Acquisition enables SeeChange to deliver value-based health insurance to 25 states
SeeChange Health, a division of Triveris LLC, a value-based health insurance provider to small employer groups, has acquired Westerville, Ohio-based, Central Benefits National Life Insurance (CBN), a health and life insurance company.
According to the company, this acquisition will allow to expand its fully-insured, value-based products into 25 states in the coming months. The program is expected to launch in California later this year, pending final regulatory approval.
Janice Rahm, executive vice president of SeeChange Health, said: “Value-based health care is an innovative approach toward lowering health care costs while at the same time improving the quality of care. Instead of continuing to shift health care costs from insurer to employer and plan member, our new value-based plans will actually reduce medical claims, because the plans will ultimately improve the health of our members.”
Martin Watson, CEO of SeeChange Health, said: “It has been over 20 years since a new insurance company entered the California market. We are confident SeeChange Health is uniquely positioned to adjust quickly to both market needs and regulatory changes that may impact the industry.”