Ohio-based CareSource has completed its acquisition of Commonwealth Care Alliance (CCA), the insurer announced Wednesday.
CCA, centered in Massachusetts, is a nonprofit organization that provides both health coverage and care delivery services for people with critical needs. As part of CareSource, CCA will still operate its Senior Care Options and One Care under the new umbrella.
An announcement from the companies said CCA's members will continue to receive the services and coverage that they're accustomed to, while CCA can also tap into CareSource's resources and expertise in the Medicaid space.
“The CareSource and Commonwealth Care Alliance partnership ensures residents of Massachusetts with complex health needs continue to have access to high-quality health care,” said Erhardt Preitauer, president and CEO of CareSource.
“We look forward to collaborating with our CCA colleagues to build strong working relationships with partners in the Massachusetts provider and patient advocacy communities to deliver high-quality service and outcomes for those who are counting on us," Preitauer said.
CareSource has more than 2 million members across 13 states, according to the announcement. CCA will bring nearly 50,000 people in Massachusetts into the fold, individuals who are dually eligible for Medicare and Medicaid. Many of its members have challenging behavioral health needs and face critical social gaps like access to food or housing.
CCA also treats about 1,100 people in the Boston and Springfield areas through its home-based primary care program.
By combining their strengths, CCA members will gain access to more coordinated care and a stronger support network, according to the announcement.
CCA President and CEO Chris Palmieri will depart the company as part of a "long-planned transition," the partners added.
“CCA’s roots trace back to a community health movement of provider and consumer advocacy groups collaborating to develop a whole-person approach to care for people with the most significant needs," said David Klein, the outgoing chairman of CCA’s board of directors. "As we searched for a strategic partner, CCA prioritized finding an organization that shares our values, and would enhance care for those we are privileged to serve.“
"CareSource is the ideal partner for the long-term sustainability of CCA, with decades of expertise in managing complex care and a unique member-centric focus," Klein said.