Premera announces approval of Soundpath Health Medicare Advantage contract acquisition

On Monday morning, Premera Blue Cross announced the approval for its acquisition of Soundpath Health’s Medicare Advantage program contract.

Soundpath currently provides Medicare Advantage benefits to more than 22,000 Medicare-eligible customers in the state. With the acquisition of their contract, and the onboarding of Soundpath membership, Premera Blue Cross is set to increase its customer base from 18,000 to over 37,000 customers.

“With the addition of the SoundPath members, Premera will be largest Medicare Advantage Plan in Washington, headquartered here locally,” said Tracy Bos, Director and General Manager of Senior Markets at Premera Blue Cross, “And that makes us really proud. It really aligns well with who we are as Premera and we are excited to offer that service to more members.”

Medicare Advantage plans are offered through private companies approved by the Centers for Medicaid and Medicare Services (CMS). Medicare Advantage plans often offer additional services and benefits along with those offered under Medicare Parts A and B.

The official approval from CMS comes after Premera Blue Cross originally announced plans for the acquisition of the Soundpath contract at the end of June.

Plans will be offered in King, Snohomish, Pierce, Whatcom, Skagit, Spokane, Thurston, Stevens, and Lewis Counties with the acquisition become effective January 1, 2019.