Elevance Health is set to acquire Blue Cross and Blue Shield of Louisiana, incorporating the state insurer into Anthem Blue Cross-affiliated plans. The acquisition strengthens their existing partnership, enhancing services such as Healthy Blue for Medicaid and dual-eligible beneficiaries. Elevance Health’s subsidiary, Carelon, will aid BCBSLA in improving access and quality for its 1.9 million members. The deal will maintain BCBSLA’s Baton Rouge headquarters and establish the Accelerate Louisiana Initiative to address state-specific health needs, pending regulatory approvals.
Elevance Health has recently agreed to acquire Blue Cross and Blue Shield of Louisiana, with the Louisiana-based insurer becoming part of the Anthem Blue Cross affiliated plans.
This acquisition marks an extension of the pre-existing collaboration between these two insurance companies. They jointly own Healthy Blue, a program catering to Medicaid and dual-eligible beneficiaries.
Moreover, the integration will enable BCBSLA to expedite its efforts toward enhancing accessibility, affordability, and quality for its 1.9 million members. This progress will be facilitated through the expertise of Elevance Health’s subsidiary, Carelon. Over the past years, Carelon has received investments exceeding $4 billion, which have been directed toward developing behavioral health initiatives, complex and chronic care programs, as well as digital health models.
Gail Boudreaux, CEO of Elevance Health, stated, “By combining the strengths of Elevance Health and Blue Cross and Blue Shield of Louisiana, we can offer tailored services that cater to the specific needs of Louisiana residents. Our holistic approach to whole health aligns with our shared mission, and we are enthusiastic about introducing our innovative solutions to benefit BCBSLA’s members, thereby establishing ourselves as enduring and dependable health partners.”
Following the successful completion of the acquisition, BCBSLA’s headquarters will continue to operate from Baton Rouge. Additionally, the two companies are set to establish the Accelerate Louisiana Initiative, a foundation with a multibillion-dollar funding, dedicated to addressing the distinct health requirements of the state’s population.
The acquisition is anticipated to be finalized later this year, subject to obtaining regulatory approvals. I. Steven Udvarhelyi, M.D., CEO of BCBSLA, expressed, “For nearly nine decades, Blue Cross and Blue Shield of Louisiana has been a robust and dynamic entity, serving the people of Louisiana. However, to maintain our strength in the contemporary landscape and to deliver cutting-edge innovations, products, and capabilities, we recognized the need for a partner who could facilitate these advancements more efficiently than we could on our own.”
Udvarhelyi further added, “Teaming up with Elevance Health—a national healthcare entity that has been our trusted collaborator since 2017—will empower us to accelerate our mission of enhancing the health and well-being of the people of Louisiana.”
