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CompCare launches subsidiary

January 27, 2011
by News release
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Tampa, Fla. — Comprehensive Care Corp. (CompCare), a provider of behavioral health, substance abuse and employee assistance programs for governmental agencies, managed care companies and employer groups, has announced the launch of a line of ancillary products through a new wholly-owned subsidiary, Comprehensive Care Benefits, Inc. (CCB).

The new CCB ancillary product line was formed to include both proprietary and non-proprietary products, including: insured and discounted health plans, such as dental and vision; life insurance plans; discounted behavioral healthcare programs; estate planning and property and casualty insurance. CCB will market the products through three primary channels—directly to CompCare’s existing customer base; self insured groups such as business-to-business, including unions and hotels; and directly to consumers.

Robert Siegel has been appointed CCB president, coming to CompCare with over 22 years of experience as a leading sales and marketing executive in the insurance industry. Throughout his career, Siegel has founded, built and transformed a number of insurance companies including BAI Associates and Employee Choice Benefits in partnership with AIG. Most recently he created a partnership between MetLife PPO Dental in Colorado and the state's leading DHMO provider, Beta Dental.

According to Siegel, this launch puts CompCare in an excellent position for growth, offering a product line that is synergistic with the parent company’s core products.

"This provides CCB with a unique opportunity to cross-market its offerings to CompCare’s existing customer base of approximately 1 million members and its 19 HMO clients," he said. "I am confident that through cross-pollination to CompCare’s existing customer base, sales to uninsured businesses, unions and associations and sales directly to consumers, CompCare will be able to increase its overall margins while strengthening its total sales platform as well as its relationship to its existing customers by introducing them to a more extensive network of commercial brokers and better servicing their needs." Clark A. Marcus, CompCare’s Chairman and CEO, expressed his confidence that Siegel's deep industry knowledge and vast leadership experience will help CCB to successfully meet its goals for growth.

"The launch of CCB and its ancillary products is a project we have had in the making for more than a year and marks a significant milestone in our company’s growth strategy," said Marcus. "The line of products offered through CCB will provide CompCare with substantially higher margins and superior brokerage services for our clients. The addition of these services will also offer added value to our existing and future customers by meeting more of their needs.”

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