Clear Choice Health Plans Inc. has acquired Trusteed Plans Service Corp.
Clear Choice, Bend, Ore., a company that sells health insurance and related products and services, provides or administers health coverage for about 46,000 people.
Trusted Plans, Tacoma, Wash, offers “administrative services only” arrangements to self-funded employee benefit plans in Alaska, Idaho, Montana, Nevada, Oregon and Washington state. The plans cover 55,000 people.
Clear Choice is not saying how much it has paid for Trusted Plans, but it says Trusted Plans will keep its name and management team and operate as a wholly owned subsidiary of Clear Choice.
Trusted Plans should generate about$5 million in annual revenue this year, and acquiring it will help Clear Choice diversify, by adding a book of administrative services business, Clear Choice says.