Massachusetts's Tufts Health Plan and Harvard Pilgrim Health Care have announced they are exploring a merger and are working to develop a memorandum of understanding in order to better compete with juggernaut Blue Cross Blue Shield of Massachusetts, according to a Boston Globe report.
Tufts and Harvard Pilgrim are the second- and third-largest private insurers in the state. As they explore a merger, they are expected to asses whether a merger would bring down costs and better serve customers, according to the report.
The two groups are expected to reach a definitive agreement, which would then undergo various levels of regulatory review.
Read the Boston Globe report on the possible Tufts Health Plan, Harvard Pilgrim merger.
Read previous coverage on Massachusetts insurers:
- CEO of BCBS of Massachusetts: High Cost Hospitals May Face Reduced Payment
- BCBS of Massachusetts Reports Success of New Fixed Payments for Physicians
- New BCBS of Massachusetts Plan Increases Co-Pays for 15 "High-Cost" Hospitals
Tufts and Harvard Pilgrim are the second- and third-largest private insurers in the state. As they explore a merger, they are expected to asses whether a merger would bring down costs and better serve customers, according to the report.
The two groups are expected to reach a definitive agreement, which would then undergo various levels of regulatory review.
Read the Boston Globe report on the possible Tufts Health Plan, Harvard Pilgrim merger.
Read previous coverage on Massachusetts insurers:
- CEO of BCBS of Massachusetts: High Cost Hospitals May Face Reduced Payment
- BCBS of Massachusetts Reports Success of New Fixed Payments for Physicians
- New BCBS of Massachusetts Plan Increases Co-Pays for 15 "High-Cost" Hospitals