|
Blue Cross Blue Shield Insurance—also known as BCBS Insurance—is actually an association of health insurance companies that dates back eighty years. It is probably the most widely recognized brand among all health insurance plans. Today, BCBS covers over 100 million Americans!
Blue Cross Blue Shield Insurance began as two separate entities. Way back in 1929, Blue Cross was developed as an insurance plan for college professors that paid for their hospital care. Ten years later, Blue Shield was created to pay for doctor visits for lumberjacks and miners working in the Pacific Northwest.
Over the years, both plans grew. They remained separate, but employers generally signed on with both companies and offered them as an insurance duo for enrolled employees. It was not until 1982 that the companies merged and became the Blue Cross and Blue Shield Association (BCBSA).
Most plans offered as Blue Cross Blue Shield Insurance plans today must meet the guidelines for one or the other of the Blues, but they are not required to meet the guidelines for both of them. Since the mid-1980s, when the Blues lost their tax-free status because the US government determined that they were for-profit organizations, many companies that signed on as franchisees have grown into huge corporations, such as Anthem.
One of the huge advantages of being a Blue Cross Blue Shield Insurance
customer is that you are likely to find a Blue Cross Blue Shield Insurance
doctor or hospital no matter where in the world you are traveling! And there are a variety of health insurance plans, offered as both group plans and as individual plans:
• Flexible spending accounts let you build up money from your paycheck that you can use for medical expenses.
• Health savings accounts are very similar to flexible spending accounts, but they have more tax advantages.
• Indemnity plans are those that are like the old, traditional plans. You are not bound to any network of providers. You have the most freedom in choosing your care, but these plans generally cost more than PPO or POS plans.
• PPO plans offer you a network of providers to choose from, and you receive services at a discounted price.
• POS plans require you to choose a primary care physician who will orchestrate all of your medical care.
• HMO plans enroll specific populations of people, and they concentrate on preventative care while paying for services at pre-established rates.
You will find other plan variations to consider. Health Reimbursement Arrangements allows you to save money to pay for family members’ medical costs. There are also Away From Home health insurance plans that kick into effect if you are planning on traveling for ninety days or more.
Over the years, the Blues and the government’s Medicare plans have often worked hand-in-hand to set rates and trends throughout the industry. With the new health reform laws passed by the Obama Administration, the Blue Cross Blue Shield Insurance website offers hope to continue working with consumers, providers, and industry leaders for the purposes of curbing healthcare costs and also helping people to live healthier lives.
| 