Under the agreement, Molino Healthcare of Illinois can assume MyCare Chicago’s 61,000 Medicaid members in Cook County, Illinois, in addition to some assets of its Medicaid business. As part of a services agreement with Molina Healthcare of Illinois, MyCare Chicago will continue to operate its provider network and coordinate care for certain enrollees.
MyCare Chicago is also known as Accountable Care Chicago and is one of 11 accountable care entities in Illinois, according to a statement.
Molina Healthcare of Illinois will pay for the transaction with cash on hand. The deal is expected to close in the fourth quarter of 2015, pending regulatory approval and other closing conditions.
More articles on payer issues:
Exchange plans have 34% fewer providers than commercial plans
UnitedHealth profits rising; Optum revenues up — 5 key points
Mass. insurers asked to improve health cost websites
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
