Health Plans, Inc., a Harvard Pilgrim Health Care Company, Acquires the Assets of Benefit Plan Management, Inc. a regional Third Party Administrator
May 2, 2006
(Wellesley, MA) Health Plans, Inc., a Harvard Pilgrim Health Care company, today announced the acquisition of the assets of Benefit Plan Management, Inc., a regional third party administrator (TPA) based in Norwell, Massachusetts. Benefit Plan Management, Inc. offers quality medical, dental and vision benefit plan administration and outstanding customer service to more than 30,000 members in Massachusetts.
“We are thrilled that the experienced professionals at Benefit Plan Management, Inc. will be joining our organization,” said Bill Breidenbach, President of Health Plans, Inc. “The acquisition of assets of Benefit Plan Management, Inc., a top-notch benefits administration firm, will further strengthen our ability to serve the many businesses that have chosen to self-insure and want custom-designed plans.”
Both Health Plans, Inc. and Benefit Plan Management, Inc. have been successful at swiftly developing customized products and services for businesses with as few as 70 employees to those that have well over 2,000 employees. Their TPA services include medical and dental claim processing for self-insured benefit plans, reinsurance coordination, self-insured short-term disability programs, case management services and flexible spending plans.
“It is important to offer employers the option of developing products and services for the growing self-insured market,” said Charles D. Baker, President and CEO of Harvard Pilgrim. “Adding to our roster of seasoned health insurance specialists, the expertise of the management team and employees of Benefit Plan Management will further enhance our capacity to offer a full range of health benefit options and solutions to employers of New England.”
Health Plans, Inc. is the largest TPA in New England and is a Harvard Pilgrim company. Harvard Pilgrim and its subsidiaries and affiliates provide a variety of benefit options and funding arrangements in New England to approximately 955,000 members. In addition, Harvard Pilgrim and its affiliates arrange for specialty pharmacy services to approximately 130,000 members.
“We are excited to join the team at Health Plans, Inc. and Harvard Pilgrim,” said Jack Keith, Jr., President of Benefit Plan Management, Inc. “Our clients will continue to receive the first-rate service they have come to expect from us, which will only be enhanced by Harvard Pilgrim’s and Health Plans, Inc.’s strong market recognition and commitment to customer service and operational excellence.”
Harvard Pilgrim is rated the #1 health plan in America for both member satisfaction and clinical quality, according to a joint ranking by U.S. News & World Report and the National Committee for Quality Assurance (NCQA). The October 10, 2005 edition of U.S. News & World Report magazine ranked, for the first time, the nation’s best health plans and determined that Harvard Pilgrim leads the country for member satisfaction and quality of care. This was the second year in a row that the NCQA determined that Harvard Pilgrim was the nation’s top-performing health plan in terms of quality of care and member satisfaction. J.D. Power and Associates has also recognized Harvard Pilgrim as a Distinguished Health Plan for providing “An Outstanding Member Experience” to its HMO members in Massachusetts, New Hampshire and Maine. The PPO plan offered by Harvard Pilgrim in Massachusetts has been recognized for its commitment to excellence by the J.D. Power and Associates Distinguished Health Plan Program.SM Harvard Pilgrim provides innovative approaches to health improvement and disease management, unique online tools that speed and simplify key transactions for employers, brokers and providers and personalized health support.
* The source for this data is Quality Compass® 2005 and is used with the permission of the National Committee for Quality Assurance (NCQA). Quality Compass is a registered trademark of NCQA. NCQA is a private, non-profit organization dedicated to improving health care quality.