CHICAGO, Sept. 17, 2012 /PRNewswire/ -- Health Care Service Corporation (HCSC), and Blue Cross and Blue Shield of Montana (BCBSMT), today announced their intention for BCBSMT to join forces with the Blue Cross and Blue Shield Plans in Illinois, Texas, Oklahoma and New Mexico in a new alliance with HCSC, which operates these Plans. HCSC is an Illinois mutual legal reserve company, operates as a not-for-profit, and is the nation's largest customer-owned health insurer. BCBSMT is Montana's largest and longest standing health plan with approximately 272,000 members.
This alliance, once it receives regulatory approval, will bring together HCSC and BCBSMT in a business combination of dedicated people, best practices, innovative technology, and other assets to advance health care excellence in the state of Montana.
The two companies announced that they are in the early stages of planning how the alliance will come together. This alliance is expected to result in additional charitable benefits to the state of Montana.
"The premier health insurance company in Montana is about to get even better," said Michael E. Frank, President and CEO of BCBSMT, who will continue to lead the Montana Plan. "For more than 70 years we have been providing Montanans with access to affordable health care coverage and administrative services, and we will do so for 70 more. As we look to the future of health care in Montana, we believe HCSC will bolster our efforts to serve the unique needs of our state."
"We're pleased to be joining forces with BCBSMT to serve the people of Montana. What we bring to the table through this alliance are additional resources to offer affordable health care coverage to every corner of Montana in new and innovative ways," said Patricia Hemingway Hall, President and CEO of HCSC. "We look forward to working with Mike Frank and his leadership team."
Frank added, "Being part of the largest customer owned insurer in the country will allow us to take advantage of HCSC's scale, financial strength, and new collaborative technology and tools so that we can better serve our members and strengthen our partnership with Montana's outstanding physicians and hospitals."
Blue Cross and Blue Shield of Montana is a not-for-profit health insurer that serves approximately 272,000 members through a provider network of nearly 2,000 physicians, all Montana hospitals, and 2,800 allied health care providers. BCBSMT is the state's largest and (oldest) health insurer.
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 more than 13 million members in its Blue Cross and Blue Shield plans in Illinois, 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 www.HCSC.com, visit our Facebook page or follow us at www.twitter.com/HCSC.
About the Blue Cross Blue Shield of Montana
Blue Cross and Blue Shield of Montana, a not-for-profit mutual insurance company, is a leader in delivering innovative health insurance products, services and information to more than 270,000 members. For over 70 years, the company has served its customers by offering health insurance at a competitive price and has served the people of Montana through support of community organizations, programs and events that promote good health. Blue Cross and Blue Shield of Montana is an independent licensee of the Blue Cross and Blue Shield Association.
SOURCE Health Care Service Corporation