Cleveland – Medical Mutual of Ohio is acquiring the 105,000 members in the group and individual health insurance business of HealthSpan Partners.
“The deal calls for HealthSpan continuing to insure its members enrolled in employer-sponsored plans through their renewal date or August 31, whichever comes first, and individual members through December 31, 2016,” Jared Chaney, Medical Mutual’s chief communications officer, said.
As part of the agreement and to help with the transition, he added, HealthSpan is endorsing Medical Mutual as its replacement carrier.
“Medical Mutual has plans with comparable coverage based on rates, benefits and provider network, which, depending on the plan, is likely to include the same physicians offered by the HealthSpan network,” Chaney said. “We are going to work hard to transition as much of the HealthSpan membership to us as we can. We think we will be a great fit for them."
HealthSpan members do not need to do anything at this time. Medical Mutual will contact HealthSpan’s individual and group customers with information about replacing their current coverage.
About Medical Mutual of Ohio
Founded in 1934, Medical Mutual of Ohio is the oldest and largest health insurance company based in Ohio. For more than 80 years, the company has served customers with high-quality, affordable group and personal health insurance plans, and third-party administrative services to self-insured group customers. As a mutual health insurance company, Medical Mutual is unique in that it operates for the benefit of its members. Unlike publicly-traded insurance companies that must maximize their financial return, Medical Mutual does not answer to stockholders or Wall Street analysts.