Two Michigan-based health insurance companies, Flint-based HealthPlus of Michigan and Detroit-based Health Alliance Plan (HAP), announced that they have reached an agreement and signed a letter of intent to merge. The two companies made headlines in October when a potential merge was first announced.
“This is a win-win situation,” James Connelly, HAP president and CEO, said in a statement. “It's a win for both HealthPlus and HAP because it creates a larger, stronger, more competitive company with a solid portfolio of comprehensive products and opportunities for growth. As important, it's a win for the members of both companies because two Michigan-based non-profit companies are coming together to provide excellent coverage, care and customer service.”
According to the statement, HealthPlus members will not experience any changes to their provider networks or coverage.
The scheduled effective date for the deal is Jan. 1, 2016.
Michael has more than 16 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.