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Tulsa, OK — Hillcrest HealthCare System (HHS) today announced it has reached a definitive agreement with Health Care Service Corporation (HCSC) through its Blue Cross and Blue Shield of Oklahoma (BCBSOK) division to acquire Lovelace Medicare Plan of Oklahoma. The transaction, subject to regulatory approvals and other closing conditions, is anticipated to close approximately December 31. The Lovelace Medicare Plan of Oklahoma (LMPOK) was introduced to Oklahoma in 2011 as a service of Hillcrest HealthCare System.
HHS and BCBSOK have a long history of working together to address health needs in the community, which will allow LMPOK members a seamless transition. The vast majority of Lovelace Medicare Plan's providers and hospitals are already part of the BCBSOK network. And, Hillcrest HealthCare System's six hospitals and two physician groups have entered into a long-term provider agreement with BCBSOK to ensure continuity in members' care. LMPOK's members will not experience any benefit changes throughout 2013. Individuals currently enrolled in Lovelace Medicare Plan of Oklahoma or who select Lovelace Medicare Plan of Oklahoma during the current open enrollment period will see enhanced benefits in 2014, which will be honored by BCBSOK. Once the acquisition becomes final, members will also gain access to BCBS' wide array of capabilities, including its BlueCard® program which offers one of the nation's most extensive provider networks and discount programs for health and wellness services.
"Blue Cross and Blue Shield of Oklahoma is a proven and trusted local partner," said Kevin Gross, President & CEO of Hillcrest HealthCare System and Lovelace Medicare Plan of Oklahoma. "We have worked closely with BCBSOK for many years and are confident that our members will benefit from this acquisition. This transaction will allow Hillcrest to focus on our core mission: providing compassionate, innovative and high-quality health care."
"We have a longstanding relationship with Hillcrest HealthCare System, and we are pleased that they viewed Blue Cross and Blue Shield of Oklahoma as the right partner for its Lovelace Medicare Plan of Oklahoma members," said Ted Haynes, President of Blue Cross and Blue Shield of Oklahoma. "We are eager to welcome these members to our family, and we look forward to serving them through the same physicians and providers they have come to know and trust, as well as delivering the hallmark of customer service that Blue Cross and Blue Shield of Oklahoma members rely on."
The acquisition of the Lovelace Medicare Plan of Oklahoma will allow Blue Cross and Blue Shield of Oklahoma to begin offering a Medicare Advantage Plan to customers in the greater Tulsa area. Currently, Blue Cross and Blue Shield of Oklahoma has a Medicare Advantage Plan in the Oklahoma City area, and offers Medicare Supplement Insurance Plans and Medicare Part D Drug Plans to all Oklahomans.
Today, LMPOK insures nearly 1,500 lives in eight counties, including, Creek, Mayes, Muskogee, Oklahoma, Okmulgee, Payne, Rogers and Tulsa.