Triple-S Management Corp

(NYSE: GTS)

Industry: Health Care Providers
On the web: http://www.triplesmanagement.com
Employees: 2,269

Triple-S Management Corporation or TSM was incorporated under the laws of the Commonwealth of Puerto Rico on January 17, 1997 to engage, among other things, as the holding company of entities primarily involved in the insurance industry. TSM is the managed care company in Puerto Rico, serving approximately one million members across all regions. The Company has the right to use the Blue Shield name and mark throughout Puerto Rico and 50 years of experience in the managed care industry. TSM offers a portfolio of managed care and related products in the commercial, Medicare and Puerto Rico Health Reform markets. TSM serves a full range of customer segments, from corporate accounts, federal and local government Employees and individuals to Medicare recipients and Reform enrollees, with a range of managed care products. The Company markets its managed care products through both network of independent agents and brokers located throughout Puerto Rico as well as an internal salaried sales force. TSM also offers complementary products and services, including life insurance, accident and disability insurance and property and casualty insurance. TSM offers a range of managed care products, including HMOs, PPOs, Medicare Supplement, Medicare Advantage and Medicare Part D. The Company offers HMO plans that provide its Reform and Medicare Advantage members with health care coverage for a fixed monthly premium in addition to applicable member co-payments. TSM offers PPO managed care plans that provide its commercial and Medicare Advantage members and their dependent family members with health care coverage in exchange for a fixed monthly premium from its member or the member's Employer. For the Company's members who purchase its PPO and some of its Medicare Advantage products, it offers the BlueCard program. The BlueCard program offers these members in-network benefits through the networks of the other BCBS plans in the United States and certain U.S. territories. In addition, the BlueCard worldwide program provides the Company's PPO members with coverage for medical assistance worldwide. TSM offers Medicare Supplement products, which provide supplemental coverage for many of the medical expenses that the Medicare Parts A and B programs does not cover, such as deductibles, coinsurance and specified losses that exceed the Federal program's maximum benefits. The Company served as fiscal intermediary for the Medicare Part B program in Puerto Rico and the U.S. Virgin Islands, for which it received reimbursement of all direct costs and allocated overhead expenses, based on an approved budget by the Centers for Medicare and Medicare Services of the U.S. Department of Health and Human Services, until February 28, 2009. In addition to the Company's fully insured plans, it also offers its PPO products on a self-funded or ASO basis, under which it provides claims processing and other administrative services to Employers. TSM offers a variety of life, accident and health and annuity products to all markets in Puerto Rico through its subsidiary Triple-S Vida, Inc. Among these are group life and individual life insurance products. TSM is the principal company in Puerto Rico that offers guaranteed issue, funeral and cancer policies directly to people in their homes in the lower and middle income market segments. The Company also markets its group life coverage through its managed care subsidiary's network of agents. TSM offers a range of property and casualty insurance products through its subsidiary Seguros Triple-S, Inc. The Company's predominant lines of business are commercial multi-peril, commercial property mono-line, auto physical damage, auto liability and dwelling policies. TSM faces competition in each of its product lines. The operations of the Company's managed care business are subject to regulation in Puerto Rico, as well as U.S. Federal regulation.