Arkansas Blue Cross & Blue Shield
Arkansas Blue Cross Blue Shield is a nonprofit mutual insurance company that offers group and individual health insurance to about 377,800 members as of 2011. It is among the state’s largest private companies.
Its revenue has been climbing steadily since 2003 when it was $901.7 million. It crossed the $1 billion mark in premium collected in 2008. And it reported revenue of $1.27 billion for 2011, up nearly five percent from 2010.
Founded in 1948, ABCBS was a fairly small company until the 1960s and the creation of Medicare and Medicaid, which boosted its membership numbers as health insurance became standard.
The coming of managed care also spurred growth. In 1993, ABCBS partnered with Baptist Health to form the health maintenance organization known as Health Advantage.
In the '90s and early 2000s, ABCBS fought the Patient Protection Act of 1995, which requires the same terms as the incumbent in-network providers, all the way up to the Eighth Circuit Court of Appeals in St. Louis. The legislation was upheld in 2005 and “any willing provider” went into effect.
ABCBS is bracing for further change should the U.S. Supreme Court uphold the “individual mandate,” the key provision of health care reform.
- Report: Alice Walton Is Selling Out of the Cutting Horse Business
- Crittenden County Voters OK Tax Increase to Reopen Hospital
- Here's the New UALR Trojans Logo
- A Depressing Motivator (Gwen Moritz Editor's Note) 2 days ago
- Bentonville Developer Gets His Land at Hall Crossing (NWA Real Deals) 2 days ago
- Simmons First National Ramps Up Growth Via Acquisition 2 days ago
- Venture Center Launches Pitch 'N Pint Contest 2 days ago
- Tim Griffin: Changes Needed to Common Core Standards 13 hours ago