September 27, 2023

Elevance Well being plans so as to add Blue Cross and Blue Protect of Louisiana to its household of well being plans for an undisclosed worth, the businesses introduced Monday.

Elevance Well being’s Anthem Blue Cross Blue Protect plans will function in 15 states if the transaction is accomplished. The for-profit firm has partnered with the Louisiana Blue Cross and Blue Protect affiliate for the 5 years. The Pelican State firm will stay headquartered in in Baton Rouge and retain its 3,000 workers, in line with a information launch.

Blue Cross and Blue Protect of Louisiana leads the state’s medical health insurance market with a 67% share, in line with analysis the American Medical Affiliation printed in November. That is the third-largest share of any insurer in any state, the AMA studies.

“To stay sturdy in in the present day’s atmosphere with a capability to offer main improvements, merchandise and capabilities, we concluded that we would have liked a associate that would assist us ship these quicker and higher than we may alone,” Blue Cross and Blue Protect of Louisiana President and CEO Dr. Steven Udvarhelyi mentioned within the information launch.

A multibillion-dollar basis referred to as the Speed up Louisiana Initiative will launch following the deal’s closure to handle well being inequities.