CareSource and ElderServe Health seek affiliation to strengthen long-term care for older adults and adults with disabilities in New York
DAYTON, Ohio and NEW YORK, March 04, 2025 (GLOBE NEWSWIRE) — CareSource, a nationally recognized nonprofit managed care organization, today announced that it will seek an affiliation with ElderServe Health, Inc., dba RiverSpring Health Plans (ElderServe Health) through a change-of-control transaction. Subject to state regulatory approval, RiverSpring Living will end its affiliation with ElderServe Health, which will join CareSource’s family of brands. CareSource will strengthen ElderServe Health’s ability to provide high-quality long-term support services, with both organizations bringing their shared members-first approach to more New Yorkers, while RiverSpring Living will focus on residential, supportive and assisted living.
“As demographics continue to shift, the need for long-term services and support will triple by 2050,” said Erhardt Preitauer, president and CEO, CareSource. “We are passionate about transforming care for individuals with complex health needs, enabling them to live healthier, fuller lives. Growing our family of brands allows us to deepen our collective impact by improving quality of life and health outcomes for some of the most vulnerable populations in our country.”
ElderServe Health provides long-term care services to more than 20,000 older adults and adults with disabilities in New York City and Westchester, Nassau and Suffolk counties. The organization serves a frail and elderly or disabled, predominantly dual-eligible membership enrolled in one of the following programs: New York State Medicaid Managed Long Term Care Program, Medicare Advantage Institutional Special Needs Plan (I-SNP) or Medicaid Advantage Plus / Medicare Advantage Dual Eligible Special Needs Program (D-SNP MAP).
“CareSource’s innovation and managed care expertise will support ElderServe Health’s commitment to high-quality care and strong community connections,” said Scott Markovich, EVP, markets and products, CareSource. “We are excited to join forces with a like-minded, mission-driven organization to further improve care and services for New Yorkers.”
Approximately 3.5 million New Yorkers are aged 65 or over, making it the most rapidly growing segment of the state’s population, and more than half will require long-term care during their lifetime. Additionally, over a million New Yorkers with disabilities, chronic illnesses or other functional complications are anticipated to need long-term care services. The CareSource and ElderServe Health affiliation is designed to help fill these critical, long-term care needs for New York’s growing population of older adults and adults with disabilities.
“CareSource’s mission-driven commitment is exemplary, and they are ideally suited to acquire control of ElderServe Health,” said David V. Pomeranz, President & CEO of RiverSpring Living. “RiverSpring Living will continue to prioritize residential, supportive and assisted living at our Riverdale campus.”
ElderServe Health headquarters and employees will remain in New York. There is no anticipated disruption to member coverage as ElderServe Health becomes part of the CareSource family of brands.
“For our members, this transition should be seamless – they will continue to receive care management from the same trusted team and have the same access to the services that matter most,” said Susan Aldrich, executive vice president, ElderServe Health. “Our new partnership will further enhance the quality of care and provide even more resources, ensuring that we are always meeting the evolving needs of our members.”
About CareSource
CareSource is a nonprofit, nationally recognized managed care organization with over two million members. CareSource administers one of the largest Medicaid managed care plans in the U.S. The organization offers health insurance, including Medicaid, Health Insurance Marketplace and Medicare products. As a mission-driven organization, CareSource is transforming health care with innovative programs that address the social determinants of health, health equity, prevention and access to care.
For more information, visit us at www.caresource.com, or follow us on X, formerly known as Twitter, LinkedIn or Facebook.
About ElderServe Health, Inc., dba RiverSpring Health Plans
ElderServe Health, Inc., dba RiverSpring Health Plans is a mission driven, not-for-profit managed care organization serving the New York metropolitan area, with over 20,000 members, all of whom are frail and elderly or disabled. Its team has decades of experience managing care by paying attention to individuals, their environments and their health issues. We are about the whole person. ElderServe Health offers Medicaid managed long-term care, Medicare-only and integrated Medicaid-Medicare plans. In all plans, clinical staff work with members to develop care plans, assure that they are effective and that they change to meet evolving needs. Our goal is helping our members be as healthy and independent as possible.
CONTACT: Lisa Marie Shekell CareSource 4045567194 lisamarie.shekell@caresource.com
