Becker's Healthcare December 2, 2024
Michigan Medicine will shutter its health plan, U-M Health Plan, at the end of 2025.
The health plan has experienced “significant financial losses” over the past few years, the health system wrote in a Nov. 25 message to members.
Ann Arbor-based Michigan Medicine acquired the health plan, formerly named Physicians Health Plan, when it purchased Sparrow Health, the Lansing State Journal reported Nov. 29.
The University of Michigan acquired Lansing, Mich.-based Sparrow Health System in 2023. Saginaw, Mich.-based Covenant Health continues to own a 10% stake in U-M Health Plan, the Journal reported. The health plan has around 64,000 members.
The plan will continue to pay claims through the end of 2025, according to its message to members.
“Despite significant...
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