July 28, 2017 7:03 AM ET

Insurance

Company Overview of Blue Cross and Blue Shield of North Carolina

Company Overview

Blue Cross and Blue Shield of North Carolina provides health insurance products and services in North Carolina. It offers health care providers that include medical doctors and general acute-care hospitals. The company’s products include health plans and dental plans for individuals, families, seniors, and employees. It also provides individual Medicare, small group, medium group, large group, and group Medicare plans for business owners to cover their employees. The company was founded in 1933 and is headquartered in Durham, North Carolina.

1965 Ivy Creek Boulevard

Durham, NC 27707

United States

Founded in 1933

Phone:

919-489-7431

Fax:

919-765-7818

Key Executives for Blue Cross and Blue Shield of North Carolina

CEO, President & Trustee
Age: 64
Chief Financial Officer and Senior Vice President
Chief Operating Officer and Senior Vice President
Senior Vice President, General Counsel and Corporate Secretary
Chief Sales, Marketing, & Communications Officer and Senior Vice President
Compensation as of Fiscal Year 2017.

Blue Cross and Blue Shield of North Carolina Key Developments

Mission Health System Cancels Contract with Blue Cross and Blue Shield of North Carolina

Mission Health System notified Blue Cross and Blue Shield of North Carolina (Blue Cross NC) that it plans to leave the network effective Oct. 5, 2017. The health system has chosen to become the only system in North Carolina outside of Blue Cross NC’s network. While Mission Health facilities including hospitals and outpatient facilities will be out of network beginning Oct. 5, Mission Health physicians within the health system will remain in-network until March 2, 2018. Mission Health’s decision means that most Blue Cross NC customers who receive care at a Mission Health facility, or from a Mission Health provider, will need to either seek care elsewhere, or could pay more out-of-pocket. Customers can always access emergency care as in-network care. Additionally, services qualifying for Blue Cross’s continuity of care program will be considered in-network. Blue Cross NC will work to ensure a smooth transition for customers in Western North Carolina over the next several months. These contract changes will also affect Blue Medicare SM /Medicare Advantage customers.

Blue Cross and Blue Shield of North Carolina Announces 165 Customer Service Representative Layoffs

Blue Cross and Blue Shield of North Carolina announced that it is laying off 165 customer service representatives. Impacted employees are based primarily in Durham, but also in Fayetteville and Winston-Salem. The layoffs are effective through the month of June, with notices given this week.

Blue Cross and Blue Shield of North Carolina Reports Consolidated Earnings Results for the Full Year of 2016

Blue Cross and Blue Shield of North Carolina reported consolidated earnings results for the full year of 2016. For the year, the company reported revenue was $7.8 billion against $8.2 billion a year ago. Consolidated net income was $185.0 million against $0.5 million year ago. The company continued to improve financially in 2016 due to reduced losses in its Affordable Care Act (ACA) business, strong investment performance, and gains in other lines of business.

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