Company Overview of Blue Cross Blue Shield of Michigan, Inc.
Blue Cross Blue Shield of Michigan, Inc., a nonprofit mutual insurance company, designs, sells, and manages health benefit plans for individuals, families, and Michigan-based employers. It offers traditional, preferred provider organization, Medicaid and state, group, health maintenance organization, wellness-based, and dental and vision plans, as well as plans with health spending accounts, Medicare solutions, and specialty benefits. Blue Cross Blue Shield of Michigan, Inc. was founded in 1938 and is based in Detroit, Michigan.
600 East Lafayette Boulevard
Detroit, MI 48226-2998
Founded in 1938
Key Executives for Blue Cross Blue Shield of Michigan, Inc.
Chief Executive Officer, President, Director and Member of Executive Committee
Chief Financial Officer and Executive Vice President
Executive Vice President of Operations and Business Performance
Executive Vice President and President of Emerging Markets
Executive Vice President and President of Health Plan Business
Compensation as of Fiscal Year 2016.
Blue Cross Blue Shield of Michigan, Inc. Key Developments
Blue Cross Blue Shield of Michigan Launches Blue Cross Personal Choice PPO
Jul 11 16
Blue Cross Blue Shield of Michigan is bringing to market Michigan's first Organized Systems of Care-based health plan, Blue Cross Personal Choice PPO. Blue Cross Personal Choice PPO builds upon more than a decade of investments Blue Cross has made in value-based care across Michigan and offers small and mid-sized businesses a product that lowers health care costs by delivering coordinated quality care through Blue Cross Organized System of Care (OSC) to members. Organized Systems of Care are communities of doctors and hospitals within the Blue Cross PPO network that collaborate to provide customized, coordinated patient care. The OSC model provides mutual accountability for performance and cost among primary care physicians and specialists. It helps to connect members to a designated primary care physician and a community of care, which improves quality and lower costs by managing population health. Blue Cross' newest health plan provides access to 38 OSCs throughout Michigan, offering members the ability to choose from more than 4,300 primary care doctors, 11,630 specialists and 118 hospitals. The Personal Choice PPO plan divides OSCs into two levels to ensure quality of care and lower costs. By selecting primary care doctors and providers in Level One OSCs, members have lower copays and deductibles. Opting for doctors and providers outside the Level One OSCs provide high quality, coordinated care but at a higher cost to the member. Blue Cross Personal Choice PPO offers comprehensive coverage and essential health benefits employers and members have come to expect from a Blue Cross PPO plan at a lower cost. It helps minimize health care costs for employers by promoting member access to very efficient, high-quality OSCs. It enables smaller employers the ability to offer broad-access PPO benefits previously out of budget. The plan's cost savings are a result of encouraging members to engage in their health care, with options to choose primary care doctors, hospitals and other medical services within an OSC to save on their out-of-pocket costs.
Federal Appeals Court Voids $30 Million Settlement in Blue Cross Blue Shield of Michigan Case
Jun 8 16
A federal appeals court has voided a $30 million settlement in a class-action lawsuit against Blue Cross Blue Shield of Michigan involving price-fixing allegations. The 6th Circuit Court of Appeals said that key details of the settlement were wrongly sealed and kept hidden from public view. The court says it's sending the case back to U.S. District Court in Detroit for an open and vigorous examination of the settlement's fairness. The Detroit Free Press and The Detroit News report Blue Cross says it's reviewing the decision and hopes to eventually resolve the case. The settlement had followed allegations Blue Cross pressured more than 60 hospitals into contracts that were preferential to Blue Cross and adverse to competitors. Blue Cross didn't admit any wrongdoing as part of the now-voided settlement.
Blue Cross Blue Shield of Michigan Reports Earnings Results for the Year 2015
Mar 2 16
Blue Cross Blue Shield of Michigan reported earnings results for the year 2015. For the year, the company reported $68 million loss. The company announced that the loss as modest next to the $24.2 billion in total revenue.
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