Premera Blue Cross Insurance Company Details
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Premera Blue Cross is a not-for-profit Blue Cross Blue Shield licensed health insurance company based in Mountlake Terrace, Washington, United States. It sells health insurance plans under the Blue Cross license in Washington state except Clark County and under both of the Blue Cross and Blue Shield licenses in Alaska.
The company provides health insurance and related services to approximately 2 million people. Premera Blue Cross has operated in Washington since 1933, and in Alaska since 1957. Premera Blue Cross is an independent licensee of the Blue Cross Blue Shield Association.
Premera Blue Cross History
Premera was founded as Washington Hospital Service on May 5, 1945, and began operating in Alaska in 1957. On March 14, 1969, the company’s name was changed to Blue Cross of Washington and Alaska.
In 1994, Blue Cross of Washington and Alaska affiliated with Spokane’s Medical Service Corporation, which had been founded in November 1933. In June 1998, the two organizations merged under the name Premera Blue Cross.
In 2002, Premera’s executives first informed Washington commissioner Mike Kreidler of their intent to convert from a non-profit to a for-profit joint-stock company. After five years, the request was officially ended on March 5, 2007.
In October 2009, Premera waived deductible or co-pay for 2009-H1N1 vaccine fees for its fully insured members.
In October 2014, Jeff Roe replaced Gubby Barlow as CEO of Premera.
On May 5, 2015, Premera experienced a security breach, possibly leaking the private information of 11 million of its members.
On July 11, 2019, Premera reached a settlement to pay $10.4 million over its failure to secure sensitive consumer data following the breach in 2015
In response to the COVID-19 crisis in 2020, Premera has offered advance payments to health care providers amounting up to $100 million.
Premera Blue Cross Board of directors
As of 2019, the board according to the NAIC Quarterly Statement included:
- Connie Renee Collingsworth, a member of the leadership team of the Bill & Melinda Gates Foundation
- John E. Jenrette, an executive at Cedars-Sinai
Premera Blue Cross Articles of incorporation
The articles of incorporation are accessible online, with the original filing for Premera Blue Cross occurring in 1945 and the original filing for Premera occurring in 1994.
Premera Blue Cross Regulation, lawsuits, and investigative journalism
The Seattle Times published an article on Feb 9, 2012, alleging non-profit insurance outfits, including Regence, Premera and Group Health, are stockpiling billions of dollars in reserves while increasing their rates at the same time.
In 2002, it attempted to convert to a for-profit, but the proposal was ultimately rejected.
Premera Blue Cross biography Net worth, Details Reference
- Company website