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CHICAGO, May 13, 2021 /PRNewswire/ Blue Cross and Blue Shield of Illinois (BCBSIL) today announced the recipients who will receive a portion of $550,000 in total funding to help deliver critical COVID-19 resources to those most impacted by the pandemic. These grants are part of BCBSIL #VaccTogether Month – an initiative connecting communities with vaccines and bolstering local outreach and education efforts ahead of the summer months.
As part of BCBSIL s collaborative approach to help Illinois residents recover from COVID-19, the awarded funds empower 16 community-based organizations across the state to expand access to COVID-19 vaccinations, testing and education.
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The Blue Cross and Blue Shield Association rescinded a rule that limited the amount of revenue its 35 member plans could generate from non-Blues-related businesses, although experts question whether the change will impact competition across the brand.
The rule required two-thirds of Blues plan licensee s national net revenue from health plans and related services to stem from Blue-branded business.
In a statement, a BCBSA spokesperson said the rule change was consistent with the terms of the subscriber settlement agreement, referencing the $2.7 billion preliminary deal approved last October by U.S. District Judge David Proctor in Alabama. The agreement aims to resolve a major lawsuit first filed by customers in 2012 that accused the Blue companies of fixing prices and driving up premiums. Blues companies provide health insurance to more than 100 million people, or one in three Americans.
Collective Health Raises $280M for Employer Health Benefits Platform
What You Should Know:
– Collective Health, a San Francisco, CA-based provider of an employer-sponsored health insurance platform announced $280 million of funding in a Series F round led by Health Care Service Corporation (HCSC) along with existing investors DFJ Growth, Founders Fund, G Squared, Maverick Ventures, NEA, PFM Health Sciences, SoftBank Vision Fund 1, Sun Life, and others.
– Founded in 2013 by Ali Diab and Rajaie Batniji, Collective Health’s integrated solution allows self-funded employers to administer plans, control costs, and take care of their people all in one place.
– The company plans to utilize the funding to help advance Collective Health’s mission to heal the ailing healthcare industry. By enhancing its already powerful, flexible platform, more employers and their people will be able to easily understand, navigate and pay for healthcare. This unified employer and member experienc