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Wed April 11, 2012
Blue Cross Buys Company, Expands Services
Blue Cross of Idaho has teamed up with Blue Cross and Blue Shield of Montana to buy two companies, one in Coeur d’Alene and one in Montana. Peak 1 Administration and Insurance Coordinators of Montana will merge together to provide ancillary support services for the insurance companies.
Those include running Flexible Spending Accounts, Health Reimbursement Accounts, and COBRAs, where employees can temporarily continue their health coverage after they leave their job. Blue Cross says the acquisition will allow it to increase services to more clients in more areas.
A Blue Cross spokeswoman says Peak 1 Administration will remain in Coeur d’Alene. Peak 1 has offices in Boise and Montana. Blue Cross did not disclose a purchase price for the deal.