Blue Cross Blue Shield of Michigan has asked the state for approval to sell its Medicaid policies in more areas of the state, according to a Detroit Free Press report.
The request was submitted last week to Michigan's insurance regulators and demonstrates that Blue Cross is planning to grow its Medicaid business. The request, if approved, would allow the company to sell its insurance policies to a broader part of Wayne County. Blue Cross Blue Shield is based in Detroit and is the state's largest insurer, with more than 4.6 million beneficiaries.
The insurer hopes to increase membership through its BlueCaid Medicaid program from 19,349 subscribers to 29,407 by Sept. 2013. Expanding BlueCaid would increase net income from $62 million to $79.5 million.
Statewide, BlueCaid has 21,000 members in Wayne, Washtenaw and Livingston counties.
Read the Detroit Free Press report on BlueCaid.
Related Articles on Coding, Billing and Collections:
Providers "Refusing to Pay Attention" to ICD-10 Transition
South Carolina to Raise State Health Insurance Premiums
Partners Healthcare Acquires Boston Non-Profit Insurer
The request was submitted last week to Michigan's insurance regulators and demonstrates that Blue Cross is planning to grow its Medicaid business. The request, if approved, would allow the company to sell its insurance policies to a broader part of Wayne County. Blue Cross Blue Shield is based in Detroit and is the state's largest insurer, with more than 4.6 million beneficiaries.
The insurer hopes to increase membership through its BlueCaid Medicaid program from 19,349 subscribers to 29,407 by Sept. 2013. Expanding BlueCaid would increase net income from $62 million to $79.5 million.
Statewide, BlueCaid has 21,000 members in Wayne, Washtenaw and Livingston counties.
Read the Detroit Free Press report on BlueCaid.
Related Articles on Coding, Billing and Collections:
Providers "Refusing to Pay Attention" to ICD-10 Transition
South Carolina to Raise State Health Insurance Premiums
Partners Healthcare Acquires Boston Non-Profit Insurer