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The Health Plan Sells Workers’ Comp Divisions

The Health Plan has sold its Managed Workers’ Compensation Program and Workers’ Compensation third-party administrator service lines to Paramount Health Care, officials said Monday.

The deal was being finalized Monday. The sale price was not disclosed.

Tedra J. White, Paramount’s director of public relations, said Paramount will retain 20 employees from The Health Plan. “Those individuals will continue to work from West Virginia,” she said.

The Health Plan is scheduled to move its workforce later this year from a current site in St. Clairsville to new headquarters under construction in the 1100 blocks of Main and Market streets in downtown Wheeling. Approximately 70 employees of the insurer are already working in Wheeling, in leased space in the former Horne’s building, which is adjacent to the new office building.

Regarding the sale of the two service lines, Jim Pennington, president and CEO of The Health Plan, said, “When evaluated, we determined our workers’ comp divisions were not instrumental in our overall vision of growth across West Virginia and Ohio. During the past year, we searched for a strategic partner for our workers’ comp divisions that would allow our clients and employees to grow. We found that partner with Paramount.”

Pennington added, “The Health Plan continues to be a leader in West Virginia and Ohio with a strong focus on Medicare, Medicaid and employee benefits for fully insured large and small groups.”

Pennington could not be reached for further comment on the percentage of business that the two service lines represented for the company.

Jack Randolph, president of Paramount, said, “We are very pleased to be expanding our workers’ comp-focused business units and acquiring these business divisions.”

Randolph said, “Paramount continuously strives to exceed our customers’ needs and expand our offerings to serve more employer groups and members.”

Paramount Health Care is a health insurance company located in Maumee, Ohio. Established in 1988, it is the largest health maintenance organization in Northwest Ohio. It is a member of Toledo-based ProMedica, a mission-based, not-for-profit health care organization serving Northwest Ohio and Southeast Michigan.

Health Management Solutions, which is Paramount’s managed care organization for workers’ compensation, is Ohio’s fifth-largest such organization.

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