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BlueCross BlueShield of South Carolina (BlueCross) is an independent licensee of the Blue Cross and Blue Shield Association. [1] BlueCross serves 21.5 million people through private business and government contracts. [2] BlueCross has several subsidiaries, two of which are affiliates licensed with the Blue Cross and Blue Shield Association.
Blue Cross Blue Shield of Massachusetts (BCBSMA) is a state licensed nonprofit private health insurance company under the Blue Cross Blue Shield Association with headquarters in Boston. The Boston location located on 133 Federal Street is currently under study as a pending Boston Landmark by the Boston Landmarks Commission .
CareFirst BlueCross BlueShield is a health insurance provider serving 3.5 million individuals and groups in Maryland and the Washington metropolitan area.It has dual headquarters in Baltimore, Maryland and Washington, D.C. [2] [3] It is a nonprofit organization and an independent licensee of the Blue Cross Blue Shield Association.
The funds come from the Michigan Health Endowment Fund created in 2013 and requires Blue Cross Blue Shield of Michigan to contribute "up to $1.56 billion over 18 years to a health endowment fund that benefits Michigan residents". [9] In 2023, Blue Cross Blue Shield of Vermont merged into Blue Cross Blue Shield of Michigan. [10]
Blue Cross reported a $544 million underwriting loss in 2023, which reflected a $3.2 billion increase — a 12% year-over-year jump — in medical and pharmacy claims compared with 2022.
In 1982, Blue Shield merged with The Blue Cross Association to form the Blue Cross and Blue Shield Association (BCBS). [11] Prior to 1986, organizations administering BCBS were tax exempt under 501(c)(4) as social welfare plans. The Tax Reform Act of 1986 revoked the exemption, however, because the plans sold commercial-type insurance.
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