UnitedHealth Group has completed its acquisition of Health Net Inc.”™s Northeast operations based in Shelton, saying it had received all regulatory stamps required to seal the deal.
UnitedHealth paid $350 million for Health Net of the Northeast. The deal includes provisions for UnitedHealth to pay up to $280 million more depending on how many Health Net members renew policies under UnitedHealth.
UnitedHealth owns Trumbull-based Oxford Health Plans Inc., and has yet to give details on how it will combine the two operations. As Health Net”™s commercial customers in the Northeast reach renewal dates, UnitedHealthcare ”“ a UnitedHealth Group company ”“ said it will work to enroll them in a comparable Oxford or UnitedHealthcare plan.. Until members are enrolled in a replacement plan, their current Health Net benefits remain in effect under their existing Health Net contracts, and there will be no interruption to coverage or payments during the transition period.
“The only problem is that every one of those consumers always had the option of choosing United for their health care and rejected them,” said Ellen Andrews, executive director of the New Haven-based Connecticut Health Policy Project, in a blog following the announcement. “It is not clear that United was everyone”™s second choice.”
UnitedHealth directed commercial members with questions to call its representatives at 800-357-1371, or Health Net”™s representatives at 800-441-5741.
