UnityPoint Health and HealthPartners® plan to jointly launch a new insurance company, offering individuals and employers a new integrated option when it comes to their health care and coverage.
The partnership, named “HealthPartners UnityPoint Health,” will leverage the best of both companies: UnityPoint Health’s network of providers and HealthPartners’ scale, health plan sophistication and expertise. The parties will equally own and govern the insurance entity.
“This is a very exciting time for not only our organizations, but the people of Iowa and Illinois,” said Troy Caraway, UnityPoint Health senior vice president. “We want to provide a new option that provides more value to individuals and employers. The closer we can bring the insurer and health care provider together, the greater opportunity we have to coordinate care more efficiently.”
“We share a goal to help people live healthier lives and access high quality, affordable care,” said Andrea Walsh, HealthPartners executive vice president and chief marketing officer. “Together, we will provide insurance products, services and tools to support personal health and well-being.”
The goal of the joint venture is to offer greater consumer choice beginning with competitive Medicare Advantage plan options in Iowa and Illinois that support the triple aim – which seeks to improve health, patient experience and affordability. The new company will accelerate both organizations’ ability to improve care and coverage for the members and communities they serve.
HealthPartners UnityPoint Health is seeking insurance licenses in Iowa and Illinois, and it plans to launch operations in 2016, pending regulatory approvals. Initial products of the joint venture will include Medicare Advantage (pending approval) for the plan year beginning January 1, 2017, with the potential for additional products.
Founded in 1957, HealthPartners serves more than 1.4 million medical and dental health plan members nationwide. It is the largest consumer-governed, non-profit health care organization in the nation and provides care, coverage, research and education to improve health and well-being in partnership with members, patients and the community. HealthPartners is the top-rated commercial health plan in Minnesota and is also one of the top-rated health plans in the nation, according to the National Committee for Quality Assurance's (NCQA) Health Insurance Plan Rankings 2015–2016. For more information, visit healthpartners.com.