After a thorough review by federal and state regulatory agencies, Health Alliance Plan (HAP), an Ohio-based nonprofit managed-care health plan and CareSource, a Michigan nonprofit health plan have received regulatory approval for their joint venture. The entities will operate as “HAP-CareSource” and develop new products and programs to better serve Michigan residents and provide them with a higher level of health care.
HAP is one of the most trusted health insurance companies in Michigan. It currently offers Medicaid coverage for 43,000 HAP-Empowered members, as well as Medicare Advantage and commercial plans. CareSource is one of the largest Medicaid managed care and government sponsored health care organizations in the United States. It serves over 2.3 million members across Ohio, Indiana Kentucky, Georgia Arkansas, North Carolina, and West Virginia. This includes Medicaid, Health Insurance Marketplace, and Medicare products.
HAP and CareSource, by joining their strengths, are extending a legacy of providing comprehensive health coverage and access to the best doctors, while delivering compassion through a combined Medicaid offer and planned reentry into the Health Care Marketplace.
CareSource’s track record in customer service and impact on the community makes them a great cultural fit for HAP. CareSource is a leader in health care when it comes to claims payment timeliness, auto adjudication rate and clinical programs designed for the most vulnerable members.
HAP is a Henry Ford Health entity that has been expanding in Michigan for several years. The Michigan Department of Insurance and Financial Services approved the transaction, allowing the parties to proceed with the closing. The closing will be completed by the end or September. Both companies will continue to sort out operational details, and they will look at future opportunities for providing Michigan residents with high-quality health care across the entire state.
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