WEA Insurance Corporation and Mayo Clinic Health System announce sale of Health Tradition Health Plan
Purchase will expand Mayo Clinic Health System access in Southwest Wisconsin
Madison, Wis. – WEA Insurance Corporation, owned by WEA Trust, and Mayo Clinic Health System announced today the purchase of Health Tradition Health Plan, an HMO plan owned by Mayo Clinic Health System. Through this acquisition, WEA Insurance Corporation will expand their market to serve both the public sector through the WEA Trust health plan, and the private sector through the Health Tradition Health Plan, while continuing to maintain a strong relationship with the Mayo Clinic Health System.
“We are excited for this next step in our journey and to continue to provide high-quality provider access through the Health Tradition Health Plan” said Mike Quist, WEA Trust President and Chief Executive Officer. “Throughout the past ten years, WEA Trust has transformed into an innovative, member-centric company. This new opportunity allows us to bring the same innovations and our top-rated customer service to another health plan in the state.”
The agreement was a natural step for both companies—serving as a way to expand the WEA Insurance Corporation market and retaining access to Mayo Clinic for Wisconsin residents for the health system. The purchase also fulfills a need to ensure multiple health insurance options for the western and southwestern Wisconsin regions.
“This is good news for patients and employers in this region as it creates another choice for people who wish to receive their care at Mayo Clinic Health System locations in Wisconsin,” said Joe Kruse, Regional Chair Administration, Mayo Clinic Health System. “Our organization has a longstanding, positive relationship with WEA Trust, which has extensive experience in providing high-quality health plans.”
The Health Tradition Health Plan was originally set to close due to the challenges of maintaining a small plan with uncertainty in the health care and insurance environment. WEA Insurance Corporation will provide a similar version of the successful Health Tradition plan to the marketplace, offering coverage for Wisconsin state and municipal employees, employer plans for both small and large companies, and Medicare members (65Plus).
The WEA Trust provides group health insurance and administrative services to public employers throughout Wisconsin. The not-for-profit WEA Trust was created in 1970 to serve Wisconsin school district employees. Today, the WEA Trust offers its top-rated service and quality benefits to all state, county, and municipal groups. Find out more at www.weatrust.com .
Mayo Clinic Health System consists of clinics, hospitals and other health care facilities that serve the health care needs of people in 60 communities in Iowa, Minnesota and Wisconsin. The community-based providers, paired with the resources and expertise of Mayo Clinic, enable patients in the region to receive the highest-quality health care close to home.