The Guardian Life Insurance Company of America said it has completed its previously announced acquisition of Sacramento, Calif.-based Premier Access Insurance Co., a provider of dental coverage serving more than 5,000 employers and 630,000 members.
The addition of Premier Access strengthens Guardian’s existing Dental Preferred Provider Organization and Dental Health Maintenance Organization networks in several states including California, Utah and Nevada. It also extends Guardian’s reach into the state-run Medicaid and Children’s Health Insurance Program (CHIP) markets, which are expected to grow significantly due to expanded eligibility under the Affordable Care Act.
Guardian said it will also gain a presence on six individual state exchanges, complementing its existing offering on 48 of the small business health exchanges.
Terms of the transaction are not being disclosed.