Tufts Health Plan will start insuring Rhode Island residents next year and compete against three existing insurers.
Tufts President and CEO James Roosevelt Jr. said the Watertown, Mass.-based firm has been looking for opportunities to expand in neighboring Rhode Island. The expansion was made possible by legislation that lawmakers passed this year.
The firm plans to open an office in Providence, hire local staff and start marketing its insurance products to businesses and consumers. The health plans will start operating Jan. 1.
Tufts will compete against Neighborhood Health Plan of Rhode Island, UnitedHealthcare and Blue Cross & Blue Shield of Rhode Island.
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