Regulators OK CareSource, Health Alliance Plan joint venture

State and federal regulators have approved a joint venture between CareSource and Health Alliance Plan. 

According to an Aug. 17 news release, the two organizations expect the transaction to close at the end of August or September. 

On May 4, the two companies said they planned to form a joint venture to expand Health Alliance Plan's Medicaid footprint in Michigan. 

Health Alliance Plan, a subsidiary of Detroit-based Henry Ford Health, currently has 43,000 Medicaid members. 

CareSource, a nonprofit managed care organization, has 2.3 million members across Medicaid, Medicare and individual products in seven states. 

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