WellPoint Inc. is acquiring Lumenos Inc., one of the companies that popularized the idea of combining high-deductible health coverage with personal health accounts.[@@]
WellPoint, Indianapolis, a health insurer that provides or administers health coverage for 28 million U.S. residents, has agreed to pay $185 million in cash for Lumenos and hopes to complete the acquisition by June 30, WellPoint says.
Lumenos, Alexandria, Va., was founded in 1999 and now generates about $45 million in revenue per year by running health coverage programs that include health reimbursement arrangements, health savings accounts and other types of personal health accounts. Lumenos plans serve about 214,000 members, according to Lumenos.