August 21, 2014 1:44 PM ET

Healthcare Providers and Services

Company Overview of Blue Cross and Blue Shield of Massachusetts, Inc.

Company Overview

Blue Cross and Blue Shield of Massachusetts, Inc. operates as a health insurance company that provides healthcare programs. It offers individual and family health plans, and Medicare supplement plans; federal employee plans; life and disability options; and dental plans. The company also operates a plan education center that caters to health insurance related queries. Blue Cross and Blue Shield of Massachusetts, Inc. was formerly known as Blue Cross and changed its name to Blue Cross and Blue Shield of Massachusetts, Inc. in 1988. The company was founded in 1937 and is based in Boston, Massachusetts. Blue Cross and Blue Shield of Massachusetts, Inc. operates as a subsidiary of Blue Cross & B...

401 Park Drive

Landmark Center

Boston, MA 02215-3326

United States

Founded in 1937

Phone:

617-246-5000

Fax:

617-832-4832

Key Executives for Blue Cross and Blue Shield of Massachusetts, Inc.

Chief Executive Officer
Chief Financial Officer and Executive Vice President
Chief Operating Officer
Chief Information Officer and Senior Vice President
Senior Vice President and General Counsel
Compensation as of Fiscal Year 2014.

Blue Cross and Blue Shield of Massachusetts, Inc. Key Developments

Blue Cross Blue Shield of Massachusetts Announces Board Changes

Blue Cross Blue Shield of Massachusetts has elected Phyllis R. Yale as its new Chair of the Board. Seasoned financial executive Paula A. Price has also been elected as a new Board member. The election of Ms. Yale as Chair and the addition of Ms. Price demonstrate BCBSMA's commitment to creating a diverse and inclusive environment to serve its nearly 3 million members. The company also announced that William C. 'Bill' Van Faasen will become Chair Emeritus. In this newly created unpaid role, Mr. Van Faasen will continue to serve as an important advisor to BCBSMA, though he will step away from his formal responsibilities as a member of the Board. Mr. Van Faasen has served in leadership roles at BCBSMA for nearly 25 years. Most recently, he was the company's Chairman of the Board. Prior to that he served as President and CEO from 1992- 2005 and was Chairman from 2002-2007. He served as interim President and CEO from March to September 2010. Phyllis R. Yale is an Advisory Partner in Bain & Company's Boston office. She joined the firm in 1982, was elected to the partnership in 1987, is the former Boston Office Head and has been a leader in building Bain's Global Healthcare Practice for over 25 years. Over her career, Ms. Yale has led work with clients on issues including competitive strategy development, marketing strategy implementation, cost/quality management, and mergers and acquisitions. Paula A. Price has been appointed full-time Senior Lecturer at Harvard Business School in the Accounting and Management Unit starting July 2014. She served as Executive Vice President and Chief Financial Officer of Ahold USA until January 2014, having joined the company in 2009.

City of Haverhill Chooses Blue Cross Blue Shield of Massachusetts and the Massachusetts Interlocal Insurance Association

The City of Haverhill, recently announced that it will save approximately $2.9 million in health care costs by choosing Blue Cross Blue Shield of Massachusetts (BCBSMA) and the Massachusetts Interlocal Insurance Association (MIIA). Haverhill chose MIIA and Blue Cross for its health plan effective July 1, 2014 after recognizing that sizable savings could be achieved. City employees will also share in 25% of the savings-nearly $1 million dollars-as specified by municipal health care reform law.

Blue Cross Blue Shield of Massachusetts Inc Announces Earnings Results for the Third Quarter of 2013

Blue Cross Blue Shield of Massachusetts Inc. announced earnings results for the third of 2013. For the quarter the company reported $25.2 million in net income on $1.6 billion in revenue from premiums. The company posted $13.6 million in operating income and $18.2 million in investment income, while paying $6.8 million in federal taxes.

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