MM Curator summary
[ MM Curator Summary]: CareSource will team up with TrueCare to try and win new business in MS.
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CareSource has a business deal with a Mississippi insurance plan to jointly bid for a contract with the state’s Medicaid department.
CareSource, a Dayton-based insurance company, said in an announcement Dec. 2 that it intends to submit a bid with TrueCare, seeking a contract to manage plans for the Mississippi Coordinated Access Network (MississippiCAN) and Children’s Health Insurance Program (CHIP) when the request for qualifications is released by the state.
CareSource president and CEO Erhardt Preitauer said in a statement that with TrueCare “we have an opportunity to be an innovative, sustainable partner to the state that will make a lasting difference in the health and well-being of Mississippians while driving better quality and outcomes.”
CareSource already covers 2 million people in Georgia, Indiana, Kentucky, Ohio and West Virginia and is part of a team approved as a new option in Arkansas covering people with complex behavioral health and individuals with intellectual and developmental disabilities.
The insurer makes its money primarily through government contract work, especially through state Medicaid programs. The biggest contracts that states typically award are given to insurance companies that agree to manage benefits and pay claims for people getting health insurance through the state’s Medicaid program.
CareSource has had several existing contracts up for bid this year as well as a handful of proposals to expand into new ones.
It recently was once again selected as a contractor to work with Ohio Medicaid, which has been its main source of revenue.
The company had bid to expand to Oklahoma but was not awarded a contract. In August, the insurer submitted a bid to keep managing Medicaid plans in Indiana and is expecting to hear an answer early 2022.
In October, the insurer announced plans to bid to manage Medicaid plans in Iowa.