconsin Medical Society to provide affordable health insurance to returning soldiers from World War II, many of whom had sustained wounds. WPS became an independent corporation in 1977 and has since expanded its services to include Medicare, TRICARE, and health insurance plans for millions of private and government members.
The WPS Charitable Foundation is a reflection of WPS's commitment to its community. The foundation seeks to provide financial support in three key areas:
- Dignity in Aging: This includes supporting equipment purchases and professional development for public safety response agencies, as well as energy efficiency projects for Habitat for Humanity organizations.
- Improving Veterans' Mental Health: WPS recognizes the importance of mental health support for veterans and actively contributes to initiatives aimed at enhancing their well-being.
- Educational Access for All: The foundation offers scholarships to students in its service areas, promoting educational opportunities for all.
The WPS Charitable Foundation, through its donations to 27 charitable organizations and scholarship payments benefiting 28 students, exemplifies WPS's dedication to making a meaningful impact in its community. It actively seeks out opportunities to support initiatives that align with its values, ensuring that its support reaches those who need it most.
Calculating Life Insurance Present Value: A Simple Guide
You may want to see also
Explore related products
WPS and Wisconsin Physicians Service
Wisconsin Physicians Service (WPS) is a health solutions company that offers health insurance and benefit plan administration. It is an independent, not-for-profit organisation based in Madison, Wisconsin, and was formed in 1946 by the Wisconsin Medical Society to provide affordable health insurance to returning soldiers from World War II.
WPS provides supplement insurance plans, including Medicare and Medigap, in Wisconsin, Florida, Illinois, and Ohio. The costs of these plans vary depending on factors such as age, location, and coverage choices. WPS also offers discounts for households with multiple policyholders and for those who pay premiums through automatic bank withdrawals.
In addition to its insurance business, WPS has expanded its services over the years. It created The EPIC Life Insurance Company in 1984, which was later renamed EPIC Specialty Benefits and offers life insurance, disability insurance, and other benefits. WPS also ventured into the banking industry with WPS Bank, which was later sold in 2015.
WPS has a strong presence across Wisconsin, with offices in multiple cities, including Kenosha, Green Bay, Eau Claire, Milwaukee, and Madison, where it is headquartered. The company is committed to serving its community and has supported various causes through the WPS Charitable Foundation, focusing on dignity in aging, improving veterans' mental health, and promoting educational access for all.
WPS has undergone a brand refresh to modernise its image and differentiate itself from competitors. While the company's commitment to its customers remains unchanged, WPS has updated its logo and visual elements to create a unique brand identity.
Group Life Insurance: Myths and Facts About Coverage
You may want to see also
Frequently asked questions
Wisconsin Physicians Service (WPS) is a health solutions company that provides supplement insurance plans, including Medicare and Medigap, in Wisconsin, Florida, Illinois, and Ohio.
Wisconsin Physicians Service (WPS) was formed by the Wisconsin Medical Society in 1946 to provide affordable health insurance to returning soldiers from World War II. In 1977, WPS became an independent, not-for-profit corporation.
WPS offers a variety of insurance plans, including Medicare supplement plans, Medigap plans, and health insurance plans for groups and individuals. They also have a subsidiary, EPIC Specialty Benefits, that offers term life insurance, disability insurance, dental and vision insurance, and voluntary benefits.
You can enroll in a WPS insurance plan by visiting their website or contacting a licensed insurance agent. For Medigap plans, you can use the online Medigap plan finder to check prices and enroll during the Open Enrollment Period (OEP) to avoid additional difficulties and costs.
