Corporate downsizing at Mayo Clinic.
Patients at Mayo in western Wisconsin will be offered a new option for health insurance, as the medical firm has sold its own insurance branch to the public employee insurer WEA Trust.
Mayo decided within the last two years to try selling the insurance provider that it had operated for more than 30 years.
Administrator Joe Kruse with Mayo in La Crosse said the time seemed to right for the clinic to end operation of the insurance outlet.
“With so much change in the insurance marketplace it didn’t seem prudent from a business perspective for us to continue to own our own small health insurance company in Wisconsin,” he said.
WEA characterizes the stock sale as a way to expand its business to customers who are not public employees.
Kruse doesn’t know if customers will see big savings from the change.