FOR IMMEDIATE RELEASE

CHCS SERVICES, INC. ANNOUNCES CONTRACT AGREEMENT WITH BLUE CROSS AND BLUE SHIELD OF FLORIDA

Weston, Florida, December 4, 2002 -- CHCS Services, Inc., a subsidiary of Universal American Financial Corp. (NASDAQ: UHCO), and a leading administrator of senior insurance and non-insurance products, today announced a five year contract with Blue Cross and Blue Shield of Florida (BCBSF) for the administration of BCBSF's long-term care products.

Effective January 1, CHCS Services will provide general policy administration as well as case management and claims payment for new business marketed through BCBSF.

"CHCS Services is well-known for its expertise and innovation in long-term care administration," said Lisa Wendt, Vice President Long-Term Care of BCBSF. "We are delighted to be working together and look forward to a successful relationship in the months and years ahead."

"We are very pleased that Blue Cross and Blue Shield of Florida has selected CHCS Services for this contract," said Gary Jacobs, president of CHCS Services. "The alliance of BCBSF, a healthcare industry leader, and CHCS Services, a specialist in third party administration, presents opportunities that will ultimately result in superior products and services for the senior market in Florida."

About Blue Cross and Blue Shield of Florida
Blue Cross and Blue Shield of Florida (BCBSF) is a leader in Florida's health industry. BCBSF and its subsidiaries serve more than 6 million Floridians. Since 1944, the company has been dedicated to providing caring solutions that meet the diverse and ever-changing needs of all those it serves by offering an array of choices. Headquartered in Jacksonville, Florida, BCBSF is an independent licensee of the Blue Cross and Blue Shield Association, an association of independent Blue Cross and Blue Shield companies. For more information concerning BCBSF, please see its website at www.bcbsfl.com .

About CHCS Services, Inc.
CHCS Services, Inc., a wholly owned subsidiary of Universal American Financial Corp., is a full service third-party administrator for insured long-term care and Medicare supplement programs, and non-insured eldercare programs. CHCS Services offers clients a seamless transition into the senior market through a complete menu of outsourcing solutions, advanced technology-based products and superior customer service. For more information please visit www.chcsservices.com .

About Universal American Financial Corp.
Universal American Financial Corp. offers a portfolio of supplemental life and health insurance products, primarily to the senior market, as well as third party administrator services for insurance and non-insurance programs in the senior market. For more information on Universal American, please visit www.uafc.com .

CONTACT:          Sarah Bell 
                  Vice President-Corporate Marketing
		  Universal American Financial Corp.
		  (914) 934-5200 ext. 353
                  or
                  INVESTOR RELATIONS COUNSEL:
                  The Equity Group Inc.
                  www.theequitygroup.com
                  Lauren Barbera  (212) 836-9610
                  Linda Latman	(212) 836-9609