Health insurer Centene and non-profit health system Ascension have signed a letter of intent to explore a joint venture to develop a Medicare Advantage plan.
The plan would be offered in multiple geographic markets beginning in 2020.
"We are pleased to pursue this joint venture with Ascension to create a differentiating offering for Medicare Advantage across multiple markets," said Michael Neidorff, chairman and CEO of Centene. "This joint venture will bring together two leaders with decades of experience across markets and creates an opportunity for scaled payer-provider collaboration. We share a commitment of serving the underserved and intend to leverage the best capabilities of both organizations to provide high quality, affordable healthcare to support the needs of low-income seniors."
Anthony Tersigni, president and CEO of Ascension, said: "Working with Centene to create a new Medicare Advantage plan aligns with our mission of serving those who are vulnerable and struggling the most, which all too often includes our seniors."
"We look forward to developing innovative, transformational approaches to serve this growing population in the many communities we serve as part of our advanced strategic direction," Tersigni added.
Centene, Ascension, Medicare Advantage plan, Joint venture, Insurance, Health, US