Tufts And Harvard Pilgrim Merge, Move Headquarters To Canton
CANTON, MA — Tufts Health Plan and Harvard Pilgrim Health Care announced the finalization of their merge on Monday and plan to move to a new headquarters in Canton later this year.
The companies received all regulatory approvals as of Jan. 1 and will become one of the region's largest health services organizations, according to a news release published Monday. A new name for the organization will be announced in the second quarter of 2021.
The new organization will serve approximately 2.4 million members and the two companies predict that $100 million in savings from the merge will be applied to lessen costs for members.
"The combination brings together the expertise of two great companies with rich legacies, and strongly preserves nonprofit health insurance coverage in our region," said Tom Croswell, CEO of the new organization and former president and CEO of Tufts Health Plan, in a statement. "We will build upon our unwavering commitment to serve the needs of our diverse communities and our members, regardless of age, health, race, identity or income."
The companies said their goals for the new organization include providing access for all, innovative parents and perspectives, improved experiences, and seamless health navigation while prioritizing the integration of medical and behavioral health management.
"Built on the strong foundation and history of both organizations, Harvard Pilgrim and Tufts Health Plan bring together two of New England's leading and innovative nonprofit health services organizations with decades of dedication to serving their members and communities," said Michael Carson, president of the new organization and former president and CEO of Harvard Pilgrim, in a statement.
"We are excited and eager to start this journey as one organization with a vision of transforming how health care is accessed, aligning a fragmented system and guiding our members and communities to better health and better health care experience," he continued.
The new combined organization will continue to support pandemic relief, racial justice efforts, and other community programs through making important investments. The companies said an initial investment of $1 million will be made to support education, awareness, and outreach related to the COVID-19 pandemic, specifically in communities where the virus has had a disproportionate impact.
Although the organizations have officially merged, the companies said both heritage brands and products will remain in the market for some time and member benefits, programs, and services will not change in 2021.
This article originally appeared on the Canton Patch
