PORTLAND, Ore. — Legacy Health and Regence BlueCross BlueShield came to terms on a new insurance reimbursement plan, signing the deal late Sunday evening.
Both agreed on a new contract on the evening of the proposed deadline, March 31.
Legacy provides healthcare for people in Oregon and southwest Washington, while Regence, a major health insurance company, covers 200,000 people who have Legacy primary care doctors. The two have been trying to come to terms to renew a payment agreement for most of the year, and in the final month before the contract was set to expire, Legacy did not accept a "best and final" offer from Regence.
Many Oregonians worried that they would have to find new in-network providers or paying out-of-network costs.
"We are very happy that our patients will continue to see their trusted providers and receive services at our hospitals without interruption,” said Merrin Permut, Legacy's vice president and chief population health officer, in a statement. “We are so grateful to our patients and our communities for their patience and understanding while we worked with Regence on a new agreement. I’m also deeply appreciative of the continued commitment our caregivers have demonstrated to support our patients throughout this situation."
In a statement, Regence confirmed the agreement, saying in part, "We recognize the uncertainty these negotiations caused for some Regence members and appreciate their patience as we worked with Legacy leadership to achieve reimbursement rates that are more sustainable for our members and customers.
Legacy and Regence stated that there will be no disruption to care.
Last year, a similar contract dispute between Providence and Regence nearly threw 260,000 people out-of-network. The two parties also reached a last-minute deal in January.