The two sides have been trying to reach an agreement to renew the payment agreement for most of this year.
PORTLAND, Ore. — Legacy Health and Regence BlueCross BlueShield have reached an agreement on a new reimbursement plan and signed the contract late Sunday night.
The two sides agreed to a new contract on the evening of March 31, the proposed deadline.
Legacy provides health care to people in Oregon and Southwest Washington, and major health insurance company Regence covers 200,000 people with Legacy family physicians. The two sides have spent much of this year working toward a payment renewal agreement, but in the final month before the contract expires, Legacy did not accept Regence’s “best and final” offer.
Many Oregonians were worried they would have to find a new in-network provider or pay out-of-network costs.
“We are very pleased that our patients can continue to see their trusted healthcare providers and receive services at our hospital without interruption,” Merrin Permut, Legacy’s vice president and chief population health officer, said in a statement. “I am deeply grateful to the patients.” “We deeply appreciate the community for their patience and understanding as we work towards a new agreement with Regence. We are also deeply grateful for the continued commitment our caregivers continue to show.”
Regence confirmed the agreement in a statement, saying, “We recognize that these negotiations have created uncertainty for some Regence members, and we are working hard to achieve more sustainable reimbursement rates for our members and customers. We thank them for their patience as we worked collaboratively with Legacy leadership.”
Legacy and Regens said there will be no disruption to treatment.
Last year, a similar contract dispute between Providence and Regence nearly took 260,000 people off the network. The two parties also reached a last-minute agreement in January.
