July 25, 2014 8:06 PM ET

Insurance

Company Overview of Highmark Inc.

Company Overview

Highmark Inc. is engaged in health insurance, dental insurance, vision care, and reinsurance businesses. It operates health insurance plans for individual and group customers in Pennsylvania, Delaware, and West Virginia. The company was founded in 1996 and is based in Pittsburgh, Pennsylvania. Highmark Inc. operates as a subsidiary of Highmark Health.

Fifth Avenue Place

120 Fifth Avenue

Pittsburgh, PA 15222-3099

United States

Founded in 1996

Phone:

412-544-7000

Key Executives for Highmark Inc.

Chief Executive Officer
Age: 55
Chief Administrative Officer
Age: 55
Co-Chief Executive Officer of HVHC
Age: 57
Chief Executive Officer of HM Insurance Group
Executive Vice President and Division President of Health Services
Compensation as of Fiscal Year 2014.

Highmark Inc. Key Developments

United Steelworkers International Announces Highmark Blue Cross Blue Shield as Its Health Insurance Provider

United Steelworkers (USW) announced that Highmark Blue Cross Blue Shield will remain the health insurance provider for its staff personnel and for those Steelworkers who are covered by Highmark through various USW- sponsored plans. The USW also believes that members of the Pittsburgh community deserve access to all health care facilities in the region, regardless of their insurance carrier. The hospitals in the UPMC system were built by and for the community with tax dollars and community contributions.

Highmark Inc. Announces Executive Changes

Highmark Inc. is changing chief executive officers for the second time in less than two years. The company announced William Winkenwerder Jr. is being replaced by David Holmberg. Holmberg has been with the firm for seven years and has been president of a division that includes dental, vision and stop-loss insurance companies. Winkenwerder in June 2012 replaced Ken Melani who was fired after fighting with the husband of an employee with whom he was having an affair.

Highmark Lays Off 100 More Workers

A sign that Highmark Inc. is not immune from the pressures of America's rapidly evolving health care business mounting layoffs. The company laid off 100 workers from its health plan operations. That brings the total job losses at Highmark's insurance and hospital businesses to more than 520 in the past eight months. Highmark faces competition in its core insurance business that has forced it to drop the price of some of its health plans to attract customers. Its hospital system is pressured by a general push nationwide to lower health care costs.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
June 26, 2014
Seven Area Hospitals from Erie to Pittsburgh
Private Placement
June 9, 2014
--
Merger/Acquisition
February 18, 2014
Hospital Service Association Of Northeastern Pennsylvania
 

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