Arkansas Blue Cross and Blue Shield provides health insurance products and related services for more than 400,000 members in Arkansas, making it the largest health insurer in the state. The company's health insurance plans include HMO, PPO, traditional, and supplemental Medicare. Dental, vision, disability, life, and workers' compensation insurance are provided through subsidiaries and affiliates. Arkansas Blue Cross and Blue Shield also provides third-party-administration (TPA) services for self-funded plans via its BlueAdvantage Administrators of Arkansas subsidiary. The not-for-profit mutual company is owned by its members and is an independent licensee of the Blue Cross and Blue Shield Association.
Arkansas Blue Cross and Blue Shield operates in about 75 counties in Arkansas. It has regional offices in Fayetteville, Fort Smith, Hot Springs, Jonesboro, Little Rock, Pine Bluff, and Texarkana.
Arkansas Blue Cross and Blue Shield has a joint venture to provide HMO services in partnership with Baptist Health. The venture, HMO Partners, operates throughout Arkansas under the Health Advantage brand. Another affiliate, Life and Specialty Ventures, is a life insurance provider owned by a group of Blue Cross and Blue Shield licensees.
Sales and Marketing
In 2012 Arkansas Blue Cross and Blue Shield expanded its range of sales techniques by opening its first retail insurance store, ArkansasBlue, in Little Rock. The company serves individual, employer group, and Medicare customers.
Revenues for Arkansas Blue Cross and Blue Shield increased 6% in 2011 due to higher premium income and decreased other expenses. Net income decreased, however, by 24% due to higher claims and operating expenses.
Founded in 1948, Arkansas Blue Cross and Blue Shield has managed to grow by providing a wider range of products and services, such as supplemental insurance products, that complement the company's core health insurance offerings. The company has also been promoting wellness plans to help customer control costs.
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