CareFirst BlueCross BlueShield
{{short description|US health insurance company}}
{{Infobox company
| name = CareFirst BlueCross BlueShield
| foundation = {{Start date and age|1937}}
| location = Baltimore, Maryland
Washington, D.C.
| area_served = Baltimore
Washington metropolitan area
| key_people = Brian D. Pieninck (President & CEO)
| industry = Managed care
| products = Health insurance, Medigap
| revenue = $10.1 billion
| net_income = $240 million
| num_employees = 8,480
| homepage = {{URL|https://www.carefirst.com/}}
}}
CareFirst BlueCross BlueShield is a health insurance provider serving 3.5 million individuals and groups in Maryland and the Washington metropolitan area. It has dual headquarters in Baltimore, Maryland and Washington, D.C.{{cite news |last1=Eddy |first1=Nathan |title=CareFirst BlueCross BlueShield requires workforce get vaccinated |url=https://www.healthcarefinancenews.com/news/carefirst-bluecross-blueshield-requires-workforce-get-vaccinated |work=Healthcare Finance News |language=en}}{{cite news |last1=Berinato |first1=Chris |title=CareFirst BlueCross BlueShield will require COVID vaccine for its workers |url=https://foxbaltimore.com/news/local/carefirst-bluecross-blueshield-will-require-covid-vaccine-for-its-workers |work=WBFF |date=16 August 2021}} It is a nonprofit organization and an independent licensee of the Blue Cross Blue Shield Association.{{cite news |last1=Staff |title=Loyola Md. receives $50K CareFirst grant to expand health equity services|url=https://thedailyrecord.com/welcome-ad/?retUrl=/2021/09/22/loyola-md-receives-50k-carefirst-grant-to-expand-health-equity-services/ |work=Daily Record (Maryland) |date=22 September 2021}}
The company has a 75 percent market share in Maryland. It also serves more than 626,000 members in the Federal Employees Health Benefits Program.
History
The history of CareFirst BlueCross BlueShield can be traced back to 1934 when a hospital association in Washington, D.C. formed Group Hospitalization, Inc. In 1942, the company was sanctioned to use the Blue Cross service mark, and in 1951 became a full participating member of the Blue Cross system.{{cite web | url=https://individual.carefirst.com/individuals-families/about-us/our-history.page | title=Our History | publisher=Carefirst}} In 1969, Maryland Hospital Service, Inc. (Blue Cross) and Maryland Medical Service (Blue Shield) changed their names to Maryland Blue Cross and Maryland Blue Shield. In 1998, the Maryland and District of Columbia companies merged to form CareFirst BlueCross BlueShield.{{cite news | url=https://www.baltimoresun.com/news/bs-xpm-2002-01-01-0201010163-story.html | title=CareFirst pays well as a nonprofit | first=M. William | last=Salganik | work=The Baltimore Sun | date=January 1, 2002}}
In July 2000, CareFirst announced that it was leaving the Medicare HMO marketplace at the end of the year.{{Cite web|title=CareFirst CEO fighting for merger's future|url=https://www.bizjournals.com/baltimore/stories/2002/04/08/story1.html|last=Graham|first=Scott|date=8 April 2002|website=Baltimore Business Journal|url-status=live|archive-url=https://web.archive.org/web/20040520012807/http://www.bizjournals.com:80/baltimore/stories/2002/04/08/story1.html |archive-date=2004-05-20 |access-date=}} In 2001, Wellpoint (now Anthem) offered to acquire the company for $1.37 billion, including $119 million in bonuses to Carefirst executives.{{cite news | url=https://www.bizjournals.com/washington/stories/2001/11/19/daily22.html | title=WellPoint to acquire CareFirst BlueCross BlueShield | first=Scott | last=Graham | work=American City Business Journals | date=November 21, 2001}} In 2003, the offer was rejected by the Maryland insurance commissioner.{{cite news | url=https://www.modernhealthcare.com/article/20030306/MODERNPHYSICIAN/303060313/maryland-insurance-commissioner-rejects-wellpoint-acquisition-of-carefirst | title=Maryland insurance commissioner rejects WellPoint acquisition of CareFirst | first=Leigh | last=Page | work=Modern Healthcare | date=March 6, 2003}}
In 2013, CareFirst partnered with Cognizant to provide its members with information access and management of health coverage via smartphones and tablets using mobile technology.{{cite news |last1=Finance Staff |title=CareFirst to offer mobile apps to manage health |url=https://www.healthcarefinancenews.com/news/carefirst-offer-mobile-apps-manage-health |work=Healthcare Finance |date=August 19, 2013 |language=en}} In May 2015, the company announced that a cyber attack in June 2014 compromised the data of 1.1 million current and former members. The breach did not include Social Security numbers, medical claims, employment, credit card or financial information, and CareFirst subsequently blocked member access to these accounts and requested members create new user names and passwords.{{cite news | url=https://www.vox.com/2015/5/20/11562828/carefirst-says-cyber-attack-stole-data-of-1-1-million-users | title=CareFirst Says Cyber Attack Stole Data of 1.1 Million Users | agency=Reuters | publisher=Vox Media | date=May 20, 2015}}
During the COVID-19 pandemic, CareFirst contributed $8 million to organizations on the front lines for COVID-19 relief, recovery and equitable vaccination efforts for communities in the region of Maryland.{{cite news |last1=Staff |title=CareFirst BlueCross BlueShield invests an additional $2.2M in COVID-19 relief and equitable vaccine efforts |url=https://stateofreform.com/featured/2021/10/carefirst-bluecross-blueshield-invests-an-additional-2-2m-in-covid-19-relief-and-equitable-vaccine-efforts/ |work=State of Reform |date=5 October 2021 |language=en}} The company also covered services that are medically necessary for any of their members that are diagnosed with COVID-19.{{cite news |last1=Pennic |first1=Fred |title=CareFirst Will Cover Medically Necessary Diagnostic Tests for COVID-19 |url=https://hitconsultant.net/2020/03/08/carefirst-will-cover-medically-necessary-diagnostic-tests-for-covid-19/#.YYkxOr3MI-R |work=hitconsultant.net |date=8 March 2020}} In early 2021, the company began providing Medicaid and Medicare Advantage options to consumers.{{Cite web|title=CareFirst weighs rejoining Medicaid, Medicare Advantage markets after nearly 20-year absence|url=https://www.bizjournals.com/baltimore/news/2018/11/26/carefirst-weighs-rejoining-medicaid-medicare.html|last=Eichensehr|first=Morgan|date=26 November 2018|website=Baltimore Business Journal|archive-url=|archive-date=|access-date=}} In 2021, CareFirst dedicated $10.5 million toward addressing the root causes of diabetes in certain regional communities.{{cite news |last1=Eichensehr |first1=Morgan |title=CareFirst to dedicate over $10 million to address 'root causes' of diabetes |url=https://www.bizjournals.com/baltimore/news/2021/01/28/carefirst-to-invest-over-10m-to-fight-diabetes.html |work=Baltimore Business Journal |date=January 28, 2021}} The company also launched Better Together, a public health campaign urging people to get COVID-19 vaccines.{{cite news |title=CareFirst launches 'Better Together' public health campaign |url=https://gbc.org/carefirst-launches-better-together-public-health-campaign/ |work=Greater Baltimore Committee |date=22 February 2021}} In October 2021, the company launched CloseKnit, a virtual primary care practice providing a variety of care services including behavioral health services and care coordination.{{cite news |last1=Babcock |first1=Stephen |title=CareFirst launched a virtual primary care practice. It's the first new company from the health insurer's innovation team |url=https://technical.ly/baltimore/2021/10/25/carefirst-closeknit/ |work=Technical.ly Baltimore |date=25 October 2021 |language=en}}{{cite news |last1=Eichensehr |first1=Morgan |title=Health insurer CareFirst launches new virtual primary care company |url=https://www.bizjournals.com/baltimore/news/2021/09/16/carefirst-launches-virtual-priamary-care-company.html |work=Baltimore Business Journal |date=September 16, 2021}}
= Management =
In 2018, Brian D. Pieninck was named Chief Executive Officer.{{cite news | url=https://www.bizjournals.com/baltimore/news/2018/05/23/carefirst-promotes-brian-d-pieninck-ceo.html | title=CareFirst promotes from within to fill CEO post | first=Morgan | last=Eichensehr | work=American City Business Journals | date=May 23, 2018}} In April 2021, CareFirst appointed Dr. Tich Changamire as its new Chief Medical Officer.{{Cite web|author=Daily Record Staff|date=2021-04-30|title=Dr. Tich Changamire {{!}} CareFirst|url=https://thedailyrecord.com/2021/04/30/dr-tich-changamire-carefirst-2/|access-date=2021-05-09|website=Maryland Daily Record|language=en-US}}
= Partnerships =
In October 2019, CareFirst partnered with Halcyon, an incubator program, to financially support healthcare startups.{{Cite web|title=CareFirst, Halcyon team up to advance more health care startups|url=https://www.bizjournals.com/washington/news/2019/10/14/carefirst-halcyon-team-up-to-advance-more-health.html|last=Gilgore|first=Sara|date=14 October 2019|website=Washington Business Journal|archive-url=|archive-date=|access-date=}} In September 2020, the company partnered with MedStar Health to provide value-based health care to communities.{{cite news |last1=Minemyer |first1=Paige |title=CareFirst, MedStar launch multiyear value-based care partnership |url=https://www.fiercehealthcare.com/payer/carefirst-medstar-launch-multi-year-value-based-care-partnership |work=Fierce Healthcare |date=September 16, 2020 |language=en}} In August 2021, the company collaborated with Pittsburgh, PA-based healthcare provider Highmark to offer health insurance designed specifically for labor unions and members.{{cite news |last1=Staff |title=CareFirst and Highmark introduce Union Blue |url=https://www.highmark.com/newsroom/press-releases/carefirst-and-highmark-introduce-union-blue.html |work=www.highmark.com |date=August 31, 2021 |language=en}}
References
{{Reflist|1}}
Category:Financial services companies established in 1934
Category:Companies based in Baltimore
Category:Health insurance in the United States
Category:Health maintenance organizations
Category:Members of Blue Cross Blue Shield Association