Blue Cross Blue Shield of Michigan and Blue Cross Blue Shield of Vermont affiliation approved by Vermont regulator - the Department of Financial Regulation

News provided by

Oct 11, 2023, 10:09 ET

Pioneering model of collaboration helps nonprofit Blue Plans share resources, expertise

DETROIT, Oct. 11, 2023 /PRNewswire/ -- Blue Cross Blue Shield of Michigan and Blue Cross Blue Shield of Vermont today received formal approval from the Vermont Department of Financial Regulation to affiliate and work together across both companies. The affiliation enables both organizations to begin sharing resources and expertise to broaden health plan and service offerings available through Blue Cross Blue Shield of Vermont.

"We are pleased to partner with Blue Cross Blue Shield of Vermont to launch this pioneering approach to collaboration between nonprofit Blue companies," said Daniel J. Loepp, president and CEO of Blue Cross Blue Shield of Michigan. "Our affiliation enables us to leverage our combined resources and expertise to improve the services we provide, while maintaining the local operations in each of our respective states that are key to delivering high-value, convenient and accessible care to our members."

"Blue Cross Blue Shield of Vermont has been a trusted, mission-driven nonprofit organization for more than 40 years," said Don George, president and CEO of Blue Cross Blue Shield of Vermont. "This affiliation enables us, as a Vermont-based health plan, to continue serving the needs of Vermonters in the decades to come. Sharing expertise and technology with Blue Cross Blue Shield of Michigan, we will improve solutions for our members, customers, provider partners and communities here in Vermont."

Both organizations are grounded in – and will remain based in – their local communities. Each has a deep and abiding commitment to advancing the health of local communities and reinvesting in them. This affiliation strengthens these commitments. Health insurance decisions and premium dollars will be managed locally, community investments will be preserved, and the organizations will be better positioned to continue to support good work in the community.

About Blue Cross Blue Shield of Michigan
Blue Cross Blue Shield of Michigan, a nonprofit mutual insurance company, provides health benefits to nearly 5.2 million members. The company is committed to delivering affordable health care products through a broad variety of plans for businesses and individuals. Based in Detroit since 1939, BCBSM supports impactful community initiatives and provides leadership in improving health care across Michigan. BCBSM is an independent licensee of the Blue Cross and Blue Shield Association. For more information, visit bcbsm.com and MiBluesPerspectives.com.

About Blue Cross Blue Shield of Vermont
For more than 30 years, Blue Cross Blue Shield of Vermont has been enhancing the health and well-being of Vermonters by offering innovative plan options to individuals, older Vermonters, and businesses. Employees are dedicated to developing new ways to support high-quality care, programs, and events that promote wellness. Blue Cross Blue Shield of Vermont is an independent licensee of the Blue Cross and Blue Shield Association. For more information, visit bluecrossvt.org.

SOURCE Blue Cross Blue Shield of Michigan