BCBSFLBlue Cross Blue Shield of Florida
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Best anticipates steady membership growth and consistent premium development, along with continued favorable operating results for BCBSFL.
BCBSFL is organized into three broad business units: Health Business, Specialty Business and Government Business.
BCBSFL holds approximately 30% of the HMO market share in Florida, more than twice the share of its nearest competitor.
BCBSFL has built a leading market position in the state of Florida, providing health and ancillary coverages through the parent and its family of subsidiaries to approximately 3.
On a consolidated GAAP basis, BCBSFL earned pretax income of $435 million in 2004 compared to GAAP pretax of income of $425 million in 2003.
BCBSFL has moderated price increases in certain markets, in order to ameliorate the pressure of employee benefit packages from its most vulnerable customers, has added more flexibility in product choices, including Health Savings Accounts and is working to simplify certain plan designs.
BCBSFL continues to work towards a definitive agreement between its subsidiary, Florida Combined Life Insurance Company (Jacksonville, FL) and USAble Life, a subsidiary of Arkansas Blue Cross and Blue Shield (both of Little Rock, AR).
BCBSFL operates in a highly competitive environment, as many national competitors also target the Florida market.
BCBSFL increased total membership although it exited certain Medicare+ Choice markets that proved to be chronically unprofitable.