Steve’s breakdown: Their last compaign was pretty great but with an insurance company owning the brand, the only thing we can say is, things are going to change.

INDIANAPOLIS, IN: WellPoint Inc., the health insurer, plans to buy 1-800 Contacts and may develop vision coverage that offers discounts on contacts and eyewear, according to  a published report.

The Wall Street Journal says the value of the deal would be close to $900 million. That number is attributed to an anonymous source familiar with the situation.

In a story on the newspaper’s web site early this morning, WellPoint chief financial officer Wayne S. DeVeydt confirms the deal but did not discuss its financial details.

WellPoint placed 45th on the latest Fortune 500 rankings and provides health insurance to nearly 34 million people. It is the second-largest U.S. insurer, trailing only UnitedHealth Group Inc. It runs Blue Cross Blue Shield plans in 14 states, including California, New York and Ohio.

1-800 Contacts, based in Utah, is the largest seller of replacement contacts, offering products through its web site and toll-free telephone number.

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