Anthem Blue Cross and Blue Shield of Ohio stated that it has agreed to purchase the contract held by Paramount Advantage, which now covers 256,000 Medicaid members in Ohio. Anthem was recently awarded a statewide contract to serve Medicaid beneficiaries across all populations as a new entrant to the program, and the transaction is expected to close before the anticipated July 1, 2022, implementation date of Ohio’s new Medicaid managed care program.
DistilInfo HIGH FIVE
1. Contract:
Paramount Advantage’s contract with the Ohio Department of Medicaid runs through June 30, 2022, and provides healthcare services to eligible recipients for Aged, Blind, or Disabled and Covered Families and Children, including Healthy Start and Healthy Families and Adult Expansion, Medicaid benefits. Upon closing the transaction, Anthem Blue Cross and Blue Shield will begin administering benefits for these members in coordination with Paramount Advantage during a transitional period.
2. Operations:
Beginning July 1, 2022, Anthem will provide all aspects of operations related to the new Ohio Medicaid managed care program, including for current members of Paramount who remain with their current plan, in addition to any members assigned to Anthem as a result of its entry into the Ohio Medicaid managed care program, and other beneficiaries who elect to enroll with Anthem.
3. Healthcare:
“Anthem has served the whole-health needs of Ohioans for more than 81 years and we look forward to expanding access to comprehensive, high-quality healthcare services for more Medicaid-eligible individuals,” said Greg LaManna, Anthem Blue Cross and Blue Shield’s Medicaid President in Ohio. “This transaction expands our commitment to further the Next Generation of Ohio Medicaid Managed Care in advance of the new Medicaid contract.”
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4. Obligations:
Anthem Blue Cross and Blue Shield will purchase Paramount Advantage’s rights and obligations in respect to its contract with the Ohio Department of Medicaid. The transaction is subject to approval by the Ohio Department of Medicaid (ODM) and filings with certain federal and state agencies. The financial terms of the transaction were not disclosed.
5. Commitment:
“Anthem Blue Cross and Blue Shield share Paramount’s commitment of investing in Ohio communities, improving lives and well-being, and focusing on care for the whole person,” said Lori A. Johnston, president of Paramount Health Care. “Paramount has been honored to serve our Medicaid members over the years. We believe that out of the managed care organizations chosen for the new Ohio Medicaid contract, Anthem is best suited to continue providing access to the high-quality healthcare and support services that our members have come to expect.”
