According to documents acquired by the outlet, additional conditions could raise the value of the transaction by $1 million.
BCBS Louisiana, a nonprofit, will use the funds from the acquisition to establish a foundation to address health equity and provide payouts to many of its members. The insurer will become a for-profit subsidiary of Elevance.
Elevance expects to add 1.6 million members and $4.5 billion in revenue from the purchase.
The deal is subject to approval from Louisiana regulators and is expected to close this year.
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