After Aurora Health Care merges with Advocate Health Care of Illinois, the health care system will maintain 50 percent ownership of an insurance company Aurora launched in 2016 with Anthem Blue Cross and Blue Shield.
The insurance company, known by the brand name Well Priority, promises discounts of 10 percent or more in exchange for employers and their staffs using the company’s network hospitals and clinics including Aurora’s. Wisconsin Collaborative Insurance Co. launched its sales pitch in mid-2016 with new group plans that were scheduled to start Jan. 1, 2017.
The cost savings are made possible by managing population health and sharing clinical and claims data, executives with Anthem and Aurora said when they announced Well Priority in April 2016. Each organization contributed $5 million to the $10 million in startup capital for the product.
In their planned merger, Milwaukee-based Aurora Health Care and Advocate Health Care, of Downers Grove, Ill., will create a new company called Advocate Aurora Health Care. Advocate Aurora will be the corporate parent of Aurora Health Care, which will retain 50 percent of the stock with Anthem continuing to hold the other 50 percent, according to a filing posted Tuesday to the Wisconsin Office of Commissioner of Insurance (OCI) website. Read the full story here.