The “ideal partner” is turned to buy a non -health insurance company

what

Chearsource, CARESOURCE, a non -profit care organization based in Ohio, was obtained by Caresource, a non -profit care organization based in Ohio with more than 2 million members in 13 states.

As a result, the Commonwealth Care alliance will continue to operate the SAO and one care plans in Massachusetts under the Caresource of Brands family.

“The Care and Commonwealth Care Alliance Partnership ensures that Massachusetts residents with complex health needs are still getting high -quality health care,” Erhardt Preitauer, President and CEO of Caresource said in a statement.

• Read more: Members of the Commonwealth Alliance left in the dark in the midst of the financial crisis

Preitauer thanked the Executive Office for Health and Humanitarian Services and the Governor Mora Haley for their support throughout the acquisition.

“We look forward to cooperating with our CCA colleagues to build strong business relationships with partners in the Massachusetts provider and societies inviting patients to provide high -quality service and results for those who depend on us,” said Britoor.

What is wrong with CCA

CCA was founded in 2003, and it was historically considered as a leading model for the combination of insurance and health care for the Medicaid/Medicare Crossover residents. Non -profit institutions coordinate the medical and social services of individuals, including physical and professional therapy, home care, personal care, behavioral health, transportation to appointments and more.

But things have begun to collapse in recent years. The state’s records indicate that the organization suffered from millions of operational losses: $ 14.3 million in 2022 and 105.8 million dollars in 2023. Last October, indicating financial turmoil, CCA announced that it will come out of all Medicare Advantage plans in California, Michigan and Road Island and mainly focuses on major care options (Sco)

The Masslive Show Masshealth notifications began to warn CCA in October that it was not compatible with the requirements of the solid reserves. The notifications that were directed to the president and CEO Christopher Palmei were mentioned.

Masshealth CCA wrote “Get less than zero criticism at hand during the first quarter of (Calculation Year) 2025.”

CCA members told Masslive that the coverage loss will be destroyed. In March, Amanda Stortavant, a resident of Lodlo, who uses a wheelchair and sees home health help twice a week, said she could not imagine to start again with a new insurance and care plan.

“If I lose CCA and lose aid, I will be alive, but it will be difficult,” she said at that time. “Some of these people will not survive.”

CAResource was described as CCA values

CCA was actively looking for the buyer in recent months. The deal was closed with Caresource this week.

“When we searched for a strategic partner, CCA gave priority to finding an organization that shares our values, and will enhance care for those who supervise their service,” David Klein, outgoing chairman on CCA, said in a statement. “Caresource is the ideal partner for long -term sustainability for CCA, with contracts for experience in complex care management and unique focus on members.”

Boston Globe stated that the state has agreed to reduce any of the potential losses of Caresource for two years, and if Caresource won more than 2 % margin during that time, the money will be used to pay the Masshealth funds it owes from CCA.

Caresource may already sport a 4700 workforce, and CCA will be used by Caresource, “Ensuring the continuity of care for members and patients.”

The president and CEO of CCA Chris Palmiri resigned from the organization this week as part of the transition.