UPDATED: Jan. 2, 2025 at 1:17 p.m.
Elevance Health has officially closed its acquisition of Indiana University Health Plans, according to an announcement from its Anthem Blue Cross division.
The insurer said on Dec. 31 that the deal had been finalized. Anthem said that IU Health Plans is "known for its local brand awareness, community involvement, high-touch customer service, and extensive product offerings," so the combination will allow it to continue to push toward it's whole-health strategy.
IU Health Plans includes Medicare Advantage plans across 36 counties covering 19,000 people as well as fully-insured employer plans with 9,600 members. It will now operate as part of Anthem in the Hoosier State. It has "continued to earn high-quality scores in its operating region and is committed to community health, well-being and high-quality care for each of its members," Anthem said.
"The acquisition of IU Health Plans supports Anthem Blue Cross and Blue Shield parent company’s whole-health strategy and will continue to support members, families, and communities across the entire care journey – connecting them to the care, support, and resources they need to lead healthier lives," the company said in the press release.
Elevance Health has entered into a deal to acquire Indiana University Health Plans, the company's Anthem Blue Cross unit announced this week.
Should the deal close, IU Health Plans will operate as part of Anthem in the Hoosier State, according to the press release. Financial terms of the sale were not disclosed.
IU Health Plans provides Medicare Advantage plans to 19,000 people across 36 counties and has a 4.5 star rating from the Centers for Medicare & Medicaid Services. It also has 12,000 fully insured commercial plan members, according to the release.
The plan has 160 team members in Indiana.