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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 1978 - 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 1991. – 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. 1995 - Luxottica purchased LensCrafters 1999 - Expanded to include independent ophthalmologists, optometrists and opticians. 2001 - Purchased First American Health Concepts (Eye Care Plan of America). 2004 - 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 09/09/2013 - 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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