HealthMarkets Announces Three Year Contract with CVS Caremark

HealthMarkets Subsidiaries Offer Enhanced Pharmacy Benefit to All Health
Insurance Plan Members
NORTH RICHLAND HILLS, Texas--(Business Wire)--
HealthMarkets, Inc. (http://www.healthmarkets.com) announced today that it has
signed a three-year contract with CVS Caremark (http://www.caremark.com) for
Pharmacy Benefit Management Services. The services are now available for all
members who have a policy through HealthMarkets® subsidiary insurance companies.

HealthMarkets® is the brand name for health insurance products underwritten and
issued by the health insurance subsidiaries of HealthMarkets, Inc., located in
North Richland Hills, TX. Health insurance products provided under the
HealthMarkets brand are designed to provide personalized protection to
individuals, families, the self-employed and small businesses.

"HealthMarkets is proud to partner with CVS Caremark for these services and
offer our members this important, cost-saving benefit that will help maximize
their healthcare dollars," said Phillip J. Hildebrand, President and Chief
Executive Officer for HealthMarkets. "We want to help simplify the process for
our members in managing and obtaining necessary prescriptions. Whether it is
medication necessary to manage their health or recover from an illness, this
partnership enables them to receive their prescriptions at an affordable cost."

Plan members with this benefit have the choice of getting their medicines at one
of the more than 62,000 locations in the CVS Caremark retail pharmacy network or
through the CVS Caremark mail service pharmacies for home delivery of
maintenance (long-term) medicines.

"We are pleased to continue our relationship with HealthMarkets and to extend
our Proactive Pharmacy Care model to their membership," said Howard McLure,
President, CVS Caremark Pharmacy Services."Through our proactive approach, we
are able to deliver to HealthMarkets members both a convenient and
cost-effective way to receive and manage their prescriptions, increase
engagement in their health care and manage medication costs."

About HealthMarkets

HealthMarkets® is the brand name for products underwritten and issued by the
insurance subsidiaries of HealthMarkets, Inc. -- The Chesapeake Life Insurance
Company®, Mid-West National Life Insurance Company of Tennesseesm and The MEGA
Life and Health Insurance Companysm. Products provided under the HealthMarkets
brand are designed to provide personalized protection to individuals, families,
the self-employed and small businesses. For further information regarding
products offered by the HealthMarkets` Companies, visit www.healthmarkets.com.
The administrative offices of HealthMarkets, Inc. and its underwriting companies
are located in North Richland Hills, Texas. Products are marketed through
independent agents in sales offices across the country. For more information
about the HealthMarkets Companies visit www.healthmarketsinc.com.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: Some of the matters discussed in this news release may contain
forward-looking statements that are subject to certain risks, uncertainties and
assumptions. Such forward-looking statements are intended to be identified in
this document by the words "anticipate," "believe," "estimate," "expect,"
"intend," "objective," "plan," "possible," "potential" and similar expressions.
Actual results may vary materially from those included in the forward-looking
statements. Factors that could cause actual results to differ materially from
those included in the forward-looking statements include, but are not limited
to, general economic conditions; the continued ability of the Company to compete
for customers and insureds in an industry where many of its competitors may have
greater market share and/or greater financial resources; the Company`s ability
to accurately estimate medical claims and control costs; changes in government
regulation that could increase the costs of compliance or cause the Company to
discontinue marketing its products in certain states; the Company`s failure to
comply with new or existing government regulations that could subject it to
significant fines and penalties and/or result in restrictions on its operations;
changes in the relationship between the Company and the membership associations
that make available to their members the health insurance and other insurance
products issued by the Company`s insurance subsidiaries; changes in the laws and
regulations governing so-called "association group" insurance (particularly
changes that would subject the issuance of policies to prior premium rate
approval and/or require the issuance of policies on a "guaranteed issue" basis);
significant liabilities and costs associated with litigation; failure of the
Company`s information systems to provide timely and accurate information;
negative publicity regarding the Company`s business practices and/or regarding
the health insurance industry in general; the Company`s inability to enter into
or maintain satisfactory relationships with networks of hospitals, physicians,
dentists, pharmacies and other health care providers; failure of the Company`s
regulated insurance company subsidiaries to maintain their current ratings by
A.M. Best Company, Fitch and/or Standard & Poor`s; and the other risk factors
set forth in the reports filed by the Company from time to time with the
Securities and Exchange Commission.

HealthMarkets Corporate Communications
Donna Ledbetter, 817-255-5405
Donna.Ledbetter@healthmarkets.com
www.HealthMarkets.com

Copyright Business Wire 2009