UnitedHealth buys Virginia Medicare Advantage plan (highlighted)
Morgan Haefner – Monday, October 7th, 2019
A UnitedHealth Group subsidiary bought a Medicare Advantage plan in Virginia for an undisclosed amount, according to The News and Advance.
Under the deal, effective Oct. 1, UnitedHealthcare Insurance Company of the River Valley absorbed 5,000 Medicare Advantage members from Piedmont Community Health Plans. Piedmont Select Medicare Advantage members will likely see no change from the sale.
CMS approved the spinoff of Piedmont Select Medicare Advantage on Aug. 29. Under a transition agreement, Piedmont will continue to administer the plans through the end of the year, after which UnitedHealthcare will take over management of the plan.
Lynchburg, Va.-based Centra Health became the owner of Piedmont Community Health Plans in 2015. The health plan still has about 25,000 members in other products.
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