Cobalt Corporation

As of September 24, 2003, Cobalt Corporation was acquired by WellPoint Health Networks, Inc. Cobalt Corporation, a managed care company, offers a diverse portfolio of insurance, managed care products, and administrative services to employers, individuals, and government entities. It operates in four segments: insured medical products; specialty managed care products and services; government services; and self-funded products. Insured medical products include full coverage, copayment, preferred provider organization, Medicare supplement, interim coverage, health maintenance organization, and point of service products sold primarily in Wisconsin. Specialty managed care products and services include dental, life, disability, and workers' compensation products, along with managed care consulting, electronic claim submission services, subrogation and hospital bill audit services, and receivables management services. These products and services are sold throughout the United States. Government services include Medicare claim processing and other services provided under contracts with the federal government throughout the United States; Medicaid processing, audit, and reimbursement services in the states of Wisconsin, West Virginia, and Hawaii; and program integrity, consulting, and safeguard services in connection with publicly funded health programs. Self-funded products consist of administrative services, and access to Cobalt's provider networks for uninsured contracts and the BlueCard Program. Its competitors include Humana, Inc.; UnitedHealthcare Insurance Company; Dean Health Plan; and Physicians Plus. The company was founded in 1985 and is based in Milwaukee, Wisconsin.