A West Coast managed care company has bought out a partner that was helping it run a health insurance business in the Northeast.
Health Net Inc., Woodland Hills, Calif., says it completed previously announced efforts to acquire full control over Healthcare Solutions from Guardian Life Insurance Company of America, New York.
Health Net ended up with an interest in Healthcare Solutions when it acquired another health insurer in 1997. The joint venture has been selling health coverage to employers with 2 to 50 employees in Connecticut, New Jersey and New York.
Health Net has supplied the providers and administrative services, and Guardian has handled distribution, Health Net says.
For members, the only change will be that the plan now will be called Health Net Healthcare solutions, rather than Guardian/Health Net Healthcare Solutions, Health Net says.
Guardian’s non-medical plans, such as its dental and disability plans, were not part of the joint venture and are unaffected by the deal, Health Net says.