Advertisement
"Insurers in Maryland have a hard time distinguishing themselves fromcompetitors on price because the state requires that all insurers payhospitals about the same rate for each procedure," said Jan Shuxteau, analystwith HealthLeaders-InterStudy and author of the report. "One way thatCareFirst has succeeded in this market is by providing service to self-insuredcompanies that are not under state mandates."
Advertisement
According to the report, nearly 1.58 million people are enrolled inself-insured plans in Maryland. Of that group, about 44 percent are in aCareFirst plan. In Maryland, Washington, D.C. and Virginia, CareFirst has acombined self-insured membership of more than 896,000 as of January 2008.
On the financial side, CareFirst's premium revenue increased by nearly11 percent from 2006 to 2007, from $5.28 billion to $5.86 billion, while netincome rose by almost 10 percent, to $180.5 million.
Serving about 3.1 million members in Maryland, northern Virginia and theDistrict, CareFirst is not only the largest healthcare insurer in the area,but it also is a large employer with more than 5,400 employees in theMid-Atlantic region. Additionally, CareFirst serves more than 540,000 membersof the Federal Health Benefits Program.
About Blue Profiler
Blue Profiler offers the most comprehensive analysis of the nonprofit BlueCross Blue Shield plans. Each report focuses on an individual nonprofit Blueplan and includes valuable analysis that will allow companies to moreeffectively partner with these dominant organizations. Each report includesinformation on:
About HealthLeaders-InterStudy
HealthLeaders-InterStudy, a company of Decision Resources, Inc., is theauthoritative source for managed care data and analysis. For more information,please visit www.HealthLeaders-InterStudy.com .-- Competitive analysis -- Enrollment trends -- Company-wide financials -- HMO financials -- Consumer-driven products -- Medicare strategy -- Pharmacy -- Disease management
SOURCE HealthLeaders-InterStudy
