SeeChange Health, the nation’s only fully-insured, value-based health insurance provider, announced today the acquisition of Central Benefits National Life Insurance, a health and life insurance company based in Westerville, OH. The transaction closed on July 31, 2009.
The acquisition of Central Benefits National Life Insurance Co. will allow SeeChange Health to rapidly expand their fully-insured, value-based products into 25 states in the coming months. The program is expected to launch in California later this year pending final regulatory approval.
“Value-based health care is an innovative approach toward lowering health care costs while at the same time improving the quality of care,” said Janice Rahm, executive vice president of SeeChange Health. “Instead of continuing to shift health care costs from insurer to employer and plan member, our new value-based plans will actually reduce medical claims, because the plans will ultimately improve the health of our members.”
“It has been over 20 years since a new insurance company entered the California market,” said Martin Watson, CEO of SeeChange Health. “We are confident SeeChange Health is uniquely positioned to adjust quickly to both market needs and regulatory changes that may impact the industry.”
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