Blue Cross and Blue Shield to acquire Paramount Medicaid contract [The Blade, Toledo, Ohio]
Dec. 22—Anthem Blue Cross and Blue Shield on Wednesday announced the company had agreed to acquire a Medicaid contract held by Paramount Advantage, action that comes six weeks after a judge threw out a lawsuit alleging the state had improperly shut Paramount Advantage out of a lucrative managed-care contract.
In the announcement Wednesday,
The contract held by Paramount Advantage currently serves 256,000 Ohio Medicaid enrollees.
On
In a separate written statement,
The announcement stated that:
— Upon closing the transaction,
— Beginning
— Paramount Advantage's contract with the
Financial terms of the
Both Paramount Advantage and
"
"
"This transaction expands our commitment to further the Next Generation of Ohio Medicaid Managed Care in advance of the new Medicaid contract," he said.
The transaction is subject to approval by the
On
"
The company had challenged the department's selection of six competing companies to provide managed-care services for 3 million Medicaid clients as part of a total of
It contended the rules of the process were changed in midstream to rig it against regional companies in favor of national names with experience in multiple states, despite
The company also argued that the application reviewers were biased against it because in 2019 it had pointed out an error in patient assignment algorithms that it contended would have cost the company
The suit, filed in July, was an attempt to force the
The company had said 600 jobs could be at stake.
"
Ensuring quality care for members and minimizing local job losses have been top priorities for
"Entering into this agreement with
First Published
___
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