UnitedHealthcare closed Thursday on its acquisition of Rocky Mountain Health Plans, offering the greatest preferred-provider organization of Colorado a stronghold on the state’s Western Slope — an area where most insurers do not offer plans.
The attorney general and insurance commissioner of Colorado both gave approval to the deal on the day of Feb. 10, clearing the final legal barriers for the 2 health insurers.
Thursday’s action was a mere formality, though it will permit the UHC to start integrating Rocky Mountain Health Plans into its company, even as the Grand Junction-based insurer will continue to operate under its own name.
“The alignment of RMHP and UHC will assist further the missions of both agencies to make better the health and well-being of Coloradans,” stated Beth Soberg, CEO of UnitedHealthcare of Colorado. “We’re confident this partnership will combine the best elements of 2 outstanding organizations to meet health care requirements in our communities.”
Nonprofit RMHP had pulled back most of its insurance offerings to its primary area of Mesa County this year, citing the requirement to control costs at a time period when other areas of the Western Slope and Colorado’s mountain areas have few of the highest premium costs in America.
Teaming up with UHC will give financial stability and an opportunity to continue on its mission, and its will develop a $36.5 million foundation that will concentrate on Western Slope needs.
“Partnering with UnitedHealthcare gives significant and meaningful enhancements for our present and future members, employer groups, providers, partners and workers,” claimed Steve ErkenBrack, RMHP president and CEO. “This collaboration brings together UnitedHealthcare’s state-of-the art technologies and market-leading innovations with Rocky’s well respected, regional Colorado brand and our long-standing provider collaboration.”
The post Rocky Mountain Health Plans and UnitedHealthcare Ultimately finalizes the sale appeared first on Healthcare Insurance News.