May 19, 2022 – Cone Health and Novant Health have signed a letter of intent allowing Novant Health to make an investment in HealthTeam Advantage. HealthTeam Advantage (HTA) is a Medicare Advantage plan owned by Cone Health. It provides coverage for more than 15,000 Medicare beneficiaries throughout seven North Carolina counties. Due diligence is next. The deal is also subject to the customary regulatory reviews.
“Cone Health maintains majority ownership, and this investment of capital will allow HTA to expand into more markets,” says Dr. Mary Jo Cagle, CEO of Cone Health. “This will allow more seniors to enjoy the enhanced benefits of being a Medicare Advantage patient in one of the top-quality programs in America.”
As a leading Medicare Advantage Plan based in Greensboro, HTA offers all the benefits of original Medicare plus extra benefits such as dental, vision, hearing and fitness along with Medicare Part D prescription coverage. In addition, members are assigned a personal health care concierge to call for answers to plan questions and options for care. HTA launched the area’s only Diabetes and Heart Care C-SNP plan in Guilford County in 2020 and expanded the service area this year to include Alamance, Randolph and Rockingham counties.
“COVID-19 has shown us how critical it is to have seamless ability to scale and partner with others to serve our entire communities,” said Carl S. Armato, president and CEO of Novant Health. “Beginning with serving our seniors, Cone Health and Novant Health will use their combined reach to effectively partner with physicians and provide more and better insurance program choices across the state.”
Conducting business as HealthTeam Advantage (HTA), Care N’ Care Insurance Company of North Carolina, Inc. is a wholly owned subsidiary of Cone Health, incorporated in 2015.