Arkansas Blue Cross and Blue Shield confirmed it is exploring an affiliation with Cambia Health Solutions, The Arkansas Democrat Gazette reported Oct. 30.
A spokesperson for Arkansas BCBS told the news outlet the “strategic affiliation agreement” the company is considering is not a merger or acquisition. The affiliation model would be designed to “retain local presence and governance while also providing potential for faster innovation and the cost benefits of shared resources.”
Arkansas Business reported in January that Arkansas BCBS was pursuing an agreement with Portland, Ore.-based Cambia, the parent company of Regence BlueShield, which operates in Oregon, Washington, Idaho and Utah. Reports of the potential deal came after Arkansas BCBS recorded a loss of more than $100 million in the first three quarters of 2024.
Cambia and Blue Cross Blue Shield of North Dakota said in August that they plan to enter a strategic affiliation that brings the Fargo-based insurer under Cambia’s management while maintaining its local governance and mutual status.
If approved, that affiliation would integrate BCBSND into Cambia alongside its Regence plans. Cambia would assume responsibility for operations, including claims, IT, financial reporting and plan performance. BCBSND employees would become Cambia employees, though the health plan would retain its local name, board of directors and foundation. Its reserves and philanthropic resources would also remain in North Dakota. The deal is expected to close in 2026, pending regulatory approval.
