Centene Corporation has agreed to buy QualChoice Health Insurance.
Terri Parker West, QualChoice Health Insurance communications & design manager, confirmed Friday (Jan. 4) that QualChoice’s parent company, Catholic Health Initiatives, had signed a definitive agreement with St. Louis-based Centene.
Centene offers Ambetter Marketplace and Allwell Medicare Advantage plans. QualChoice offers QCA Health Plan and QualChoice Life and Health plans.
“There will be no changes to QualChoice operations in the near future as a result of the sale. QualChoice members will still be covered by their current benefits and network of providers and pharmacies,” West said in an email.
The sale must be reviewed and approved by the Arkansas Insurance Department.
Ryan James, an AID spokesperson, said the department is aware of the reported sale but does not have any information on which it can comment. The companies would have to file the appropriate forms with the department.
The purchase would leave Arkansas with two insurance companies offering plans on the individual marketplace and for beneficiaries of the Arkansas Works program serving lower-income individuals through the Affordable Care Act. The state purchases private health insurance for those beneficiaries.
As of Aug. 23, 2018, Ambetter covered 85,373 affected lives on the individual marketplace not including Arkansas Works, while QualChoice covered 31,009 affected lives through its two plans. Arkansas Blue Cross & Blue Shield, the state’s largest individual marketplace insurer, covered 186,510.
Read more: https://talkbusiness.net/2019/01/centene-agrees-to-buy-qualchoice/