Clear One Health Plans said that the State of Oregon Department of Consumer and Business Services Insurance Division has approved the proposed plan of acquisition of control of Clear One Health Plans by PacificSource Health Plans pursuant to the merger agreement.
Under the merger agreement, Clear One will be merged with and into Springfield Acquisition and Clear One will be the surviving corporation and a wholly owned subsidiary of PacificSource.
Clear One said that it has also received confirmation from Centers for Medicare & Medicaid Services (CMS) that proposed transaction with PacificSource could proceed without obtaining any additional filings or approvals from CMS. The closing of the transaction is still subject to certain terms and conditions customary for transactions of this type.
Clear One Health Plans provides health insurance, including medicare advantage plans, commercial plans, individual plans, and administrative services to individuals and businesses throughout the West. It also offers life, disability, dental, vision, voluntary benefits programs, and employee benefit services to self-funded employers, associations, Taft-Hartley Trusts, and chamber of commerce plans.