Accendo (CVS Health)

Accendo Insurance Company, a subsidiary of CVS Health, was established to provide innovative insurance solutions tailored to meet the needs of older adults. The company was officially launched in 2020, emerging from CVS Health’s broader strategy to enhance its services and product offerings in the healthcare space. This move came as CVS Health aimed to expand its reach in the Medicare market and respond to the increasing demand for specialized healthcare coverage.

Accendo primarily focuses on Medicare-related products, offering Medicare Advantage plans and Medicare Supplement (Medigap) policies. These plans are designed to provide comprehensive coverage for seniors, ensuring they have access to essential healthcare services while minimizing out-of-pocket costs. Accendo emphasizes user-friendly plan options and benefits that cater specifically to the needs of older adults, such as wellness programs and preventive care services.

As part of CVS Health, Accendo benefits from the financial strength and stability of one of the largest integrated healthcare providers in the United States. CVS Health's diversified operations in pharmacy, health services, and retail healthcare provide a solid foundation for Accendo, allowing it to invest in product development and member support initiatives. This backing contributes to Accendo’s credibility and reliability in the insurance market.

Accendo’s entry into the insurance market reflects a broader trend of healthcare companies integrating insurance solutions into their offerings. The company leverages CVS Health's extensive network of pharmacies and clinics to provide a seamless experience for members. This integration allows for innovative care coordination, where insurance coverage and healthcare services are closely aligned.

One notable aspect of Accendo’s approach is its commitment to member engagement. The company employs data analytics and technology to personalize health plans, ensuring that members receive the support and resources most relevant to their individual health needs.

Pros

Comprehensive Medicare Coverage: Accendo offers a range of Medicare Advantage and Supplement plans, providing valuable options for seniors seeking coverage.

Strong Backing from CVS Health: Being part of a major healthcare provider gives Accendo the financial stability and resources to support its operations and members.

Integrated Healthcare Solutions: The connection with CVS Health allows for coordinated care, making it easier for members to access healthcare services alongside their insurance.

Focus on Member Engagement: Accendo utilizes technology and data analytics to create personalized plans and improve member experiences.

Wellness Programs: Many plans include added benefits focused on preventive care and wellness, promoting healthier lifestyles among members.
Competitively priced premiums
Rate guarantee of 12 months for all plans
No waiting period imposed for beneficiaries with pre-existing conditions
In-house customer service
Up to a 14% household discount

Accendo also offers final expense life insurance through Aetna Senior Supplemental Insurance. Headquartered in Nashville, TN, Aetna Senior Supplemental has over 35 years of experience working with over 100,000 licensed agents in the US.

Cons

Limited National Presence: As a newer player in the insurance market, Accendo may not be available in all regions, limiting options for some potential members.


Customer Service Variability: As with many large insurance companies, experiences with customer service may vary, leading to inconsistent member experiences.

Potential Higher Costs: Depending on the specific plan, premiums and out-of-pocket costs may be higher compared to some competitors in the market.

Plan Limitations: Certain plans might have restrictions regarding provider networks or specific services, which could be a drawback for members seeking flexibility.

Accendo Insurance Company represents a strategic move by CVS Health to enhance its offerings in the Medicare space. With a focus on comprehensive coverage, member engagement, and integrated healthcare solutions, Accendo aims to improve the lives of older adults.