Fierce Healthcare August 14, 2019
Paige Minemyer

The merger plan has been approved by both insurers’ boards.

Harvard Pilgrim Health Care and Tufts Health Plan announced Wednesday plans to merge in an effort to “harness the combined strengths” of both organizations.

The merger would combine two large, nonprofit Massachusetts-based health plans and would allow them to more effectively address growing cost concerns and expand product portfolios, officials at the health plans said in an announcement.

The joint health plan’s board will be made up of an equal number of Tufts and Harvard Pilgrim members, and will be chaired by Joyce Murphy, who chairs Harvard Pilgrim’s board, officials said.

Tufts Health Plan CEO Tom Croswell will take over as CEO of the new company, while Harvard Pilgrim CEO...