Two nonprofit Blue Cross and Blue Shield carriers are planning to team up.
Blue Cross and Blue Shield of Michigan Mutual Insurance Company has agreed to acquire Blue Cross and Blue Shield of Vermont through an affiliation arrangement, the carriers announced Monday.
The agreement would involve no exchange of cash, the carriers said.
What It Means
Clients with health coverage in Vermont may end up in health plans with new features.
The Carriers
Michigan Blue is a Detroit-based organization that was founded in 1939 and now has 5.2 million enrollees.
The company lost $374 million in 2021 on $32 billion in revenue, according to the company's annual report.
Vermont Blue is a Berlin, Vermont-based carrier with about 230,000 enrollees. It was founded in 1944 as part of Blue Cross and Blue Shield of Vermont and New Hampshire. It split off from the New Hampshire plan in 1981.
