News Headlines Article

CalPERS seeks bids to boost HMO offerings and cut costs
Sacramento Business Journal

The California Public Employees’ Retirement System, frustrated with ever-rising health care costs, is looking for a better deal from its HMO partners. The nation’s second-largest buyer of health benefits has, over the years, whittled down the number of health maintenance organization plans that serve its members to three. It offered 22 HMOs two decades ago. The goal was to develop long-term relationships with a few partners willing to work with the pension fund to improve care and cut costs.

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