Foley & Lardner LLP represented Health Care Service Corporation (HCSC), the parent of Blue Cross and Blue Shield health plans in five states, in its agreement to purchase third-party health benefits administrator Trustmark Health Benefits, a wholly owned subsidiary of Trustco Holdings Inc.
HCSC is the largest customer-owned health insurer in the United States, with nearly 17.5 million members in its health plans in Illinois, Montana, New Mexico, Oklahoma, and Texas. Trustmark Health Benefits designs and offers custom plans that help manage costs through innovative solutions, data transparency, and member-centric support. The acquisition will provide HCSC with additional capabilities to serve a broader set of customers seeking customizable and flexible health benefit solutions.
The Foley team representing HCSC was led by Steven Vazquez and Mitchell Lindstrom and included Ethan Lenz, John Palmer, Alan Rutenberg, Belinda Morgan, Arthur Phillips, Carmen Decot, Rick McKenna, Morgan Tilleman, Nick Welle, Hannah Zaitlin, Jennifer Hennessy, Katie Conterio, Laura Kirtley, Hannah Demsien, Chloe Talbert, Stephanie Schwartz, and Mallory Neumann.