The projects will be focused on areas that house a large portion of CareSource members and underserved populations in Ohio, Indiana, Georgia, Kentucky and West Virginia.
“While it’s unusual for a nonprofit like CareSource to invest this way, we feel strongly that it makes good financial sense for the organization,” CareSource CFO Dave Goltz said in a news release. “CareSource is not only diversifying existing investment dollars but also aligning our investments with our mission and better serving members.”
Other health insurers are also investing in affordable housing for their members, including UnitedHealth Group, which has invested $500 million in similar projects.
More articles on payers:
Fraudulent coding led CMS to overpay Cigna $1.4B, Justice Department says
5 payers that made $1B+ in Q2
Which states haven’t expanded Medicaid?
