Triple-S Management Secures 2 Regions of Puerto Rico’s Medicaid Program

Triple-S Management Corp. reported that the Puerto Rico Health Insurance Administration (ASES by its Spanish acronym) issued a Notice of Intent to Award Contract informing its health subsidiary, Triple-S Salud, that it has been selected to provide healthcare services for the Metro North and West regions of the Government's health insurance program (Medicaid), known as Plan de Salud del Gobierno (PSG), on an at-risk basis commencing April 1, 2015.

According to a release from the Company, the proposed contract provides that ASES will pay Triple-S Salud a rate of $173.86 per member per month (pmpm) for the Metro North Region and $140.31 pmpm for the West Region. The proposed contract will have a 27-month term that could potentially be extended, subject to rate negotiations, by up to 12 months at ASES' discretion.

The PSG program, formerly referred to as MiSalud, serves more than 1.4 million members in eight regions across Puerto Rico, with approximately 428,000 members in the two regions awarded to Triple- S Salud

Ramon M. Ruiz-Comas, President and Chief Executive Officer of Triple-S Management commented, "We are extremely pleased to have once again been chosen by the government of Puerto Rico to participate in this vitally important health care program, leveraging our nearly two decades of experience with this patient population. We continue to believe that we can deliver high- quality, cost-effective care through our well-established provider network and fully anticipate that this contract will be accretive to 2015 earnings."

Triple-S Management is an independent licensee of the Blue Cross Blue Shield Association.

More information and complete details:

www.triplesmanagement.com

((Comments on this story may be sent to newsdesk@closeupmedia.com))