Wisconsin Physicians Service Insurance (WPS) ensures coverage for Wisconsin residents and employers. The not-for-profit company provides managed care plans and related services to its members under the WPS Health Insurance and Arise Health Plan brands. Group, family, and individual offerings include HMO, PPO, and high-deductible plans. WPS also administers the policies of supplemental Medicare (Part A and Part B) members across the US, as well as western region TRICARE for Life (dental and pharmacy benefit) members. Subsidiary EPIC Life Insurance provides ancillary product including life, disability, dental, and vision plans, while WPS Bank offers banking and finance services in Wisconsin.
WPS's network includes some 15,000 health care providers and 140 hospitals statewide, supported by regional offices across Wisconsin (located in Eau Claire, Green Bay, Madison, Milwaukee, and Wausau). The Aries Health Plan unit is based in Green Bay and focuses on markets in eastern and north-central Wisconsin. The company has additional administrative offices for its Medicare and TRICARE operations in other states as well.
WPS offers managed health plans and TRICARE and Medicaid contracts.
WPS administers Part A and Part B Medicare programs, providing pharmacy benefits and supplemental coverage for traditional Medicare plans. Altogether, it administers claims for about 10 million Medicare members per year.
The company's Arise Health Plan, based in Green Bay, offers HMO and point-of-service plans to the group and individual markets in eastern and north-central Wisconsin.
WPS' smaller banking division provides banking for individuals and small to midsized businesses in Wisconsin. It also offers mortgage loans, business loans, and commercial real estate loans.
In 2013 WPS' TRICARE division won three Veteran's Administration subcontracts to administer benefits for nearly half the eligible veterans in the US. The subcontracts are for TriWest Healthcare Alliance’s Department of Veterans Affairs contracts in 28 states, including Alabama, Alaska, Arizona, Arkansas, California, Colorado, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Montana, Nevada, New Mexico, Ohio, Oklahoma, Oregon, Tennessee, Texas, Virginia, Washington, and West Virginia, as well as American Samoa, Guam and the Northern Mariana Islands.
In addition, in 2013 the company expanded by opening a WPS Health and Wellness Center through a partnership with employer-sponsored care provider QuadMed.
That year Arise Health Plan began offering insurance plans in 26 Wisconsin counties on Wisconsin’s Health Insurance Marketplace as part of the Affordable Care Act.
In 2012 the Department of Defense announced that it wouldn't renew its TRICARE contract (which covers about 5 million members), and the company began to prepare for the change through cost control efforts. Though it lost the contract for TRICARE medical plan members, it continues to administer the TRICARE for Life program, which provides dental and pharmacy benefits in the region.
As a result of the TRICARE changes, WPS downsizedthe operations at its office in Wausau, Wisconsin. The company is also looking to expand in the commercial insurance market to replace the income that was lost with the DOD TRICARE contract. To boost customer loyalty, WPS Health Insurance launched a rate guarantee program for individuals and families in 2012 to relieve uncertainty over potential future rate changes.
WPS Health Insurance was established by the Wisconsin State Medical Society in 1946.