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In November 2012, Wellcare acquired Easy Choice Health Plan in California. [26] UnitedHealthcare's South Carolina Medicaid business was acquired in February 2013. [27] In April of that year, Aetna's Medicaid business in Missouri, Missouri Care, was acquired. [28] The Windsor Health Group was acquired by WellCare in January 2014. [29] [30]
Blue Shield of California is a mutual benefit corporation and health plan [6] [7] founded in 1939 by the California Medical Association. It is based in Oakland, California, and serves 4.5 million health plan members and more than 65,000 physicians across the state. Blue Shield of California was founded as a not-for-profit organization.
In 1752, Benjamin Franklin founded the first American insurance company as Philadelphia Contributionship.In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail.
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Facing mounting losses from paying out California claims, insurance giants, including Allstate, State Farm, and Farmers, have either pulled out of the state entirely in recent years or limited the ...
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In 1992, WellPoint was formed to operate Blue Cross of California's managed care business. [25] In January 1993, Blue Cross of California spun off its managed care business into a publicly traded entity, WellPoint Health Networks Inc. Blue Cross of California retained an 80% interest and voting control. [26] [27]