Independence Hospital Indemnity Plan, through Independence Blue Cross (IBC), provides health insurance and related services to some 2.5 million members in southeastern Pennsylvania and, through its affiliates, to more than 9.6 million people nationwide. The company's plans include Personal Choice (PPO), Keystone Health Plan East (HMO and POS), and traditional indemnity options for groups, families, and individuals. It also offers supplemental Medicare, dental, vision, life, and disability insurance. Through subsidiary AmeriHealth Administrators, IBC provides third-party administration (TPA) services. It is an independent licensee of the
IBC provides plans for individuals and families who foot the full cost of insurance on their own; portable benefits for students who need coverage at home, on campus, and even abroad; and guaranteed-coverage plans. It also provides coverage for large employer groups and small businesses; Medicare supplemental products; and low-income health plans such as Children's Health Insurance Program (CHIP) and Special CareSM.
Through AmeriHealth, IBC is also the main shareholder in the AmeriHealth Mercy Family of Companies, which includes Medicaid insurers
The company offers its services in 25 US states and Washington, DC.
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The company offers coverage for large employer groups and small businesses, as well as individuals and families.
IBC's revenues grew by 5% in 2013 due to higher premium revenues and management fees.
The company's net income decreased by 26% that year as the result of an increase in claims and operating expenses.
IBC and BCBSM plan to expand the group's Medicaid services into new territories, as Medicaid enrollment levels are expected to rise under new health reform laws.
In 2015 IBC launched Blue Insider, an exclusive discount program that allows its members to save up to 60% on a wide range of services from national, regional, and local businesses, as well as attractions and events.
IBC also teams up with medical institutions to achieve its research and development goals. In 2014 it collaborated with Drexel University on several research projects aimed at improving the delivery of health care. The company also formed a joint venture with DaVita HealthCare Partners to form Tandigm Health to improve quality and lower the costs of health care in one of the US' largest and most expensive health care markets.
In 2013 the company created new products and services that consider budget, lifestyle, and health care needs, and introduced almost 110 new health plans.
Addressing issues of improving quality of care, lowering costs, and increasing communications and collaboration between clinicians and patients, IBC and fellow Blues brothers
In 2010 IBC moved to further reduce expenditures and simplify its operations by selling its FutureScripts business, which provides pharmacy benefits management (PBM) services to some 1 million members, to fellow PBM
IBC's board approved a new Independence Blue Cross Foundation to identify and develop ways to deliver health care in the region in 2010. Funding of $10 million to establish the foundation was provided.
IBC was founded as the Associated Hospital Service of Philadelphia in 1938.
1901 MARKET ST
Philadelphia, PA 19103-1480
Phone: 1 (215) 241-2400
Employer Type: Privately Owned
EVP and COO: Yvette D. Bright
Chairman: M. Walter D'Alessio
President and CEO: Daniel J. Hilferty
Employees (This Location): 3,000
Employees (All Locations): 9,500