Blue Cross of Alabama has been buying up small regional TPA’s and rebranding under the name 90 Degrees Benefits. Blue Cross of North Carolina owns a TPA too. Now we see more BCBS plans entering the TPA market. Here’s the latest……
By Bruce Japsen
Health Care Service Corporation, the parent of Blue Cross and Blue Shield health plans in five states, is buying Trustmark Health Benefits, an administrator and designer of employer health benefits, for an undisclosed amount.
The agreement between Health Care Service and Trustco Holdings to buy its wholly owned subsidiary, Trustmark Health Benefits, comes during a period of renewed merger and acquisition activity among health insurers to expand their businesses. In particular, Trustmark Health Benefits, is a “third-party administrator” that will add to Health Care Service’s “capabilities to serve self-funded employers,” the companies said Thursday in an announcing the deal.
“The acquisition will provide HCSC with additional capabilities to serve a broader set of customers seeking customizable and flexible health benefit solutions,” Health Care Service and Trustmark said.