WellCare Health Plans, an investor-owned health insurer based in Tampa, Fla., has aggressively expanded its operations in the past week, particularly within the Medicaid market.
Earlier this week, WellCare acquired certain assets of Healthfirst Health Plan of New Jersey, a health plan that covers 47,000 Medicaid beneficiaries in 12 New Jersey counties. Financial terms of that transaction were not disclosed.
WellCare also completed its acquisition of South Carolina's Medicaid business. The health plan serves roughly 51,000 South Carolina Medicaid members.
Today, the health insurer also expanded its Medicare Advantage service area in eight new counties across three states. Starting next year, WellCare will offer the private Medicare plans across 14 states.
As of June 30, WellCare covered 2.8 million people, mostly those with Medicaid or MA coverage.
More Articles on Commercial Health Insurers:
Florida HCA Hospitals, Humana Agree to New 2-Year Contract
Study: Insurer Payments for Physician Office Visits Vary Across U.S.
Saint Francis HealthCare Partners, Cigna Join for Collaborative Accountable Care