Premera Blue Cross is a not-for-profit
Blue Cross Blue Shield
Blue Cross Blue Shield Association (BCBS, BCBSA) is a federation, or supraorganization, of, in 2022, 34 independent and locally operated BCBSA companies that provide health insurance in the United States to more than 106 million people. It was ...
licensed
health insurance company based in
Mountlake Terrace, Washington
Mountlake Terrace is a suburban city in Snohomish County, Washington
Snohomish County () is a county located in the U.S. state of Washington. With a population of 827,957 as of the 2020 census, it is the third-most populous county in Wash ...
,
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...
. 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
Alaska ( ; russian: Аляска, Alyaska; ale, Alax̂sxax̂; ; ems, Alas'kaaq; Yup'ik: ''Alaskaq''; tli, Anáaski) is a state located in the Western United States on the northwest extremity of North America. A semi-exclave of the U.S. ...
.
The company provides health insurance and related services to approximately 2 million people. Premera Blue Cross has operated in Washington since 1945, and in Alaska since 1957. Premera Blue Cross is an independent licensee of the Blue Cross Blue Shield Association.
History
Premera was founded as Washington Hospital Service in 1945,
and began operating in Alaska in 1957. In 1969, the company's name was changed to Blue Cross of Washington and Alaska.
In June 1998, Blue Cross of Washington and Alaska merged with
Spokane
Spokane ( ) is the largest city and county seat of Spokane County, Washington, United States. It is in eastern Washington, along the Spokane River, adjacent to the Selkirk Mountains, and west of the Rocky Mountain foothills, south of the Ca ...
's Medical Service Corporation 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
A nonprofit organization (NPO) or non-profit organisation, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in co ...
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
In an insurance policy, the deductible (in British English, the excess) is the amount paid
out of pocket by the policy holder before an insurance provider will pay any expenses. In general usage, the term ''deductible'' may be used to describe o ...
or
co-pay for
2009-H1N1 vaccine
A vaccine is a biological preparation that provides active acquired immunity to a particular infectious or malignant disease. The safety and effectiveness of vaccines has been widely studied and verified. fees for its fully insured members.
On February 9, 2012 the
Seattle Times published an article alleging non-profit insurance outfits, including
Regence, Premera and Group Health, were stockpiling billions of dollars in reserves while increasing their rates at the same time.
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 2019, the company's board, according to the NAIC Quarterly Statement, included Connie Renee Collingsworth, a member of the leadership team of the
Bill & Melinda Gates Foundation and John E. Jenrette, an executive at Cedars-Sinai.
In response to the COVID-19 crisis in 2020, Premera offered advance payments to health care providers amounting up to $100 million.
References
External links
Company website
{{Authority control
Companies based in Snohomish County, Washington
Financial services companies established in 1945
Medical and health organizations based in Washington (state)
Health insurance in the United States
Members of Blue Cross Blue Shield Association