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Principal vs. Competition February 13, 2014 VSP Proprietary & Confidential.

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Presentation on theme: "Principal vs. Competition February 13, 2014 VSP Proprietary & Confidential."— Presentation transcript:

1 Principal vs. Competition February 13, 2014 VSP Proprietary & Confidential

2 Agenda Competitors – Avesis – Block Vision – Davis Vision – EyeMed – Humana – Superior Vision – United Healthcare

3 Avesis founded as NVS (National Vision Services) 5,500 groups - 3.5M members 25,000 providers, or 30,000 – 68% - Independent optometrists and ophthalmologists – 32% - Retail Office locations: AZ, GA, IA, IN, MA, MD, MN, TX Underwritten by National Guardian Life Insurance Co A.M. Best Rating: A-

4 Block Vision Just over 20 years HQ in Linthicum, Maryland Announced merger with Superior in July, 2013 – Completed in December, 2013 Very big with Texas School Districts

5 Davis Vision Founded in 1964 (Davis Optical) incorporated as Davis Vision in – In 1996 became a wholly owned subsidiary of Highmark, Inc. Underwritten by HM Life Insurance Company & HM Life Insurance Company of NY Private Practice and Retail – 16,800 Locations – 40,000 Access points In 2012, began switching retail stores to a single name: VisionWorks – (Vision World, Eye Care Centers of America, EyeMasters, For Eyes Optical, Sight for Sore Eyes, Binyons, Empire…etc…)

6 EyeMed – A Brief History 1988 – Founded under the name LensCrafters Vision Care Management Systems Luxottica purchased LensCrafters Expanded to include independent ophthalmologists, optometrists and opticians Purchased First American Health Concepts (Eye Care Plan of America) Integrated with Cole Managed Vision as part of Luxottica Group’s acquisition of Cleveland-based Cole National. Increased members access to more optical retailers, including Pearle Vision, Sears Optical, Target Optical and JCPenney Optical.

7 EyeMed AKA: Aetna, Anthem Blue View, (some) Delta, et al 26,000 Locations – 31,300 Unique Providers – 64,500 Access Points 35M Members (160M includes discount plans) 300 CSRs – 2 weeks training Currently four Networks, Access, Select, Insight & Advantage New Business Model effective 2014 – Select Network going away

8 HumanaVision CompBenefits began selling vision plans in Florida as VCP of Florida. In 2007, CompBenefits was purchased by Humana – 22,500 Providers Humana joined EyeMed's retail chains network in 2011.

9 HumanaVision “Powered by EyeMed “ – 35,000 providers at 20,000 locations Three distinct plans: – Advantage (Discount) – Focus ($10/$25 with $100 RFA & $115 ECL) – Optimum ($10/$25 with $130 RFA & $130 ECL) Not “Powered by EyeMed” VERY Similar to VSP Signature

10 Superior Vision Announced a merger with Block Vision in July – Finalized in December, 2013 – Effective 09/09/ named Brian Silverberg CFO Previously with EyeMed Network: Mix of Private Practice and Retail – not all locations are full service Not all Providers accept their discount pricing Over 23,000 Providers & Locations – 46,000 Access Points 14% Ophthalmologists 23% Opticians/Chains 63% Optometrists

11 United Healthcare Vision Network: 50/50 mix of Private Practice and Retail – not all locations are full service (22%) Not all Providers accept their discount pricing 100+ National Retail Chains 37,000 Access Points 10% Ophthalmologists 90% Optometrists


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