December 22, 2014 4:20 PM ET

Healthcare Providers and Services

Company Overview of Blue Cross and Blue Shield of Illinois

Company Overview

Blue Cross and Blue Shield of Illinois operates as a health insurance company that provides health plans to its members in Illinois. The company offers health plans with online access to benefits summaries, claim status, provider information, and health tips to its members and their dependents. It provides managed care programs for individuals, families, employer groups, and seniors. Blue Cross and Blue Shield of Illinois was formerly known as Hospital Service Corporation. The company was founded in 1936 and is based in Chicago, Illinois. Blue Cross and Blue Shield of Illinois operates as a subsidiary of Health Care Service Corporation.

300 East Randolph Street

Chicago, IL 60601-5099

United States

Founded in 1936

Phone:

312-653-2775

Fax:

312-540-0544

Key Executives for Blue Cross and Blue Shield of Illinois

Chief Executive Officer of Health Care Service Corporation
Age: 71
President of Health Care Service Corporation and Chief Operating Officer of Health Care Service Corporation
Age: 61
President of Plan Operations - Health Care Service Corporation and Executive Vice President of Health Care Service Corporation
Senior Vice President of Health Care Management
Compensation as of Fiscal Year 2014.

Blue Cross and Blue Shield of Illinois Key Developments

CombiMatrix Announces Payor Contract With Blue Cross Blue Shield of Illinois

CombiMatrix Corporation announced that it has entered into a payor contract with Blue Cross and Blue Shield of Illinois (BCBSIL) for coverage of CombiMatrix's diagnostic laboratory services.

Blue Cross and Blue Shield of Illinois Unveils New Medicare Advantage Prescription Drug Plan

Blue Cross and Blue Shield of Illinois, or BCBSIL has unveiled a new Medicare Advantage Prescription Drug Plan, or MAPD. Beginning on October 15, Medicare eligible individuals can enroll in Blue Cross Medicare Advantage (HMO) SM or Blue Cross MedicareRx (PDP) SM (Part D) for a January 1, 2014 effective date. This product expansion, approved by the centers for Medicare & Medicaid Services (CMS), builds upon BCBSIL's existing Medicare product portfolio including Medicare supplement insurance and focuses on providing greater flexibility, lowering health care expenses and increasing access to health care.

Blue Cross and Blue Shield of Illinois and OSF Healthcare System to Create Accountable Care Organization to Improve Quality of Care and Reduce Costs

Blue Cross and Blue Shield of Illinois and OSF Healthcare System announced their intent to form a new, strategic alliance, an Accountable Care Organization. By doing so, the two organizations aim to deliver improved patient care while also focusing on the overall cost of health care. The new ACO will see health care providers realign their focus from fee-for-service volume to a value approach for services designed to improve quality outcomes and patient satisfaction. At the same time, incentives are structured to focus on delivering more services to the patients in greatest need to avoid the consequences of unmanaged or poorly managed disease. For example, the ACO will have systems and processes in place to proactively identify those members with chronic disease and have programs to help people better manage their health to reducing unnecessary hospital admissions and ER visits, costly readmissions, and duplication of services. As evidenced in other ACO arrangements, such attention has led to greatly increased patient satisfaction and has the possibility to make health care more affordable. The ACO's objective is to transform the way physicians and hospitals coordinate and deliver patient care by providing financial incentives for delivering even greater quality patient outcomes and satisfaction.

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