About My Health Careers Internship MedBlogs Contact us
Medindia LOGIN REGISTER
Advertisement

Health Insurance Industry Needs to Change, Says Blue Cross Chief

by Vanessa Jones on March 12, 2013 at 12:39 PM
Font : A-A+

 Health Insurance Industry Needs to Change, Says Blue Cross Chief

Join the health care revolution rather than fight it says Brad Wilson, the chief of Blue Cross and Blue Shield of North Carolina. He was in town to address the Triad Health Under writers Association - a group of health insurance companies for corporate and individual customers.

"We have an unsustainable model." Wilson endorsed the company's message. He felt the health care industry could join hands with the insurance industry to reduce costs and improve the quality of health care.

Advertisement

Blue Cross and Blue Shield of North Carolina has 3.74 million customers, the state's major health insurer in 2012 with a revenue of $5.7 million.

A report by Triangle Business Journal stated that Blue Cross and Blue Shield accounted for 41%of health insurance compared to 18% by the Greensboro based United Health Care Group.
Advertisement

Blue Cross and Blue Shield paid 87 cents per premium dollar to the customer and after Affordable Health Care Act it would be 90 cents. Millions would be under insurance cover.

"That is great" for Americans, he said. But "it will come at a cost."

On October 1st private companies will compete for customers in market place. The premiums will as a result be higher for small businesses and individuals, because everyone - even those with pre-existing illnesses are eligible.

Blue Cross Blue Shield want to initiate their programs in an effort to cut costs and if successful can work as a model. The insurer has joined UNC Health Care in a bid to cut costs.

He felt that Affordable Health Care was transforming health insurance and he felt it was time to change health care itself.

"We all need to be focused on higher quality care and lower costs," Wilson said.

References :

Hannah Punitha (IRDA Licence Number: 2710062)

Richard M. Barron, March 2013

Source: Medindia
Advertisement

Advertisement
News A-Z
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Advertisement
News Category
What's New on Medindia
Turmeric: Magic Ingredient to Keep you Healthy in Winter
Top 7 Benefits of Good Oral Hygiene
Healthy and Safer Thanksgiving 2021
View all

Medindia Newsletters Subscribe to our Free Newsletters!
Terms & Conditions and Privacy Policy.

More News on:
Health Insurance Plan Third Party Administrators for Health Insurance Star Health and Allied Insurance Health Insurance Policies offered by Bajaj Allianz Insurance ICICI Lombard General Insurance Company Limited Health Insurance Health Insurance - Ombudsman Health Insurance - Basics New India Assurance Policies Cholamandalam Health Insurance Policies 

Recommended Reading
An Update on UK Health Insurance
Choices are plenty so spend time researching various policies before committing yourself....
Apollo Munich Health Insurance Company Limited
Apollo Munich Health Insurance Co. Ltd is a joint venture of Apollo Hospitals Group, Munich Health. ...
Bajaj Allianz Senior Citizens Health Insurance
Bajaj Allianz Insurance Company offers Silver Health policy that allows the maximum insurance of ......
Health Insurance
This slideshow explains the concepts about healthcare insurance industry in India....
Cholamandalam Health Insurance Policies
Cholamandalam MS General Insurance Company (Chola MS) a joint venture of Murugappa Group & Mitsui Su...
Health Insurance - Basics
Health insurance guarantees payments to a person in the event of sickness or injury.and works as pr...
Health Insurance - Ombudsman
Insurance Ombudsman institutions work for the purpose of quick disposal of the grievances of the ins...
Health Insurance Plan
With a health insurance policy you and your family can rest assured!...
Health Insurance Policies offered by Bajaj Allianz Insurance
Bajaj allianz health insurance policies protect you and your family in case you need expensive medic...
ICICI Lombard General Insurance Company Limited
Major health care plans from the ICICI Lombard include complete health insurance ihealth plan, perso...
New India Assurance Policies
The existing Mediclaim and Health Plus Medical expenses policies have been discontinued and Mediclai...
Star Health and Allied Insurance
Star Health & Allied Insurance offers a convenient insurance for the corporate people when they tra...
Third Party Administrators for Health Insurance
TPA is an IRDA approved healthcare service provider. TPA processes claims for policy holders on beha...

Disclaimer - All information and content on this site are for information and educational purposes only. The information should not be used for either diagnosis or treatment or both for any health related problem or disease. Always seek the advice of a qualified physician for medical diagnosis and treatment. Full Disclaimer

© All Rights Reserved 1997 - 2021

This site uses cookies to deliver our services. By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Use