Delaware State Insurance Commissioner Karen Weldin Stewart has approved an affiliation between Pittsburgh-based health insurer Highmark and Blue Cross Blue Shield of Delaware, according to a joint news release (pdf).
The deal, which was first proposed in the summer of 2010, includes a $42-million cap on costs to integrate the two parties. BCBS of Delaware will now be known as Highmark Blue Cross Blue Shield Delaware, and it will still be headquartered in Delaware, according to a Pittsburgh Post-Gazette report.
Although the deal is not finalized, the two health insurers stated that "in the coming months, we will compete the activities needed to make this affiliation a reality so that Delawareans can begin to enjoy the numerous benefits of this affiliation," according to the news release.
The deal, which was first proposed in the summer of 2010, includes a $42-million cap on costs to integrate the two parties. BCBS of Delaware will now be known as Highmark Blue Cross Blue Shield Delaware, and it will still be headquartered in Delaware, according to a Pittsburgh Post-Gazette report.
Although the deal is not finalized, the two health insurers stated that "in the coming months, we will compete the activities needed to make this affiliation a reality so that Delawareans can begin to enjoy the numerous benefits of this affiliation," according to the news release.
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