- Mayo Clinic Health System has sold Health Tradition Health Plan, an HMO plan, to WEA Insurance Corp., which is owned by WEA Trust.
- WEA Insurance's Health Tradition plan will offer coverage for Wisconsin state and municipal employees and Medicare members, as well as employer plans for small and large companies.
Rochester, Minn.-based Mayo Clinic Health System has sold Health Tradition Health Plan, an HMO plan, to WEA Insurance Corp., which is owned by WEA Trust.
The deal saved Health Tradition Health Plan from closure. The health plan was set to shut down due to the challenges of maintaining a small plan amid the uncertainty of the insurance environment.
With the acquisition completed, WEA Insurance’s Health Tradition plan will offer coverage for Wisconsin state and municipal employees and Medicare members, as well as employer plans for small and large companies.
“We are excited for this next step in our journey and to continue to provide high-quality provider access through the Health Tradition Health Plan” said Mike Quist, WEA Trust president and CEO. “Throughout the past 10 years, WEA Trust has transformed into an innovative, member-centric company. This new opportunity allows us to bring the same innovations and our top-rated customer service to another health plan in the state.”
Date: May 23, 2018