A proposed merger between two Massachusetts health insurers has died, with Harvard Pilgrim Health and Tufts Health Plan saying they could not justify a merger due to costs and complexity, according to a Boston Herald report.
The groups announced plans to partner in late January to better compete with competitor Blue Cross Blue Shield of Massachusetts. Harvard Pilgrim and Tufts are the state’s second and third largest healthcare payors behind Blue Cross.
Harvard Pilgrim’s CEO, Eric Schultz, said the organizations determined they are stronger as individual competitors than as one company, according to the report.
Read the Boston Herald report on Harvard Pilgrim Health and Tufts Health Plan.
Read more news about payors in Massachusetts:
– Massachusetts Insurers Tufts and Cambridge Health Alliance in Talks to Partner
– CEO’s Mediation Skills Challenged in Tufts and Harvard Merger
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