Updated: 05/28/2014 1:20 PM |
Created: 05/28/2014 12:32 PM
By: The Associated Press
ALBUQUERQUE (AP) - New Mexico's largest commercial health insurer is expanding.
Blue Cross and Blue Shield of New Mexico announced Wednesday it has obtained final regulatory approval for its acquisition of Lovelace Health Plan and Lovelace's Medicare Advantage contract.
Blue Cross and Blue Shield of New Mexico has 400,000 members, and the insurer says it'll pick up nearly 100,000 additional members from Lovelace Health Plan.
The Lovelace members include ones belonging to individual, small and large group, and self-funded employer plans, as well as its Medicare Advantage plans.
Blue Cross and Blue Shield of New Mexico says the transaction is expected to be complete Sunday.
This acquisition does not include Lovelace's hospitals, providers, pharmacies or clinics.
(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)