UnityPoint Health and HealthPartners plan to jointly launch a new insurance company, offering individuals and employers a new integrated option when it comes to their health care and coverage.
The partnership, named “HealthPartners UnityPoint Health,” will leverage the best of both companies: UnityPoint Health’s network of providers and HealthPartners’ scale, health plan sophistication, and expertise. The parties will equally own and govern the insurance entity.
The goal of the joint venture is to offer greater consumer choice beginning with competitive Medicare Advantage plan options in Iowa and Illinois that support the triple aim – which seeks to improve health, patient experience, and affordability. The new company will accelerate both organizations’ ability to improve care and coverage for the members and communities they serve.
HealthPartners UnityPoint Health is seeking insurance licenses in Iowa and Illinois and it plans to launch operations in 2016, pending regulatory approvals. Initial products of the joint venture will include Medicare Advantage (pending approval) for the plan year beginning January 1, 2017, with the potential for additional products.