A national managed care company has acquired a limited-benefit health benefits pioneer.
CIGNA HealthCare, Bloomfield, Conn., a unit of CIGNA Corp., Philadelphia, has closed on efforts to acquire Star HRG, Phoenix, from HealthMarkets Inc., North Richland Hills, Texas.
The price of the deal was not immediately available.
Star HRG, which has 320 employees, sells the Starbridge family of low-priced “mini medical” insurance products. The products provide small amounts of health insurance coverage along with access to discount provider networks or preferred provider networks.
More than 1,000 employers are using Star HRG plans, and those plans are covering about 200,000 employees, according to CIGNA HealthCare.
CIGNA HealthCare has hired eligible Star HRG employees, and it plans to start marketing the Star HRG products immediately, the company says.