WAUSAU, WI (WSAU) — Aspirus health service is planning to take full ownership of their health plan.
The Aspirus Arise Health Plan was originally a joint venture between Aspirus and WPS Health Solutions in 2016. But soon the venture will just be an Aspirus owned health plan. Currently Aspirus shares ownership of the health plan with WPS Health Solutions.
Senior Vice President of Finance and CFO for Aspirus Sid Sczygelski explains WPS asked Aspirus to take ownership of the plan due to potential conflicts of interest. “WPS does have contracts with CMS and other federal agencies. And they perceived their joint venture ownership with Aspirus in the health plan as a potential conflict of interest. So they reluctantly sold the plan and remaining ownership interest in the plan to us.”
At this time the plan is owned by both organizations. Sczygelski says Aspirus and WPS are in the process of transferring sole ownership over to Aspirus. “We are currently seeking approval of the Office of the Commissioner of Insurance for the transaction. The State of Wisconsin Office of Commissioner of Insurance has authority over this kind of transaction. And once we get approval from them the plan will close retroactive to January 1st, 2019.”
While WPS will no longer have ownership of the plan, they will continue to work with Aspirus. Sczygelski describes the continued working relationship between the two organizations. “They will process claims for us and do other administrative services. As well as provide actuarial services for the plan.”
Ownership may be changing with the health plan, but that’s about it. Anything else with the health plan will remain the same outside of who owns the plan. Moving forward Sczygelski says Aspirus will continue to have a continuum of care from the health plan to hospital stays to clinic visits.
Plans for the Aspirus Arise Health Plan including continuing to grow the plan as it is relatively new on the market. Aspirus will also look to add new products in the future like Medicare Advantage.
