The healthcare services company has completed the acquisition of third-party administrator Trustmark Health Benefits, the company announced Wednesday.
Health Benefits is now a wholly owned subsidiary of HCSC, which sells Blue Cross Blue Shield plans to 17 million members in Illinois, Montana, New Mexico, Oklahoma, and Texas. The subsidiary formerly operated under the management of employee benefits provider Trustmark.
The acquisition will advance HCSC’s services to self-insured customers, the company said in a press release.
“This is the latest way we are growing and building our network of subsidiaries and investing in businesses with interests affiliated with us – as we look to increase access to our services. cost-effective, quality healthcare,” said Dr. Opella Ernest, executive vice president, commercial market president, HCSC, in the news release.
The nonprofit insurer and benefits manager announced the deal in August for an undisclosed price. Prior to the transaction, HCSC was a Trustmark client and used its services to manage self-funded employer medical spending.
