News & Updates
Anthem's parent company is announcing an agreement between Health Care Service Corporation (HCSC) and Blue Cross and Blue Shield of Michigan (BCBSM). This agreement will offer a nationwide private exchange for employers to use in managing their health benefit offerings.
The three health insurers have all purchased equal parts in the Minneapolis-based Bloom Health, a leader in the defined contribution health benefits market. Through its private exchange platform, Bloom Health helps employers define and take charge of their health benefits spending through a defined contribution model. The employer contributes a set amount per employee toward the cost of employee health care benefits. Employees and individuals are presented with a wide choice of benefit plans through an online “marketplace” to best match their personal needs.
Bloom Health brings innovative solutions and cutting edge technology for the defined contribution model on a national level. It will complement Anthem's strong relationships with brokers and consultants. With new offerings, such as this private exchange, Anthem will be well positioned to help employers navigate the changing health care market.
Anthem will begin offering limited enrollment for groups renewing in 2012 and will be working fully for all markets by 2013. Anthem welcomes brokers to explore this choice, as well as current offerings, for their clients.
Bloom Health, founded in 2009, is headquartered in Minneapolis, Minnesota. It will stay an independent company, with Anthem's parent company, HCSC and BCBSM having voting positions on the company Board of Directors. Anthem's parent company and HCSC join BCBSM, who already owned a part of Bloom Health. All three are independent licensees of the Blue Cross and Blue Shield Association.
Your account representative can answer questions you have about this new partner. For more on Bloom Health and to watch a demonstration of their group-plan exchange, go to www.gobloomhealth.com.