Well being Care Service Corp. has accomplished its acquisition of third-party administrator Trustmark Well being Advantages, the businesses introduced Wednesday.
Well being Advantages is now an entirely owned subsidiary of HCSC, which sells Blue Cross Blue Protect plans to 17 million members in Illinois, Montana, New Mexico, Oklahoma and Texas. The subsidiary beforehand operated underneath worker advantages vendor Trustmark.
The acquisition will enhance HCSC’s choices to self-insured prospects, the corporate mentioned in a information launch.
“It’s the newest means we’re creating and constructing out our community of subsidiaries and investments in companies with pursuits affiliated with ours — as we search to extend entry to high quality, cost-effective well being care,” Dr. Opella Ernest, govt vice chairman of business markets for HCSC, mentioned within the information launch.
The not-for-profit insurer and advantages administrator introduced the deal in August for an undisclosed value. Earlier than the transaction, HCSC was a Trustmark buyer and used its companies to handle self-funded employers’ well being spending.