CHICAGO, July 30, 2015 /PRNewswire/ --Health Care Service Corporation (HCSC) announced today that President and CEO Pat Hemingway Hall has decided to retire, effective December 31, after 23 years of service to the company.
As President and CEO of HCSC for the past seven years, Hemingway Hall has led one of the strongest financially rated insurers in the country. During her tenure, the largest customer-owned health insurer added nearly 3 million members through same-store growth and acquisitions. She charted the course for a growth and diversification strategy that HCSC executes today, most recently expanding access to health coverage through its participation on the health insurance exchanges in all five states in which it operates. Meanwhile, HCSC remains a leader in the employer group market at the same time expanding its presence in growing government programs markets.
"Pat's leadership has been nothing short of remarkable. Given her experience, her tenacity to solve tough issues and her ability to lead people, Pat has been the ideal CEO to navigate this company so successfully through the twists and turns of our industry over the last several years," said Milton Carroll, Chairman of HCSC.
Noting her tireless advocacy for the interests of the company's policyholders at the federal and state level, Carroll continued. "On behalf of our nearly 16 million members and 20,000 employees, I'd like to thank Pat for her commitment to make a difference in people's lives every day and for making sure we're on solid footing to do so for years to come."
"All of us at HCSC have made history in changing America's healthcare system and improving the lives of millions," said Hemingway Hall. "During my tenure, we have made significant investments in our future, and we remain well positioned to continue expanding access for coverage for as many people as possible in our states."
"Standing with our members and providing peace of mind to families and individuals during some of the most meaningful moments in their lives has provided me some of the most meaningful moments of my own," Hemingway Hall continued. "There comes a point, however, when a career journey ends, and this time feels right to me. Now is the perfect time for a new leader to chart the course ahead for this company. Equipped with the right talent, the right strategy and the right focus, HCSC is on firm ground and ready for the future."
The HCSC Board of Directors has named Paula Steiner, Executive Vice President and Chief Strategy Officer, as the company's president, effective immediately. She will become CEO on January 1, 2016.
Steiner, who joined HCSC in 1997, has served in several other positions at the company, most recently overseeing corporate strategy and government programs, as well as HCSC's retail business. She also currently oversees HCSC's external affairs, which is comprised of federal government relations, including legislative and regulatory advocacy and policy, corporate media relations, public affairs and advertising.
Additionally, Steiner served in the past as HCSC's chief marketing executive and senior vice president, emerging markets. Before that, she served eight years as divisional senior vice president of Marketing and Sales and two years as vice president of Marketing for Blue Cross and Blue Shield of Illinois (BCBSIL). Before joining BCBSIL, Steiner was senior vice president, Brand Enhancement and Extension, at the Blue Cross and Blue Shield Association.
Steiner has a B.A. in economics from Johns Hopkins University and an MBA from the Wharton School.
About Health Care Service Corporation
Health Care Service Corporation is the country's largest customer-owned health insurer and fourth largest health insurer overall, with nearly 16 million members in its Blue Cross and Blue Shield plans in Illinois, Montana, New Mexico, Oklahoma and Texas. A Mutual Legal Reserve Company, HCSC is an independent licensee of the Blue Cross and Blue Shield Association. For more information, please visit HCSC.com, visit our Facebook page or follow us at www.twitter.com/HCSC.
SOURCE Health Care Service Corporation