While financial details were not disclosed, UnitedHealthcare completed the acquisition the morning of Aug. 16, with Fairview Health Services ceding ownership, according to the StarTribune. In UnitedHealthcare’s application for regulatory approval, the company noted its opportunity to develop currently limited commercial plans in the state.
PreferredOne has historically been the fifth-largest nonprofit carrier in Minnesota. It also includes 420 local employees.
UnitedHealthcare will be adding nearly 250,000 members from PreferredOne, with members primarily composed of those enrolled in self-funded employer plans.
At the Becker's 5th Annual Fall Payer Issues Roundtable, taking place November 2–3 in Chicago, payer executives and healthcare leaders will come together to discuss value-based care, regulatory changes, cost management strategies and innovations shaping the future of payer-provider collaboration. Apply for complimentary registration now.