Hartford health insurer Aetna said Tuesday that it has agreed to sell its Missouri Medicaid business to WellCare Health Plans Inc. for an undisclosed sum.
The sale of Missouri Care is related to Aetna’s proposed acquisition of Coventry Health Care, Inc., which operates a Missouri Medicaid plan called Health Care USA.
A combination of Missouri Care and HealthCare USA would exceed permissible membership thresholds under Missouri Medicaid contracts, Aetna said.
As a result, Aetna decided to sell Missouri Care because it is the smaller plan, serving about 100,000 members in Missouri. The sale is subject to regulatory approval.
Aetna plans to operate HealthCare USA, which has more 250,000 members in Missouri, when the Coventry acquisition is completed.
Aetna said it continues to expect that the Coventry acquisition to be completed in mid-2013.
