SCAN Health Plan Announces Creation of $205 Million Foundation Dedicated to the Needs of Seniors

LONG BEACH, Calif., April 11 /PRNewswire/ -- SCAN Health Plan announced today the launch of a new $205-million charitable foundation that will focus on innovative solutions to the healthcare needs of California's seniors. Called "The SCAN Foundation," the new organization will become, when fully operational, one of the nation's largest foundations targeted at the needs of the elderly.

SCAN also announced the appointment of Bruce Chernof, MD, as chief executive officer of the Foundation. A nationally known and respected healthcare leader, Chernof will leave his current post as director and chief medical officer of the Los Angeles County Department of Health Services to join the Foundation in late May.

The SCAN Foundation is being created through a contribution from SCAN Health Plan, a nonprofit Medicare Advantage organization based in Southern California. The California Department of Managed Health Care has authorized the creation of the Foundation.

SCAN Health Plan's mission is to support healthy and independent aging. "We believe that the establishment of a foundation is the best use of a portion of our dollars, totally consistent with our values and a natural continuation of the legacy of the 12 seniors who founded SCAN more than 30 years ago," said Dave Schmidt, CEO of SCAN Health Plan. "The establishment of the Foundation is part of the continuing commitment to community benefit by SCAN."

The SCAN Foundation has already committed to spend $5 million toward programs that address the health-information technology needs of California's seniors. Other areas of emphasis may include geriatric education, work in select geriatric disease states and finding new ways to support seniors' ability to remain independent and at home.

"Over the past six years, SCAN has been very successful in efficiently managing its operations and employing sound money-management practices. Our financial strength coupled with our commitment to be at the forefront of senior issues positions us well for this philanthropic effort," said Schmidt.

"We're excited to create a foundation that will have a direct and measurable impact on the healthcare of senior citizens in California and the United States," said Thomas Higgins, chairman of board of The SCAN Foundation.

SCAN Health Plan has substantial reserves and, even after funding the Foundation, will remain well beyond any statutory requirements.

Because SCAN Health Plan is itself a not-for-profit organization, there were no shareholders or stock conversions involved in the creation of this Foundation. The SCAN Foundation will be based in Long Beach, California. SCAN Group is the holding body for the SCAN entities.

For more than 30 years, SCAN Health Plan has been focusing on the unique needs of people with Medicare. One of California's fastest-growing Medicare Advantage plans, SCAN currently serves more than 100,000 members in Los Angeles, Orange, Riverside, San Bernardino, San Diego, Ventura and Kern counties. In Arizona, SCAN offers a health plan for Medicare and Medicaid-eligible individuals and also provides long-term care services to individuals enrolled in the state's long-term care system in Maricopa County. Further information may be obtained at http://www.scanhealthplan.com.

SOURCE SCAN Health Plan

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