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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowAs the year ended, Indianapolis-based health insurance giant Elevance Health completed its previously announced acquisition of Indiana University Health Plans, the managed care unit of hospital system IU Health.
IU Health Plans becomes part of Elevance’s Anthem Blue Cross and Blue Shield in Indiana. IU Health Plans operates Medicare Advantage plans in 36 counties with 19,000 members and has 9,600 members with fully insured commercial plans through employers. IU Health Plans has more than 160 employees in Indiana.
Anthem did not disclose the terms of the deal.
In a news release, Anthem praised IU Health Plans as an established managed care plan known for local brand awareness, community involvement, customer service and extensive product offerings.
“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 of IU Health Plans.
Anthem said acquiring IU Health Plans is part of Elevance Health’s whole-health strategy of connecting members to care, support and other resources. Elevance last year continued to broaden its business with other moves including acquiring Kroger Specialty Pharmacy and Paragon Healthcare, an infusion services provider and specialty pharmacies.
On its website, IU Health Plans said the acquisition will not change members’ Medicare Advantage coverage. “If you are a member of an IU Health Plans employer-sponsored plan, your employer will inform you of any changes to your health insurance benefits,” it said.
Elevance is Indiana’s largest public company, with revenue of $171.3 billion in 2023. As of the end of September, its medical membership totaled about 45.8 million. The IU Health Plans deal was announced in September.
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