Capital BlueCross announced on Wednesday its agreement to acquire a majority interest in Lower Paxton Township-based Vibra Health Plan. The transaction expands the Capital BlueCross family of companies and its growing presence in the Medicare program, Capital BlueCross said in a press release.
Vibra Health Plan launched its Medicare Advantage product in October of 2016, focusing solely on Medicare-eligible customers. It will retain its name and overall operations in the Harrisburg area.
Vibra Health Plan currently serves 17 counties in central Pennsylvania, the Lehigh Valley, and the Scranton-Wilkes-Barre region with plans for expansion in the coming years, the press release said.
The transaction is subject to regulatory approval.
Vibra Health Plan’s customers will continue to experience the same support and coverage, the press release said.
In March of 2015, Michael Fiaschetti and Brad Hollinger launched the Vibra Health Plan. In September, the Vibra Health Plan was approved to sell insurance for 2017, for the enrollment period that began in October 2016 and ended in December.
Fiaschetti told PennLive in November that in addition to the company’s focus on the medicare consumer, that the two other keys to the Vibra Health Plan are the company’s Member Advocate Program and its goal of “first call resolution” where the company aims to resolves problems on the first call. In its Member Advocate Program, each client is assigned their own representative who will offer one-on-one assistance with health-related issues.
Date: January 31, 2017