Blue Cross & Blue Shield United of Wisconsin, Highmark Form Partnership; Health Insurers Agree to Work Together On National Accounts.Business Editors/Health & Medical Writers MILWAUKEE--(BUSINESS WIRE)--Feb. 18, 2002 Blue Cross & Blue Shield Blue Shield A US not-for-profit health care insurer that is a reimbursement intermediary for physicians. Cf Blue Cross. United of Wisconsin and Highmark Blue Cross Blue Shield have formed an agreement to work together on national contracts that will allow both companies to explore business opportunities with large employers in Wisconsin. Under the agreement, the companies will market Blue Cross self-funded group medical products, HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, and other specialty products to Wisconsin employers with national operations. Blue Cross & Blue Shield United of Wisconsin decided to enter into the agreement with Highmark to enhance its position with national accounts following its conversion from a non-profit to a for-profit corporation A for-profit corporation is a corporation that is intended to operate a business which will return a profit to the owners. A for-profit corporation, depending on the jurisdiction to which it is incorporated, may be operated either as a stock corporation or as a non-stock in 2001. Highmark, based in Pittsburgh, is the nation's fourth largest Blue Cross plan, covering 23 million lives nationwide and 200 national account customers. Blue Cross & Blue Shield United of Wisconsin is the state's largest health insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. , covering more than 700,000 lives. "This demonstrates how Blue plans can work together cooperatively to meet customer needs," said Thomas R. Hefty heft·y adj. heft·i·er, heft·i·est 1. Of considerable weight; heavy. 2. Rugged and powerful. See Synonyms at heavy. 3. , chairman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Cobalt Corporation, the parent corporation of Blue Cross & Blue Shield United of Wisconsin. "This agreement shows how Blue plans can reach across state lines to offer better service. "Highmark has a tremendous reputation for its national account service. This allows both Blue plans to use their resources to provide the best service to national employers here in Wisconsin." Headquartered in Milwaukee, Cobalt Corporation is the Blue Cross & Blue Shield licensee licensee n. a person given a license by government or under private agreement. (See: license, licensor) LICENSEE. One to whom a license has been given. 1 M. Q. & S. 699 n. for the state of Wisconsin and is one of the leading, publicly traded health care companies in the nation, offering a diverse portfolio of complementary insurance and managed care products to employer, individual, insurance and government customers. Cobalt Corporation serves 2.9 million lives in 50 states. For more information, visit our Web site at www.cobaltcorporation.com |
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