WellPoint Purchases Private Insurance Exchange

Health insurer WellPoint and two non-profit health insurers are buying a 78-percent stake in Bloom Health, a private health insurance exchange in Minneapolis that offers health plans to roughly 20,000 workers at roughly 50 companies, according to an Indianapolis Business Journal report.

The private health insurance exchanges will compete for employers with the state-funded health insurance exchanges, which will be operational in 2014 under the Patient Protection and Affordable Care Act.

According to the report, WellPoint's partners in the purchase are Health Care Services and Blue Cross Blue Shield of Michigan.

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