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CareSource history
CareSource company history timeline
The company’s managed care business model was founded in 1989 and today CareSource is one of the nation’s largest Medicaid managed care plans.
Helping millions of Americans since 1994.
In 1996, the DAHP expanded into the Columbus market with their Medicaid plan by buying the plan United Healthcare was administering.
In 1997, the plan acquired Butler Health Plan and gained 6,000 more members in Butler County.
In the year 2000, DAHP consolidated all its health plans under one name – CareSource.
The 300,000-square-foot, 9-story building is downtown's first new office tower since before 2000.
In 2004, the organization was ranked the sixth-largest Medicaid managed care plan in the United States by Interstudy.
Also in 2004, the company's training program-CareSource University opened to educate employees and keep service standards high.
In 2006, desiring to support surrounding non-profits, CareSource established the CareSource Foundation.
In 2007 employment in the area remained weak, but CareSource saw business growth and became the only Medicaid Managed Care provider to offer services in all 88 counties in Ohio.
The new office, named the Pamela Morris Center to honor the legacy of its founder, will be located at First and Jefferson streets and be the first new high-rise in downtown Dayton since the company's headquarters opened in 2008.
Construction was completed in 2009 on the $55 million corporate headquarters at the corner of Main Street and Monument Avenue in downtown Dayton.
In 2010, CareSource announced expansion of its provider network in Southeastern Ohio through a partnership with Quality Care Partners (QCP), a physician-hospital organization (PHO).
By 2010, the company was the third largest Medicaid HMO in the country, with $2.5 billion in revenue and 800,000 members across Ohio and Michigan.
In October 2012, the company expanded into Kentucky Medicaid with Humana, where the plan was known as Humana - CareSource.
In 2012, the company announced a partnership with Humana.
In 2013, CareSource announced that it would move some employees to a second office at 40 West Second Street in Downtown Dayton.
CareSource was the third largest company in the Dayton Area in 2013, behind AK Steel and Speedway, ranked by total revenue.
In November 2014, the state announced that it would be hiring an additional 100 people to help residents enroll in the exchange and the state’s expanded Medicaid program.
West Virginia initially did not allow non-grandfathered pre-2014 policies in the individual market to renew again in 2014; they had to be replaced with ACA-compliant coverage as of their renewal date in 2014.
The state also filed a lawsuit in 2014 against the Obama Administration because the federal government deferred to the states on the decision about whether or not to renew grandmothered plans.
In 2014, MyCare Ohio was launched to integrate Medicare and Medicaid benefits.
CareSource celebrated 25 years as one of the nation's largest Managed Medicaid Plans and the largest in Ohio in 2014.
Ultimately, it was a moot point, as Kentucky Health CO-OP announced in October 2015 that they would cease operations at the end of 2015.
For 2015, the average rate increase in the individual market in West Virginia was 6.7 percent, although there was variation from one plan and region to another, and the average included off-exchange plans as well as plans in the exchange.
Highmark noted that they considered pulling out of the exchange at the end of 2015.
To fill the company's long-term need for additional space, CareSource announced in October 2016 that the company would build a new 6-story office building in downtown Dayton.
But CareSource joined the exchange in 2016, and both insurers have continued to offer coverage ever since.
And the 24 percent rate increase that was approved by regulators made it possible for Highmark to continue to offer plans for 2016.
In 2016, CareSource began serving members in West Virginia through its health exchange product and was awarded the contract to serve Medicaid populations in Indiana and Georgia, extending the company's geographic reach.
CareSource expanded their coverage area to 32 counties as of 2017.
For 2017, CareSource had planned to double their membership in West Virginia.
In Highmark’s redacted rate filing memo for 2017, they noted that “These projections reflect expected changes in market share due to an expected increase in market competition” — presumably referring to CareSource’s planned expansion.
In April 2018, Pamela Morris retired as president and CEO. In May 2018, CareSource named Erhardt Preitauer as CEO. Preitauer was the former CEO of Horizon NJ Health.
2018: Average increase of 25%. Highmark’s average rate increase for 2018 was almost 29 percent, and CareSource’s was 19 percent.
CareSource’s revised filing noted that the West Virginia Office of the Insurance Commissioner had directed insurers to assume that CSR funding would not continue, and to add the cost of CSR to premiums for 2018.
That was the fifth-largest increase across the 39 states that use HealthCare.gov; the average across all of those states was a 1.5 percent decrease for 2019
By 2019, CareSource had expanded to 35 counties, covering the western and north-western areas of the state.
A lease was signed for some employees to move into space on two floors of the Kettering Tower, which was renamed Stratacache Tower in 2019, in downtown Dayton to make room for a total of 2,200 employees in the city.
That had grown to 162,169 as of May 2020, likely as a result of the widespread job losses amid the COVID-19 pandemic.
Average rate increase was 6.7% for 2020, and CareSource expanded into nine new counties in 2020.
In 2020 Erhardt Preitauer was featured on the cover of CEO Today's Healthcare Awards edition which highlighted his efforts to drive best in-class operations, lower costs for its state partners and quality outcomes.
In 2020, the company had $11.8 billion in revenue and 4,500 employees.
Beyond the Foundation, CareSource invested in affordable housing initiatives as part of its efforts in Social Determinants of Health and in 2020 it announced a commitment of $50 million to housing across the United States
Louise Norris Health insurance & health reform authority May 10, 2021
The one-time enrollment window runs through August 15, 2021, and a qualifying event is not necessary in order to use it.
Special enrollment period through August 15, 2021 due to COVID/American Rescue Plan (no qualifying event necessary).
The Office of the Insurance Commissioner has confirmed that insurers will be instructed to add the cost of CSR only to silver plan rates for 2021.
Average rate increases for 2021: About 4.3% for Highmark and 8% for CareSource; both insurers offering plans statewide for 2021.
The CareSource Foundation celebrated its 15th Anniversary in 2021.
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CareSource competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| EmblemHealth | 1995 | $10.0B | 5,000 | 84 |
| Aetna | 1853 | $60.6B | 47,950 | 9 |
| Molina Healthcare | 1980 | $40.7B | 10,500 | 9,701 |
| WellCare Health Plans | 1985 | $20.4B | 14,000 | - |
| MedImpact Healthcare Systems | 1989 | $1.5B | 650 | 19 |
| Boston Medical Center Health Plan In | 1997 | $7.2M | 125 | - |
| UCare | 1984 | $15.7M | 1,048 | - |
| Change Healthcare | 2005 | $3.5B | 15,000 | - |
| Amerigroup | 1994 | $6.3B | 10,001 | 2 |
| Monroe Plan for Medical Care | 1970 | $330,000 | 7 | 3 |
CareSource history FAQs
Zippia gives an in-depth look into the details of CareSource, including salaries, political affiliations, employee data, and more, in order to inform job seekers about CareSource. The employee data is based on information from people who have self-reported their past or current employments at CareSource. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by CareSource. The data presented on this page does not represent the view of CareSource and its employees or that of Zippia.
CareSource may also be known as or be related to CareSource, Caresource, Caresource Management Group Co., Caresource Management Group Company and Dayton Area Health Plan.