Health insurers Highmark and Blue Cross of Northeastern Pennsylvania have signed a definitive agreement to merge.
Under the agreement, BCNEPA's local operations will merge with Highmark, making Highmark the Blue Cross and Blue Shield Association affiliate for BCNEPA's 13-county service area, according to a news release. Together, the two insurers serve nearly 5 million members in 62
Denise Cesare, president and CEO of BCNEPA, said in the release that the deal will help the insurer meet its future goals. Merging with Highmark will allow BCNEPA to increase efficiency and better meet the needs of its members, she said.
Highmark will maintain regional operations and make efforts to maintain local staffing areas. Additionally, Highmark will establish a local advisory board including board members from BCNEPA. Meanwhile, BCNEPA will provide as much as $100 million through a charitable foundation to support health, wellness and economic development in the region.
Highmark is now seeking approval of the merger from the Pennsylvania Insurance Department.
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