Cornerstone Acquired by Wisconsin Company
ELKHART - Security Health Plan of Wisconsin Inc. has acquired an Elkhart-based company. Cornerstone Benefits Administrator Inc. will be integrated into the company's administrative services arm, Security Administrative Services LLC.
Terms of the acquisition were not released. Cornerstone provided third-party administrative services to businesses in Indiana, Michigan and Wisconsin that self-fund employee health benefits. Security Health Plan says Cornerstone's previous clients will now be serviced by Security Administrative Services.
"As more employers choose to self-fund their employee benefits, we are even more committed to providing a high level of service to our self-funded clients, as well as our business partners who serve these clients," said Ginger Wolf, chief of business strategy for Security Administrative Services. "This acquisition supports our commitment to growth in this market."
Wolf says the new brand represents the company's mission to combine technology and people "to work together to form a complete TPA solution."