Medica to invest in SSM Health's insurance plan

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Nonprofit health insurer Medica and St. Louis-based system SSM Health formed a new relationship under which Medica will invest in an insurance subsidiary of SSM.

Under the relationship, announced Aug. 18, Medica will invest in Dean Health Plan of Madison, Wis. The two insurers will work on operation, technology and value-based components of the health insurance businesses.

Medica and Dean Health Plan of Madison will keep their brands and products. No changes in service are expected for members in the near term. Both organizations expect the agreement to be finalized in the fourth quarter of 2021, pending regulatory approval, according to a news release.

Dean Health Plan has nearly 500,000 members across Wisconsin, Missouri, Illinois and Oklahoma. Medica serves about 1.5 million members.

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