UnitedHealth Group, the nation's largest operator of Medicare Advantage plans, acquired Texas Medicare insurer KS Plan Administrators, the Star Tribune reported Aug. 16.
The insurer is affiliated with the Houston-based Kelsey-Seybold medical group, the report said. UnitedHealth acquired Kelsey-Seybold in July for about $2 billion.
Financial terms of the KS Plan Administrators acquisition were not disclosed, the report said. In the first quarter of 2022, the insurer generated about $147 million in premium revenue in Texas, while covering about 41,000 Medicare beneficiaries.
The Medicare Advantage plan at Kelsey-Seybold was awarded a five-star rating last fall, its sixth consecutive year earning the highest mark, the report said.