August 30, 2014 10:43 PM ET

Insurance

Company Overview of Blue Cross Blue Shield of Michigan, Inc.

Company Overview

Blue Cross Blue Shield of Michigan, Inc., a nonprofit company, designs, sells, and manages health benefit plans for individuals, families, and employers in the United States. Its plans include traditional plans, preferred provider organization plans, health maintenance organization plans, wellness-based plans, and plans with health spending accounts; dental, vision, and hearing plans; and claims processing services. The company also administers Medicare plans for customers; and benefit plans for federal employees and their dependents. In addition, it offers funds for research and community health programs to improve healthcare; long term care, hospital recovery, and personal accident insuran...

600 Lafayette East

Detroit, MI 48226

United States

Founded in 1938

Phone:

313-225-9000

Fax:

313-225-6239

Key Executives for Blue Cross Blue Shield of Michigan, Inc.

Chief Executive Officer
Chief Financial Officer
Executive Vice President of Operations and Business Performance
Senior Vice President of BCBSM
President of West Michigan Operations
Compensation as of Fiscal Year 2014.

Blue Cross Blue Shield of Michigan, Inc. Key Developments

Blue Cross Blue Shield of Michigan and LifeSecure Partner to Provide Comprehensive Health Options to Michigan Consumers

Blue Cross Blue Shield of Michigan and LifeSecure Insurance Company have partnered to offer comprehensive supplemental insurance options to Michigan consumers. The LifeSecure products will be jointly marketed with BCBSM, and are being offered by both companies in Michigan to individual consumers. Individual offerings began July 1, 2014. The products will be available to group customers later in the year. The products are long term care insurance, which helps individuals with costs of daily living; hospital recovery insurance designed to assist policyholders in recovery stages following a hospital stay; and personal accident insurance designed to help policyholders pay for unexpected needs resulting from an accidental injury. The suite of jointly marketed products in the individual market complement BCBSM health plans, while helping Michigan residents maximize coverage and care. The product suite includes: Personal Accident: protects individuals and families from high out of pocket costs by covering expenses resulting from an accidental injury. Can pay for a variety of medical expenses, including x-rays, medication, ambulance services, or for common life expenses bills, mortgage or child care; Hospital Recovery: provides a benefit upon discharge from a hospital stay in order to help pay for services that assist in recovery. Can be used for rehabilitative services, transportation, home care, housekeeping help, child care, to pay daily bills or replace lost wages while away from work; Long Term Care: covers the expense of daily living care that a medical plan typically doesn't cover, such as assistance with bathing, eating, dressing, and transportation. Covers care in the home, an assisted living facility and in a variety of other settings.

Blue Cross Blue Shield of Michigan Announces Two New Board Members

Blue Cross Blue Shield of Michigan announced that Gregory Sudderth was elected to his 12th year as chairman of the Blue Cross Blue Shield of Michigan board of directors. Two new board members, Laura Swartzmiller and Karla Swift, were appointed. Swartzmiller, director of health and welfare benefits for Ford, was appointed to a two-year term to represent large groups-management. Swift, president, Michigan AFL-CIO, was appointed to a two-year term to represent large groups-labor.

Blue Cross Blue Shield of Michigan and Trinity Health-Michigan Achieve New Approach to Reimbursement with Contract

Trinity Health-Michigan and Blue Cross Blue Shield of Michigan, Inc. are implementing reimbursement arrangement that moves hospitals away from traditional fee-for-service payments. The focus of the new reimbursement model is on better hospital-specific efficiency and better population health outcomes achieved by the hospitals working in close concert with affiliated physicians. The arrangement covers a three-year period and is an outgrowth of Trinity Health's agreement in 2012 to partner with Blue Cross Blue Shield of Michigan on a new value-based reimbursement model to pay for hospital services. To support the enhanced performance under the contract, BCBSM and Trinity Health are currently collaborating to create a shared performance management system and work processes that more fully integrate clinical best practices into all facets of care delivery. The reimbursement arrangement will be launched at Mercy Health Partners hospitals and Saint Mary's Health Care in west Michigan. Other Trinity Health hospitals will move under the new reimbursement arrangement in July. This will facilitate closer collaboration already under way between the hospital system and its physician partners to improve population health. The arrangement rewards the hospitals with a share of the savings achieved when hospitals and physicians successfully coordinate the delivery of care to enable efficient and effective treatments, eliminate redundancies and errors in care and prevent re-hospitalizations. The arrangement will provide hospitals funding for infrastructure improvements needed to better coordinate care between the hospitals and their physician partners. Since last year, Trinity Health has been working with their provider partners in the community to develop and implement an infrastructure plan that includes an all-patient registry system that allows caregivers on the hospital and physician side to have access to the patients' records. This promotes coordination of care, improves care quality, and also helps avoid misuse and overuse of tests and services. The next step in the process is to identify cost efficiencies at the hospital and in the population that is treated by the hospital and its physician partners. Trinity Health and its physicians have established milestones to ensure infrastructure work continues along with funding through 2015.

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