Finally, the agreement lays out a plan for $10 million worth of administrative services to become available to BCBSCO immediately while the transaction is being reviewed.
The Anthem proposal provides for an immediate infusion of capital and provides BCBSCO with timely assistance in the form of managerial support to help accomplish an operational turnaround.
From the purchase price, BCBSCO will retire its outstanding obligations and commitments.
David Kikumoto, president and chief executive officer of BCBSCO.
BCBSCO is one of 54 independent, locally operated Blue Cross and Blue Shield companies.
BCBSCO is Colorado's largest health insurer with more than 472,000 subscribers served through HMO, PPO, point-of-service and traditional health plans.
The ownership change should be virtually invisible to NBA's customers, according to Steve O'Dell, executive vice president of BCBSCO.
Founded in 1937, BCBSCO and its subsidiaries serve 370,000 Colorado members through HMO, PPO, point-of-service, and traditional health plans.
BCBSCO has filed a plan with the Colorado Division of Insurance to convert to a for-profit, stockholder-owned insurance company.
BCBSCO is the state's largest health insurer with more than 406,000 subscribers served though HMO, PPO, point-of-service and traditional health plans.
We view this agreement as the beginning of a strong relationship enabling us to partner with BCBSCO to deliver useful services to their customers today and into the future.
For example, right now a BCBSCO customer who wants to add a dependent to a health benefit plan must fill out a paper form and submit that form to his or her human resources department which, in turn, sends it to BCBSCO.