Senior Market Sales (SMS) announced that it has acquired Medi-Solutions Insurance Agency, LLC, a provider of Medicare insurance plans to clients nationally.
Medi-Solutions Insurance serves clients in New Jersey as First Jersey Insurance Agency, which opened in 1985. Starting in 1989, the business grew to provide Medicare plans in New Jersey, New York and Connecticut. In 2018, the company expanded with Medi-Solutions, which sells Medicare in New Jersey, Florida and throughout the United States.
Founded in 1982, SMS is headquartered in Omaha, Nebraska. SMS represents top Medicare Supplement, Medicare Advantage, annuity, life, long-term care and travel insurance carriers in all 50 states. More than 71,000 independent insurance agents rely on SMS for proprietary technology, competitive insurance products and expert training and service. In 2020, SMS joined the Alliant Insurance Services family of companies.
Due to the strong brand recognition and customer loyalty in the New Jersey area, the First Jersey name will continue to be used there. Financial terms of the deal were not disclosed.
According to data captured in the LevinPro HC database, this transaction marks the 29th Managed Care transaction of 2023. This is a 36% decrease from last year when 45 Managed Care transactions were announced between January 1, 2022, and December 14, 2022.
