Zing Health announced it is acquiring Pennsylvania-based Lasso Healthcare Insurance, a move that expands the Medicare Advantage plan provider's footprint to 32 states and Washington D.C.
The Chicago-based insurer primarily operates Medicare Advantage plans, but acquiring Lasso will allow Zing to promote offerings similar to popular high-deductible health plans for seniors and health savings accounts for employees.
Zing Founder and CEO Eric Whitaker, MD, said in a statement that the acquisition is natural through Lasso's commitment to rural communities complementing Zing's historic urban focus.
Following regulatory approval, the move is expected to go into effect in the third quarter of 2021. Nearly all Lasso employees are expected to transition into the new ownership structure.