|
2006
Press Releases
December 5, 2006
Blue Cross and Blue Shield of Texas
Plans Move to New Headquarters; Larger Facility Able to House 1,000 More
Employees at No Extra Cost
October 19, 2006
New Legislative Proposal to Help Illinois'
"Working Uninsured"
September 6, 2006
Fort Dearborn Life Announces Intent
to Merge with Member Service Life
August 15, 2006
Fort Dearborn Life Completes Acquisition
of Life and Disability Business from HM Life Insurance Company
July 25, 2006
Health Care Service Care Service Corporation/Blue
Cross and Blue Shield of Illinois Announces Project to Complete Chicago
Headquarters Building
June 8, 2006
THIN and Availity LLC Announce Joint Venture:
Two industry leaders seeking to join forces to expand real-time health
care transactions
April 20, 2006
Health Care Service Corporation Receives
Top Ranking Among Health Insurers on Diversity List
March 20, 2006
Fort Dearborn Life Insurance Company
Announces Intent to Acquire the Life and Disability Business of Highmark
Life Insurance Company
Blue Cross and Blue Shield of Texas Plans
Move to New Headquarters; Larger Facility Able to House 1,000 More Employees
at No Extra Cost
Need for More Office Space Reflects 70% Growth of BCBSTX Membership Since
1998
(Richardson, Texas) -Dec. 5, 2006 - Blue Cross and Blue Shield of Texas
(BCBSTX) has announced plans to lease office space in a new headquarters
building that will enable the health insurer to house 1,000 more employees
than its current headquarters without any increase in leasing costs. BCBSTX
is a division of Health Care Service Corporation (HCSC), which also operates
the Blue Cross and Blue Shield plans in Illinois, New Mexico and Oklahoma.
Dallas-based Koll Development Company (KDC) will build and own the new
facility, and also will assume BCBSTX’s existing lease obligation
at its current 901 South Central Expressway location. Construction of
the new facility, which will be located four miles north of the health
insurer’s current headquarters in Richardson, Texas, is expected
to begin in the third quarter of 2007, with a targeted move-in date of
early 2010.
The new building will encompass approximately 1 million square feet of
space on 34 acres at the northeast corner of North Central Expressway
and Lookout Drive, enabling BCBSTX to consolidate the bulk of its 2,700
local employees into one location from four.
“Bringing our Richardson and Dallas employees under one roof will
allow us to gain significant workplace efficiencies for our core operations
without any increase in our lease-related administrative costs,”
said Martin Foster, BCBSTX president. “This move also reflects our
tremendous growth from 2 million members in 1998 to 3.4 million members
today, and demonstrates our commitment to the city of Richardson.”
“For more than 25 years, Blue Cross and Blue Shield of Texas has
been a dominant presence in Richardson, and we are so proud that they
have chosen to maintain their headquarters operations in our city,”
said Mayor Gary Slagel, City of Richardson. “The City of Richardson
thanks our partners at Collin County and the Collin County Community College
District for assisting us in creating the most desirable economic climate
for this impressive campus development.”
“We are honored to have been selected to develop the new headquarters
for such an outstanding organization” said Tobin Grove, president
of KDC. “Together with the City of Richardson, The Staubach Company,
and Galatyn Properties, Ltd., we’ve worked diligently to meet the
all of the needs of Blue Cross and Blue Shield of Texas.”
Jeff Ellerman and Mike Sessa of The Staubach Company is representing Blue
Cross and Blue Shield of Texas in the transaction. KDC has selected Dallas-based
Corgan Architects, Inc. and Chicago-based zpd+a as project architects
for the new building.
Blue Cross and Blue Shield of Texas – the only statewide, non-investor-owned
health insurer in Texas – is the largest provider of health benefits
in the state, working with nearly 40,000 physicians and 400 hospitals
to serve 3.4 million members in all 254 counties. Blue Cross and Blue
Shield of Texas is a division of Health Care Service Corporation (HCSC),
the country’s largest non-investor-owned health insurer and fourth
largest health insurer overall. HCSC is a Mutual Legal Reserve Company
and an Independent Licensee of the Blue Cross and Blue Shield Association.
Contact:
Margaret Jarvis, Mark Lane
Margaret: 972-766-7165
Mark: 972-766-1738
Top of Page
New Legislative
Proposal to Help Illinois' "Working Uninsured"
Proposal for affordable health insurance targets small businesses
and their employees
(CHICAGO) – Oct. 18, 2006 – Blue Cross and Blue Shield of
Illinois (BCBSIL) today announced a new legislative proposal designed
to help hundreds of thousands of the “working uninsured” in
the state gain access to health care through affordable health insurance.
The proposal, which requires all private health insurance carriers in
the state to participate, would require qualified small businesses with
between two and 50 employees – in addition to offering the currently
mandated small group insurance coverage – to offer a basic health
insurance option tailored to meet their needs.
“This proposal adopts an incremental approach that could have a
major impact on a significant segment of our state’s uninsured population,
and at the same time, reduce uncompensated care,” said Paul S. Boulis,
BCBSIL president. “And it doesn’t disrupt the existing health
care system, which serves the 84 percent of Illinoisans who are insured.”
“‘One-size-fits-all’ proposals that totally overhaul
the system have not proven to be cost effective,” he added.
More than 1.7 million (16 percent) of Illinoisans don’t
have health insurance
Some 16 percent, or more than 1.7 million Illinoisans do not have health
insurance – approximately 1.1 million of them are either employed
or are family members of the employed. A significant portion of the uninsured
works for small businesses.
“Not having health insurance can be detrimental to people’s
personal and financial health and well-being,” said Boulis. “Further,
uncompensated care is a burden on individuals, employers, providers and
others, because it increases health care costs overall. The proposed legislation
would reduce uncompensated care by bringing new resources into the health
care system.”
Proposal for “working uninsured” in small businesses
While the proposal would require small business owners to offer their
employees basic health coverage, it would not require them to contribute
to premiums. Those businesses that choose to contribute would be offered
state tax credits. Means testing would ensure that people who need this
benefit the most, the working uninsured, get it. Employees of businesses
that qualify for the program would be guaranteed access to the new benefit
option.
“We’re offering a simple proposal that would help the state
overall, individuals, small businesses and providers, in addition to the
working uninsured,” said Boulis. “We call upon members of
the Illinois General Assembly to help make this proposal a reality in
order to increase access to health care through affordable health coverage.”
Proposal part of mission
This proposed legislation is consistent with BCBSIL’s mission, which
is to provide access to high-quality, cost-effective health care to as
many people as possible in the markets it serves. As the largest and one
of the oldest providers of health insurance in Illinois, BCBSIL believes
its expertise can help inform this dialogue and solve the problem of the
state’s uninsured population.
About Blue Cross and Blue Shield of Illinois
Blue Cross and Blue Shield of Illinois, a Division of Health Care Service
Corporation, a Mutual Legal Reserve Company (HCSC) is the largest health
insurance company in Illinois. It began in 1936 as Hospital Service Corporation
with the Blue Cross symbol officially adopted in 1939. Currently, Blue
Cross and Blue Shield of Illinois provides health insurance coverage for
6.9 million people.
HCSC is an independent licensee of the Blue Cross and Blue Shield Association.
Contact:
Tony Rau
312-653-6701
raut@bcbsil.com
Top
of Page
Fort Dearborn Life
Announces Intent to Merge with Member Service Life
(CHICAGO) – Sept. 6, 2006 – Fort Dearborn Life Insurance Company,
a subsidiary of Health Care Service Corporation (HCSC), a Mutual Legal
Reserve Company, today announced its intent to merge with Oklahoma-based
Member Service Life Insurance Company, also a subsidiary of HCSC.
"This merger will allow us to expand our group life and disability
distribution in Oklahoma and utilize Member Service Life products and
services to enter the worksite benefits marketplace," said Larry
Newsom, president and CEO of Fort Dearborn Life.
Existing Member Service Life voluntary worksite products, including
worksite life, short-term and long-term disability and accident insurance,
will continue to be marketed in Oklahoma and Texas by Fort Dearborn Life.
The transaction is anticipated to close on October 1, 2006, subject to
regulatory approvals.
With more than 35 years experience, Fort Dearborn Life is among the country's
leading providers of employee benefits. Fort Dearborn Life markets group
life, short- and long-term disability, group dental and individual annuity
programs. Fort Dearborn Life has $1.7 billion in assets and $125 billion
of life insurance in-force. Fort Dearborn Life is rated A+ (Superior)
by A.M. Best Company, affirmed August 10, 2006, and is rated A (Strong)
by Standard and Poor's for financial strength in its most recent report.
Member Service Life Insurance Company was established in 1977 is a wholly
owned subsidiary of Blue Cross and Blue Shield of Oklahoma (BCBSOK), the
largest private health insurer in Oklahoma. The company is rated A (Excellent)
from A.M. Best Company.
Contact:
Linda K. Wagner
(630) 824-5683
Linda_Wagner@fdlic.com
Top
of Page
Fort Dearborn Life
Completes Acquisition of Life and Disability Business from HM Life Insurance
Company
(CHICAGO) – August 15, 2006 – Fort Dearborn Life Insurance
Company, a subsidiary of Health Care Service Corporation (HCSC), a Mutual
Legal Reserve Company, has completed the acquisition of the life and disability
business of HM Life Insurance Company (formerly Highmark Life Insurance
Company).
“Fort Dearborn Life is committed to growing its group life and
disability business,” said Larry Newsom, president and CEO of Fort
Dearborn Life. “The employer-employee relationship remains a cost-effective
and efficient way to reach consumers, and this acquisition is an important
strategic step to fostering an expansion of our distribution system.”
The acquisition will result in approximately $90 million of additional
premium, providing an increase in Fort Dearborn Life’s market share
for long-term disability insurance and solidifying its position as one
of the largest group life insurance carriers in the United States.
Fort Dearborn Life’s group benefits products will be marketed
through HM Insurance Group’s national network of sales offices.
In turn, Fort Dearborn Life will refer stop loss insurance opportunities
to HM Insurance Group. HM Insurance Group will continue to focus on growing
their block of stop loss business as well as to expanding the limited
benefit medical plan and worksite products that complement group employee
benefit plans.
This transaction does not include the life and disability business of
HM Life Insurance Company of New York.
With more than 35 years experience, Fort Dearborn Life is among the country’s
leading providers of employee benefits. Fort Dearborn Life markets group
life, short- and long-term disability, group dental and individual annuity
programs. Fort Dearborn Life has $1.7 billion in assets and $125 billion
of life insurance in-force. Fort Dearborn Life is rated “A+”
(Superior) by A.M. Best Company, affirmed August 10, 2006, and is rated
“A” (Strong) by Standard and Poor’s for financial strength
in its most recent report.
HM Insurance Group is licensed in 50 states, and its companies hold A-
(Excellent) ratings from A.M. Best Company. The Group’s product
portfolio consists of employer stop loss insurance, limited benefit medical
plans, worksite products, and workers compensation (in Pennsylvania only).
Contact:
Linda K. Wagner
(630) 824-5683
Linda_Wagner@fdlic.com
Top
of Page
Health Care Service
Care Service Corporation/Blue Cross
and Blue Shield of Illinois Announces Project to Complete Chicago Headquarters
Building
(CHICAGO) – July 25, 2006 – Health Care
Service Corporation (HCSC), which operates the Blue Cross and Blue Shield
plans in Illinois, New Mexico, Oklahoma and Texas, has announced that,
pending approval of permits, construction will begin early next year to
complete its headquarters in Chicago. The 33-story first phase of the
300 E. Randolph Street building, which also serves as headquarters for
the company’s Blue Cross and Blue Shield of Illinois division, concluded
in 1997 and currently provides space for approximately 4,200 employees,
which is above optimal capacity.
The structure was originally designed and prepared for an additional 24
stories, to meet an expected need for more office space in anticipation
of the company’s growth. Upon completion in 2010 to its designed
height of 57 stories, the building will accommodate 8,000 workers, allowing
HCSC to gain workplace efficiencies for its core operations and reduce
lease-related administrative costs.
“This project to complete our corporate and Illinois division headquarters
building is a reflection of HCSC’s tremendous growth from 3 million
members in 1997 to 11 million members today, and a demonstration of our
commitment to the city of Chicago,” said Ray McCaskey, president
and chief executive officer of HCSC.
“We are pleased that HCSC and Blue Cross and Blue Shield of Illinois
will be expanding their headquarters here,” said Lori T. Healey,
commissioner of the Chicago Department of Planning and Development. “In
addition to keeping jobs in the city, this is yet another example of a
major corporation committed to calling Chicago home.”
Founded in 1936, HCSC is the largest non-investor-owned health insurer
in the United States and the fourth largest health insurer in the country
overall, operating the Blue Cross and Blue Shield plans in Illinois, New
Mexico, Oklahoma and Texas. HCSC’s life insurance subsidiaries,
Fort Dearborn Life Insurance Company in Illinois and Colorado Bankers
Life Insurance Company in Colorado, operate as Preferred Financial Group
and offer life insurance and financial products. HCSC has a Standard and
Poor’s “A+” rating, a Moody's “A1” rating
and a rating of “A+” from A.M. Best Co. HCSC is an independent
licensee of the Blue Cross and Blue Shield Association.
Contact:
Mark Lane
Health Care Service Corporation
972-766-1738 or mark_lane@hcsc.com
Top
of Page
THIN and Availity
LLC Announce Joint Venture Two industry leaders seeking to join forces
to expand real-time health care transactions
(DALLAS AND JACKSONVILLE, FLA.) – June 8 – Plans to form a
joint venture were announced today between one of the nation’s largest
electronic claims and information networks and one of the leading providers
of Internet-based e-health information services. Upon regulatory approval,
this corporate union will expand and ease the use of electronic information
flows among health care providers, health plans and the government, forging
a critical path for building a model to deliver integrated total health
management capabilities for health plans.
The company, which will be known as Availity, will leverage the strengths
of Availity LLC, jointly owned by Blue Cross and Blue Shield of Florida
and Humana Inc. (NYSE: HUM), and The Health Information Network (THIN),
a subsidiary of Health Care Service Corporation, which operates the Blue
Cross and Blue Shield plans in Illinois, New Mexico, Oklahoma and Texas.
Through the joint venture, THIN’s expansive provider, vendor and payer
networks will facilitate the provision of improved customer service and
accessibility to all customers and business partners, while Availity’s
real-time Internet exchange, Availity Gateway, will provide health care
professionals access to a wider range of web-based products and services.
The Availity Gateway serves as a single point of entry to a network of
health plans and a secure foundation to exchange compliant health care
transactions in real time.
“As the health care industry focuses on increased efficiencies and reduction
of administrative costs, the marketplace demands continued improvements
in the capabilities of our health information technology solutions,” said
Julie Klapstein, CEO of Availity. “Ultimately, through our secure web-based
portal, we can share information seamlessly with health plan systems,
service bureaus and other EDI networks to eliminate administrative complexity.”
“This strategic coalition would combine valuable resources and expertise
in a growing industry,” explained Tom Riley, Vice President, HCSC eSolutions
and Strategic Relations. “We would be uniquely positioned to better serve
the growing needs of our customer base in all markets while enhancing
our integrated total health management capabilities.”
The teaming of Availity and THIN will bring together two key regional
healthcare information technology organizations. With Availity’s foothold
in Florida and THIN’s concentration in Texas, New Mexico and Oklahoma,
the union effectively positions the company to better serve customers
in those areas, while also providing the capabilities and capacity to
offer additional functionality in its product offerings. Currently, more
than 100 million transactions are processed through the Availity Gateway
each year at more than 14,000 physician sites and all Florida hospitals.
THIN’s transactions number approximately 230 million annually, through
a network of more than 1,300 payers/health plans and 120,000 physicians
and hospitals.
About Availity, LLC
Headquartered in Jacksonville, Fla., Availity optimizes the flow of information
between health care providers, health plans, and other health care stakeholders
through a secure Internet-based exchange. The Availity Gateway supports
both real-time and batch web and electronic data interchange (EDI) transactions,
is committed to complying with the HIPAA regulations, and has proven to
be fast and efficient. Availity is the recipient of the 2005 A.S.A.P.
Alliance Innovation Award, 2003 and 2004 eHealthcare Leadership Awards,
the 2004 IT Florida Excellence in IT Leadership Award, the 2003 E-Fusion
Award, the 2003 TETHIE Award, and the 2003 AstraZeneca-NMHCC Partnership
Award. For more information, including an online demonstration of the
Availity Gateway, visit www.availity.com
or call 800-AVAILITY (800-282-4548).
About THIN
Based in Dallas, The Health Information Network (THIN) is a wholly-owned
subsidiary of Health Care Service Corporation, which operates the Blue
Cross and Blue Shield plans in Illinois, New Mexico, Oklahoma and Texas.
THIN is an electronic claims and information network available to all
providers and their billing agents in the health care community. THIN
acts as a central clearinghouse for physicians, hospitals, and other providers
to file patient claims and other transactions electronically with all
payers, commercial and government. For more information, visit www.thinedi.com
or call 877-EDITHIN (877-334-8446) # # #
Contact:
Mark Lane, Health Care Service Corporation, (972) 766-1738, mark_lane@hcsc.net
Caryn Best, Burdette/Ketchum, (904) 645-6200, cbest@burdetteketchum.com
Top
of Page
Health Care
Service Corporation Receives Top Ranking Among Health Insurers on Diversity
List
(CHICAGO) – April 20, 2006 – Health Care Service Corporation
(HCSC) has been recognized by DiversityInc as one of the top five companies
in the United States and is the highest ranking health insurer on the
magazine’s Top 50 Companies for Diversity list. HCSC, which operates
the Blue Cross and Blue Shield plans in Illinois, New Mexico, Oklahoma
and Texas, was ranked fourth out of 256 companies nationwide that participated
in DiversityInc’s annual survey. HCSC is the largest non-investor-owned
health insurer in the United States and the fourth largest health insurer
overall.
The companies were evaluated and measured on whether they showed consistent
strength in four categories: CEO commitment to diversity, which was given
the most weight; human capital; corporate communications; and supplier
diversity.
“At HCSC, we believe championing diversity is essential to serving
our customers as well as to creating and maintaining a productive and
enjoyable work environment,” said Ray McCaskey, president and chief
executive officer of HCSC. “The overall goal of our diversity efforts
is to encourage and utilize the diverse ideas, skills and experiences
of all employees in achieving our organizational objectives.”
“HCSC’s commitment to diversity starts with its CEO and extends
to all aspects of its business,” said Luke Visconti, partner and
co-founder of DiversityInc. “As a DiversityInc Top 50 company, HCSC
has demonstrated strong unbiased recruitment and retention as well as
excellence in communications and diversity management practices. Moreover,
the company has exceptionally high representation of people of color and
women in all levels of management, including senior management.”
Founded in 1936, HCSC is a non-investor-owned mutual legal reserve company
that provides health insurance coverage through its divisions: Blue Cross
and Blue Shield of Illinois, Blue Cross and Blue Shield of Texas, Blue
Cross and Blue Shield of New Mexico, and Blue Cross and Blue Shield of
Oklahoma. HCSC’s life insurance subsidiaries, Fort Dearborn Life
Insurance Company in Illinois and Colorado Bankers Life Insurance Company
in Colorado, operate as Preferred Financial Group and offer life insurance
and financial products. HCSC has a Standard and Poor’s “A+”
rating, a Moody's “A1” rating and a rating of “A+”
from A.M. Best Co. HCSC is an independent licensee of the Blue Cross and
Blue Shield Association.
Contact:
Mark Lane
Health Care Service Corporation
972-766-1738 or mark_lane@hcsc.com
Top
of Page
Fort Dearborn
Life Insurance Company Announces Intent to Acquire the Life and Disability
Business of Highmark Life Insurance Company
(CHICAGO) – March 20 – Fort Dearborn Life Insurance
Company, a subsidiary of Health Care Service Corporation (HCSC), a Mutual
Legal Reserve Company, announced an intent to acquire the life and disability
business of Highmark Life Insurance Company.
"This is another important step in executing our growth strategy
in the group life and disability business," said Larry Newsom, president
and chief executive officer of Fort Dearborn Life. "We look forward
to the distribution opportunities this new relationship will provide for
both companies."
"We are enthusiastic about the product depth and administrative flexibility
that Fort Dearborn Life can offer our life and disability customers,"
said Daniel Lebish, president and chief executive officer of Highmark
Life & Casualty Group. "The divestiture of our life and disability
blocks will provide capital to support the continued growth of our $270
million block of stop loss business(1), as well as our expansion into
new products that complement employee benefit plans."
The parties anticipate the closing of this transaction in the next several
months with an administrative transition to follow. Fort Dearborn Life
expects the acquisition to result in approximately $125 million of additional
premium, providing an increase in its market share for long-term disability
insurance and solidifying its position as the largest group life insurance
carrier in the United States for contracts in-force(2).
The transaction includes an agreement whereby the group benefits products
of Fort Dearborn Life will be marketed through Highmark Life & Casualty
Group's national network of sales offices. In turn, Fort Dearborn Life
will refer stop loss insurance opportunities to Highmark Life & Casualty
Group.
The acquisition is subject to contingencies, such as regulatory approvals.
With more than 35 years experience, Fort Dearborn Life is among the country's
leading providers of employee benefits. Fort Dearborn Life markets group
life, short- and long-term disability, group dental and individual annuity
programs. Fort Dearborn Life has $1.7 billion in assets and $125 billion
of life insurance in-force. Fort Dearborn Life is rated "A+"
(Superior) by the A.M. Best Company, effective June 20, 2005 and is rated
"A" (Strong) by Standard and Poor's for financial strength in
its most recent report.
Highmark Life & Casualty Group is a subsidiary of Highmark, Inc. and
includes Highmark Life Insurance Company, which is licensed in 50 states.
The companies of Highmark Life & Casualty Group hold A- (Excellent)
ratings from A.M. Best Company. The Group's product portfolio consists
of employer stop loss insurance, worksite products, life and disability
insurance and workers' compensation (in Pennsylvania only).
(1) Highmark Life & Casualty Group annual statement 2005
(2) Based on LIMRA's Group Life Sales and In-Force 2004 Annual Results.
Contact:
Linda K. Wagner, Vice President, Corporate Communications of Fort Dearborn
Life Insurance Company, +1-630-824-5683, or Linda_Wagner@fdlic.com
Phil Neubauer of Highmark, Inc., +1-412-544-4221, or phil.neubauer@highmark.com
Top
of Page
|
