October 25, 2016 12:22 PM ET


Company Overview of Health Care Service Corporation

Company Overview

Health Care Service Corporation, through its subsidiaries, provides health and life insurance products and related services in Illinois, Montana, New Mexico, Oklahoma, and Texas. It offers group life, disability, and dental solutions, and a range of other individual solutions. The company also provides various care management and wellness resources, and online tools to provide customers with access to their account information. It primarily serves the employer group market. Health Care Service Corporation was formerly known as Hospital Service Corporation and changed its name to Health Care Service Corporation in 1975. The company was founded in 1936 and is based in Chicago, Illinois with a ...

300 East Randolph Street

Chicago, IL 60601

United States

Founded in 1936





Key Executives for Health Care Service Corporation

Chief Executive Officer and President
Chief Financial Officer and Senior Vice President
Age: 56
Executive Vice President and President of Plan Operations
Senior Vice President of Tri-State Plans and President of Blue Cross & Blue Shield of Montana
President of Blue Cross and Blue Shield of New Mexico
Compensation as of Fiscal Year 2016.

Health Care Service Corporation Key Developments

Health Care Service Corporation Announces Offer to Purchase for Cash Any and All of its 4.70% Notes Due January 15, 2021

Health Care Service Corporation announced the launch of its tender offer purchase for cash any and all of its outstanding 4.70% Notes due January 15, 2021. Notes may be validly tendered on July 15, 2016, unless extended or earlier terminated. Notes must be tendered in accordance with the procedures set forth in the Offer to Purchase. Subject to certain conditions, holders may tender Notes in the Offer pursuant to guaranteed delivery procedures by transmitting a Notice of Guaranteed Delivery to the information and tender agent prior to the Expiration Time. The consideration per each $1,000 principal amount of Notes validly tendered and accepted for payment pursuant to the Offer will be determined in the manner described in the Offer to Purchase by reference to the fixed spread specified on the table above over the yield) based on the bid side price of the U.S. Treasury Security on July 15, 2016, unless extended by the Company. The Tender Consideration will be payable in cash. The settlement date for Notes that are validly tendered on or prior to the Expiration Time is expected to be July 18, 2016, the first business day following the Expiration Time, unless extended. The settlement date for the Notes that are tendered pursuant to guaranteed delivery procedures is expected to be July 20, 2016, the third business day following the Expiration Time, unless extended. Payments for the Notes purchased will include accrued and unpaid interest from and including the immediately preceding interest payment date of the Notes up to, but not including, the Any and All Settlement Date. Notes tendered may only be withdrawn at or prior to 5:00 p.m., New York City time, on July 15, 2016 but, except as otherwise provided, not thereafter.

Health Care Service Corporation Announces Executive Changes

Health Care Service Corporation announced that it has named Eric Feldstein as senior vice president and chief financial officer and Blair Todt as senior vice president and chief legal officer. Feldstein and Todt will report to HCSC President and Chief Executive Officer Paula Steiner. As SVP, CFO, Feldstein is responsible for HCSC's accounting, financial planning, treasury, tax and procurement activities. He also oversees the company's actuarial group and decision-making processes related to underwriting and product pricing. Feldstein joined HCSC in May 2016 after serving as executive vice president of American Express Company's Enterprise Growth Group. Feldstein will succeed Ken Avner, SVP and chief financial officer, who announced his retirement earlier this year. Todt will join HCSC, leading HCSC's legal affairs team. As SVP, CLO, Todt will oversee management of HCSC's legal division and will provide legal advice and consultation on legal matters affecting the company. Todt will join HCSC on July 1 from WellCare Health Plans, where he has held several senior management positions since 2010, most recently serving as senior vice president, chief legal and administrative officer and secretary. Todt's experience includes serving as senior vice president, general counsel and corporate secretary for Medcath Inc., deputy general counsel for BearingPoint and a partner in Carter Conboy Case Blackmore Maloney and Laird.

Health Care Service Corporation Launches Well onTarget

Health Care Service Corporation, or HCSC, has launched Well onTarget, which provides health tracking tools and online resources to manage overall health. Well onTarget is a health tracking tool that encourages members to actively engage in their health by providing integrated, personalized support and resources. Through Well onTarget, available both online and via mobile app, members can complete health assessments, enroll in fitness programs and track a range of health factors including nutritional choices, stress levels and cholesterol numbers. Members can also obtain additional support from wellness coaches via secured messaging or over the phone. To help keep consumers motivated, Well onTarget incentivizes healthy behaviors with Blue Points. Members can earn Blue Points rewards by visiting a participating fitness center, taking an online wellness course and using a fitness device for activity tracking. Members can redeem earned points for a variety of health and wellness merchandise or use them to make donations to more than 250 major charities. Well onTarget is part of HCSC Blue Care Connection (BCC), a holistic program that integrates traditional elements of medical care management (utilization and care management) with advanced technological support, educational resources, outreach and health advocacy. Through BCC, members have access to care advisors and online health information to help them take charge of their health and make informed health care decisions.

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