With the re-decision approaching, the national anthem continues to promote Medicaid
The insurance company announced on Wednesday that Anthem will pay an undisclosed amount to purchase Medicaid managed care insurance company Integra Managed Care from Personal Touch Holding, a family health company.
Integra Managed Care specializes in providing insurance for adults with long-term disabilities, and provides care management, home care, treatment, and family health support services to the 40,000 New York Medicaid enrollees who live at home. The transaction is expected to be completed in the second half of next year, awaiting review by regulatory agencies.
The national anthem has been Expand its Medicaid coverageThis special transaction gives insurance companies a foothold in the social determinants of family health and health services, which can help companies improve patient treatment outcomes and cut medical expenditures.
“This acquisition is in line with our goal of developing Anthem’s Medicaid business while providing our members with a fully coordinated approach to care,” Felicia Norwood, executive vice president of Anthem’s government business unit, said in a press release. “Like Anthem, Integra has established connections with community groups to gain a deeper understanding of how to best support the overall health needs of the people we are fortunate to serve.”
The Integra Managed Care deal was concluded on the occasion of Anthem’s government-funded business expansion. In the third quarter ended September 30, Anthem’s revenue increased by 16% to $35.5 billion, mainly due to the growth of its Medicaid and Medicare business.
Compared with the same period last year, the number of participants in Anthem’s Medicaid program increased by 21.1% to 10.3 million. The insurance company is one of the largest Medicaid operators, and its registered number is second only to Centene’s 14.7 million.
Anthem’s Medicaid growth comes from new members acquired through state partnerships, acquisitions, and regulatory suspensions for requalification.
North Carolina opens its Medicaid program to managed care companies first This year, Anthem attracted 426,000 new members by joining the market. Anthem also won a bid to participate in the Ohio Medicaid program, which covers 2.9 million people. The company paid an undisclosed amount this year to acquire Puerto Rico’s largest Medicare Advantage and second-largest Medicaid program MMM Holdings, which increased its policyholders by 572,000.
Although Anthem’s Medicaid business is expanding, the insurance company expects that this boom will eventually burst once more States begin to reassess the eligibility of Medicaid participants end of year.
According to a report, once the public health emergency is over, nearly 90% of people who received Medicaid during the COVID-19 pandemic (ie 15 million) may lose benefits because their income occurred during the state suspension of eligibility review Changed. The report of the Urban Research Institute.
By the second quarter of 2022, Anthem predicts that its Medicaid population will be reduced by 65%, of which about 45% will return to employer-sponsored insurance coverage, and 20% will be eligible for subsidized private insurance from the Medicare Exchange. As these Medicaid members seek new sources of insurance, Anthem aims to convert them into other more profitable products.
“Depending on where these people go, we may be able to turn headwinds into tailwinds,” Chief Financial Officer John Galena told analysts on the company’s third-quarter earnings call last month. “We do believe that once the re-decision starts, we will be able to retain a large number of memberships in Anthem products.”