Martin’s Point Health Care has received a roughly $6 billion government contract designed to provide health care benefits for military retirees and family members of active-duty military.

Martin’s Point, which is headquartered in Portland, is one of six providers in the country to administer the Uniformed Services Family Health Plan. It has participated in the program since 1996.

Steve Amendo, chief marketing and communications officer for Martin’s Point, could not confirm the overall value of the contract as reimbursement rates are negotiated annually, but the Department of Defense health agency estimates the value at just over $6 billion. Amendo did not say how much the previous contract was worth but said the new contract price “is consistent with the growing costs associated with health care services and with administering these benefits today and into the future.”

Despite the staggering figure, Amendo said, Martin’s Point already has the necessary staffing and infrastructure in place to meet the need.

“As we look across the 10-year period that is subject to change and we are positioned to adjust accordingly,” he said.

The 10-year contract was effective Oct. 1 and allows the health care organization to cover members in Maine, New Hampshire, Vermont, upstate New York and parts of Pennsylvania and Ohio.

“As a community-based, not-for-profit organization, it has been an honor and privilege to provide health care benefits to family members of those currently serving and those who have served our country over the years,” Amendo said.

Copy the Story Link

« Previous

U.S. consumers keep spending despite high prices and their own gloomy outlook. Can it last?

Next »

Surge in interest rates, cloudier economic picture to keep Federal Reserve on sidelines