Blue Cross & Blue Shield United of Wisconsin To Create $250 Million Public Health Foundation.MILWAUKEE--(BW HealthWire)--June 3, 1999-- 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 Wisconsin, state, United States Wisconsin (wĭskŏn`sən, –sĭn), upper midwestern state of the United States. It is bounded by Lake Superior and the Upper Peninsula of Michigan, from which it is divided by the Menominee will create the largest health care foundation in the history of Wisconsin Wisconsin became a state on May 29, 1848, but the land that makes up the state has been occupied by humans for thousands of years. The history of Wisconsin encompasses not only the stories of the people who have lived in Wisconsin since it became a state of the U.S. . The "Blue Cross & Blue Shield United of Wisconsin Public Health Foundation," with an initial value estimated at $250 million, will be dedicated to promoting public health initiatives in the state of Wisconsin. The new foundation will be the second largest foundation of any type ever created in the state of Wisconsin. The Blue Cross & Blue Shield United of Wisconsin Board of Directors has decided to work closely with the Medical College of Wisconsin and the University of Wisconsin assessing the public health priorities in Wisconsin and helping to determine the best uses for the money donated do·nate v. do·nat·ed, do·nat·ing, do·nates v.tr. To present as a gift to a fund or cause; contribute. v.intr. To make a contribution to a fund or cause. by Blue Cross. The two institutions will be the principal beneficiaries of the "Blue Cross & Blue Shield United of Wisconsin Public Health Foundation." The Blue Cross Board of Directors has asked both institutions to prepare a preliminary report regarding possible uses of the donation by mid-August of this year. 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. , providing services to approximately 700,000 people. The company is rated "A-Excellent" by the A.M. Best Company, a national rating service that ranks insurance companies according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. financial strength. Blue Cross & Blue Shield is fully taxable under both state and federal tax law. The "Blue Cross & Blue Shield United of Wisconsin Public Health Foundation" will be created in conjunction with the conversion of Blue Cross & Blue Shield United of Wisconsin from a service insurance corporation to a stockholder owned health insurance company. The Blue Cross Board of Directors made the decision to create the new foundation and change the corporate structure of the company in a meeting Wednesday, June 2, 1999. Under the plan approved by the Blue Cross Board, the ENTIRE equity value of the Wisconsin Blue Cross & Blue Shield plan will be donated to the new foundation to support public health initiatives in the state. Although several other Blue Cross and Blue Shield plans around the country have converted to shareholder owned corporations, the decision by the Wisconsin Blue Cross plan to donate the entire equity value of its stock following conversion is unprecedented. The conversion of Blue Cross & Blue Shield United of Wisconsin to a stockholder owned company, and the creation of the new foundation is authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: under existing state law and would occur following the required approval by Wisconsin regulators, including the Office of the Commissioner of Insurance. The conversion of Blue Cross & Blue Shield United of Wisconsin will not have any immediate effect on its customers or on Blue Cross employees. There are no planned changes One of the foundational definitions in the field of organizational development (aka OD) is planned change: “Organization Development is an effort planned, organization-wide, and managed from the top, to increase organization effectiveness and health through planned in staffing as a result of the new corporate structure. Blue Cross will continue to operate regional offices throughout Wisconsin and maintain its corporate headquarters in downtown Milwaukee. Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs 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 chief executive officer of Blue Cross & Blue Shield United of Wisconsin will provide details about the new foundation and the change in corporate structure at a news conference scheduled for 2:00 p.m., Thursday, June 3, 1999 at the Medical College of Wisconsin. Blue Cross & Blue Shield United of Wisconsin is one of 52 independent licensees of the BlueCross BlueShield Association. The company is authorized to use the Blue Cross and Blue Shield trademarks throughout the state of Wisconsin. More than 74 million people nationally are covered by Blue Cross and Blue Shield plans. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion