Since CEO Dan Loepp announced the company's three-year strategic business transformation project in November 2015, Blue Cross has reduced expenses by 6.5 million, according to a Loepp memo to staff Friday.
But uncertainty about what President-elect Donald Trump and a Republican-dominated Congress might do to alter insurance markets by repealing or changing the Affordable Care Act concerns top Blue Cross executives.
Blue Cross and its related subsidiaries employ about 7,900 workers.
Moreover, Blue Cross has informed independent agents it will cut commissions next year to further reduce costs.
All of those choices are made as the result of a set of “rules” that you have in your head.
You have a certain internal logic as to why you make the choices that you do.
In a previous interview, Andy Hetzel, vice president of corporate communications for Blue Cross, told that the state's largest health insurer had identified up to 0 million in savings opportunities in at least 151 areas.
In an email statement Friday, Hetzel said he wasn't familiar with Blue Cross's current financial numbers for the individual market.
But experts believe that more individual business will come through the online Obamacare health insurance exchanges, at least for 2017, than through traditional agents.
Thus, it shouldn’t be surprising that if you change a few of those internal “rules,” you can end up saving a ton on food expenses over the course of a year.
Here are twenty such strategies you can apply to change your food spending habits.
Over the past several years, Blue Cross has been attempting to diversify its business lines — having some success by boosting revenue in Medicare Advantage managed care service line — to help subsidize its commercial individual and Medicare supplemental insurance lines, which have lost hundreds of millions of dollars in recent years.
Blue Cross of Michigan has averaged revenue of .7 billion with a three-year profit average of 2 million on all business lines from 2012 to 2014, according to a recent report by Chicago-based Fitch Ratings.
That’s actually quite a lot of money when you consider that the average week contains just 21 meals and that it’s relatively easy to eat a meal that costs less than $1.