Important Update on Providence Health Plan

Providence has been carefully evaluating the future of Providence Health Plan as part of our broader focus on delivering high-quality patient care and ensuring the long-term strength of our ministry.  
 
As part of that work, we are actively exploring the sale of PHP to others better positioned to bring the scale and investment needed over time.  
 
PHP has a long, proud history of serving members with high-quality service and benefits, recognized through independent measures of quality and member experience. The exploration of a sale is not a reflection of the quality of the plan or the dedication of our caregivers, but of how the health insurance market has changed and what it takes to sustain that work.   
 
The health insurance market has become more challenging for small, regional health plans like PHP. Rising prescription drug costs, pressure to keep prices affordable, and the need to continually upgrade technology make it harder for smaller plans to keep up. That is why transitioning our plan to an organization with the ability to invest and share in the costs positions the plan and its members for long-term stability.  
 
We know news like this creates uncertainty, especially for PHP caregivers. Because we are early in this process, there are many questions we cannot answer yet. What we can commit to is ongoing communication with transparency and sharing updates as more information becomes available. Throughout this process, we will keep our caregivers, members, clinicians, providers and employer partners at the center of our decisions.  
 
As we move forward, our top priority is continuity and stability. We will honor all existing contracts and ensure uninterrupted care — from both a health plan and care delivery perspective.  
 
Thank you for your continued commitment to our Mission and to the people we serve. 

Greg Hoffman 
Chief Financial Officer