Froedtert Health has recently announced its acquisition plans to take over Ascension Wisconsin’s interest in Network Health. Network Health is an insurance company that offers Medicare and Medicaid services to employers, individuals, and families in over 23 countries over Wisconsin.
Ascension Wisconsin has joined hands with Froedtert Health as a 50-50 partnership and will make Froedtert Health the sole owner as a Wisconsin-based insurer. Ascension Wisconsin is one of the best non-profit Catholic Health systems that has been helping people since 1848.
Froedtert Health has had a long line of medical colleges and hospitals since 1893. It is an integral healthcare system providing various health-related services to society. This includes hospitals, health centers, laboratories, home care, health insurance, workplace health clinics, and digital health solutions.
Network Health not only has a great network of services but also has been awarded a 5 out of 5-star ratings by CMS in 2023 and 2022. Centers for Medicare & Medicaid Services awarded this recognition based on Network Health’s Medicare Advantage PPO plans and ACA Plans.
Froedtert Health released a statement on 3rd September 2023, stating that the dates for acquisition are yet to be determined. This will happen after the regulatory review and approval.
CEO and President of Foerdtert Health says that the 100% acquisition of Network Health will boost their mission of providing health care to diverse communities. The healthcare system is continually working towards innovation and discovery for the healthcare industry.
Also, with their health insurance plans, Froedtert Health is set to offer top-quality healthcare packages for more people at the right time and the right place.
With the acquisition in the picture, the Network Health system will not be facing any adversity regarding their work. Ascension Wisconsin will also be extending its insurance packages to its customers post-closing so that they can be transferred to Network Health’s system.
Types Of Medical Insurance
As a responsible citizen and family member, you must have medical insurance for yourself and your family. Health insurance is very beneficial to saving expenses when you are met with an uncertain situation or have encountered a chronic disease. Have a look at the types of medical insurance plans that can help you and your family in the future.
Health Maintenance Organizations (HMOs)
This is the bare minimum plan you can get for routine check-ups and consultations with network-provided doctors. The paperwork in this plan is easy compared to other plans. With this plan, there is the least freedom to see the doctor of your choice.
Preferred Provider Organisations (PPOs)
With this plan, you can have a say in which doctor or healthcare provider you want to choose for your treatment. The plan covers the consultation fees and you can file a claim to pay back if you see out-of-network providers.
Exclusive Provider Organisations (EPOs)
This plan also gives you the freedom to choose your healthcare providers and comes with a lower premium plan compared to PPOs. Also, there is little to no paperwork involved in this plan. Some of these plans apply to deductibles depending on the case.
Point Of Service Plan (POS)
This plan features a blend of HMO and PPO with more freedom to choose the healthcare provider for your treatment. Deductibles and claims apply to this plan and you are assigned a primary care doctor who will co-ordinate with your choice of healthcare provider.
This is ideal for individuals below the age of 30 and offers a lower premium. You can access free primitive care without the deductible and free care visits 3 times before the deductible applies.
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