Philadelphia-based Independence Blue Cross and Blue Cross Blue Shield of Michigan closed a transaction to gain ownership in AmeriHealth Mercy Family of Companies, according to an IBC release.
IBC received a majority interest in AmeriHealth Mercy, a Medicaid HMO that serves nearly 800,000 members across three states, while BCBS of Michigan received a minority interest.
BCBS of Michigan also announced that monthly Medicare rates for roughly 200,000 seniors will be frozen for five years. Michigan Attorney General Bill Schuette said that component was needed if the state were not to contest the closing of the sale, according to a Detroit Free Press report. The rate freeze is retroactive to Aug. 1 and goes through July 31, 2016.
IBC received a majority interest in AmeriHealth Mercy, a Medicaid HMO that serves nearly 800,000 members across three states, while BCBS of Michigan received a minority interest.
BCBS of Michigan also announced that monthly Medicare rates for roughly 200,000 seniors will be frozen for five years. Michigan Attorney General Bill Schuette said that component was needed if the state were not to contest the closing of the sale, according to a Detroit Free Press report. The rate freeze is retroactive to Aug. 1 and goes through July 31, 2016.
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