PROVIDENCE — The Neigborhood Health Plan of Rhode Island (NHPRI) has ended its Boston-based ownership.
Completing a process that began earlier this year, the Rhode Island Foundation has purchased the company, which is this state’s largest insurer of Rite Care members, from the Health Action Forum of Greater Boston. Under the agreement, NHPRI will change its tax status from a for-profit to a non-profit organization.
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Rite Care is a federal-state programs that covers low-income Rhode Islanders who do not qualify for health care coverage under welfare programs but who have incomes of less than 250 percent of poverty guidelines.
According to the Rhode Island Foundation, this acquisition of a health plan by a foundation is believed to be the first of its kind in the country.
