HEALTHNOW’S ACQUISITION OF BROKERAGE CONCEPTS, INC.,
Approved by New York State Department of Insurance
Clients of both will benefit from combination of experience, products and services
(BUFFALO, NY) — HealthNow New York Inc., parent company of BlueCross BlueShield of Western New York and BlueShield of Northeastern New York, announced today the New York State Department of Insurance has approved the company’s acquisition of Brokerage Concepts, Inc. (BCI) business and operations.
BCI is one of the largest privately held group and individual insurance brokerage companies in the United States and provides benefits administration for over 5,000 client companies representing more than 900,000 participants in medical, dental, vision, life and disability insurance plans. BCI also provides COBRA and flexible spending account management services, as well as third-party administrator and brokerage services for employer group benefit needs nationwide.
Finalization of the approval process translates to significant benefits for clients of both companies. The alliance significantly expands HealthNow’s ability to meet the needs of self-funded clients and brokers and brings more than 70 years of healthcare experience as well as access to the national and international networks of Blue plan providers and hospitals to BCI’s clients.
Founded in 1977, Brokerage Concepts, Inc. employs more than 350 people and has headquarters in King of Prussia, PA, with offices in Warminster and Philadelphia, PA; Waltham, MA; Dover, DE; and Deerfield Beach, FL. BCI’s business will continue to be operated under its current management. Under this new business alliance there will be no anticipated changes to BCI’s management and staff and no disruption of service to clients.
About HealthNow New York Inc.
HealthNow New York Inc. does business as BlueCross BlueShield of Western New York, BlueShield of Northeastern New York, and HealthNow in the central New York, and operates a Medicare claims processing division. Headquartered in Buffalo, NY, HealthNow is one of the Northeast’s leading healthcare companies with annual revenues exceeding $2 billion. BlueCross BlueShield of Western New York and BlueShield of Northeastern New York is an independent Licensee of the BlueCross BlueShield Association.
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