Wellchoice
Headquarters:
11 W. 42nd St.
New York, NY 10036
Phone: (212) 476-7800
Employees: 5,500
CEO: Dr. Michael Stocker
Stock Symbol: WC
Website:
http://www.wellchoice.com
Career Site
Wellchoice is the parent company of Empire
Blue Cross Blue Shield, the largest HMO in New York. It serves
over 5 million members including the New York metropolitan area,
parts of upstate New York and 16 counties in New Jersey.
It's the leading HMO in New York City serving about 22% of the
local population.
In 2004, Wellchoice reported revenues of
$5.8 billion and net income of $246 million.
Originally a non-profit organization, Wellchoice
converted to a for-profit company and was incorporated in 2002.
It went public on the New York Stock Exchange in 2002 to get
access to more capital for potential acquisitions.
Wellchoice has 9 office locations: 8 are
in New York state and one location in Harrisburg, PA.
The company in September agreed to be acquired
by WellPoint of Indianapolis for $6.5 billion. The merged company
will be the largest health insurance firm in the nation and serve
33 million members.
Benefits
Wellchoice offers medical, dental and life
insurance coverage. There is also a 401(k) and pension plan provided
by the company.
Employees receive an annual bonus known
as "success sharing" depending on whether the company
and units meet revenue and service goals. For most employees,
the bonus ranges from $500-$1,000.
Employees get sick leave as needed. New
hires receive 2 weeks of paid vacation and 2 days for personal
use. Workers who have been with the company for 5 years get 3
weeks vacation and over 10 years receive 4 weeks. Employees can
purchase an additional week of vacation which is deducted from
each paycheck over the course of the year.
Updated September 28, 2005
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