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What is health insurance use for?
Health insurance protects you from unexpected, high medical costs. You pay less for covered in-network health care, even before you meet your deductible.
What is the significance of the creation of Blue Cross?
Blue Cross began in 1929, as a partnership between a local hospital and its financially struggling patients. Baylor University hospital administrators were seeking a way to make healthcare more affordable for their patients, many of whom were Dallas public school teachers.
Which health insurance is best for family?
5 Best Health Insurance Plans for Family in India for October 2022Family Health Insurance PlansSum Insured (Rs.)Care Advantage PlanUp to Rs. 1 CroreNiva Bupa Heartbeat Family Floater PlanUp to Rs. 50 LakhStar Family Health Optima PlanRs. 3 Lakh to Rs. 25 LakhManipal Cigna ProHealth Premier PlanRs. 1 Crore1 more row
What is the best health insurance to have?
A quick look at the 7 best health insurance companiesBest customer service: Aetna.Best overall customer satisfaction: Blue Cross Blue Shield.Best for pharmacy programs: Cigna.Best benefits available: United Healthcare.Best for dental benefits: Ambetter.Best for Medicare coverage: Humana.More items...•
What type of insurance is Blue Cross Blue Shield?
Blue Cross Blue Shield Association (BCBSA) is a federation of 35 separate United States health insurance companies that provide health insurance in the United States to more than 106 million people.
What religion has a Blue Cross?
The Christian Flag is an ecumenical flag designed in the early 20th century to represent much of Christianity and Christendom....Christian Flag.DesignA white banner with a red Latin Cross charged upon a blue cantonDesigned byCharles C. Overton and Ralph Eugene Diffendorfer5 more rows
What are the 5 main types of insurance?
Following are some of the types of general insurance available in India:Health Insurance.Motor Insurance.Home Insurance.Fire Insurance.Travel Insurance.
Which is the No 1 health insurance in India?
Best Health Insurance Companies in IndiaRankHealth Insurance CompanyHealth Claim Settlement Ratio1IFFCO Tokio General Insurance96.33%2Care Health Insurance95.47%3Magma HDI Health Insurance95.17%4The Oriental Insurance Company93.96%24 more rows
Is pregnancy covered in health insurance?
Many maternity insurance providers cover up to two pregnancies. It also covers the newborn's vaccinations as well as any medical costs that may arise. Pre- and post-hospitalisation coverage is also available for up to 30 days before and 60 days following hospitalisation.
Can you have 2 health insurance plans?
Policyholders can have any number of health insurance plans. However, they cannot claim reimbursement for the same expense from multiple insurers. If one cover is not sufficient, the other cover can be used to cover the expenses. Health insurance plans can be purchased by policyholders in any quantity.
What are the two main types of health insurance?
There are two main types of health insurance: private and public, or government. There are also a few other, more specific types.
What is the most popular health insurance company?
UnitedHealth Group. UnitedHealthcare, part of UnitedHealth Group, is the largest health insurance company by total members. ... Anthem. Anthem is the second-largest medical insurance provider by total members, with more than 45 million members. ... Aetna. Aetna was acquired by CVS Health Corp. ... Cigna. ... Humana.
Why did the first Blue Cross plans cover only hospital care quizlet?
Why did the first Blue Cross plans cover only hospital care? The AMA objected to the inclusion of physician services.
When was Blue Cross Blue Shield created?
1929Blue Cross Blue Shield Association / Founded
Why was health insurance developed?
If you needed to go to the hospital or to get surgery, that was what the insurance would help pay for. It was not intended to pay for doctor visits or preventative care. Those things were up to the individual. Over time, health insurance evolved to cover the increasing costs of health care.
Who started the Blue Cross?
Justin Ford Kimball1929: Blue Cross Plans are established to provide pre-paid hospital care, based on a prototype developed at Baylor University in Dallas, Texas by Justin Ford Kimball.
Overview
Blue Cross Blue Shield Association (BCBSA) is a federation of 35 separate United States health insurance companies that provide health insurance in the United States to more than 106 million people. It was formed in 1982 from the merger of its two namesake organizations: Blue Cross was founded in 1929 and became the Blue Cross Association in 1960, while Blue Shield emerged in 1939 and the Blue Shield Association was created in 1948.
History
Blue Cross and Blue Shield developed separately, with Blue Cross providing coverage for hospital services and Blue Shield covering physicians' services.
Blue Cross is a name used by an association of health insurance plans throughout the United States. Its predecessor was developed by Justin Ford Kimball in 1929, while he was vice president of Baylor University's health care facilities in Dallas, Texas. The first plan guaranteed teachers 21 …
Current organization
Blue Cross and Blue Shield insurance companies are licensees, independent of the association and traditionally of each other, offering insurance plans within defined regions under one or both of the association's brands. Blue Cross Blue Shield insurers offer some form of health insurance coverage in every U.S. state. They also act as administrators of Medicare in many states or regions of the U.S.
Details on specific organizations
Blue Cross of Idaho and Regence Blue Shield of Idaho are separate companies and compete throughout the state. Regence Blue Shield of Idaho announced a strategic alliance (not a merger) with Blue Cross North Carolina.
By September 2010 BCBS licensee Blue Cross and Blue Shield of North Carolina announced that it would refund $156 million to their policyholers following documented charges: they had been sue…
Nonprofit status debate
While only some members retain nonprofit status, the ones that do have been criticized for holding excessive amounts of cash or excessive executive compensation. For instance, the CEO of BCBS Michigan, Daniel Loepp, earned over 19 million USD in 2018, more than the CEOs of Ford or Fiat Chrysler during the same year.
In 2014, BC/BS of Illinois (Health Care Service Corporation) was sued over its nonprofit status. T…
For-profit conversions
Conversions into for-profit corporations typically results in distribution of some of the assets into a charitable foundation. When Blue Cross of California was converted, it initially had no distribution, but subsequently The California Endowment and California Health Care Foundation were endowed with $3.2b. Proceeds ranged from $3.2b (California) to $1.5m (Nevada).
An exceptional case occurred in the Empire Blue Cross conversion, where the proceeds went to …
Antitrust settlement
In 2002, the group of 34 companies that make up the BCBS Association settled an antitrust investigation by allowing competition among member companies under non-Blue names while retaining regional exclusivity for regional licenses.
See also
• Blue Cross Canada