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Mid-Atlantic Region's CareFirst BlueCross BlueShield Finds Success in Small/Mid-Size and Self-Insured Markets

"Insurers inMaryland have a hard time distinguishing themselves from competitors on price because the state requires that all insurers pay hospitals about the same rate for each procedure," said Jan Shuxteau, analyst with HealthLeaders-InterStudy and author of the report. "One way that CareFirst has succeeded in this market is by providing service to self-insured companies that are not under state mandates."

According to the report, nearly 1.58 million people are enrolled in self-insured plans inMaryland. Of that group, about 44 percent are in a CareFirst plan. InMaryland,Washington, D.C. andVirginia, CareFirst has a combined self-insured membership of more than 896,000 as of January 2008.

On the financial side, CareFirst's premium revenue increased by nearly 11 percent from 2006 to 2007, from $5.28 billion to $5.86 billion, while net income rose by almost 10 percent, to $180.5 million.

Serving about 3.1 million members inMaryland, northernVirginia and the District, CareFirst is not only the largest healthcare insurer in the area, but it also is a large employer with more than 5,400 employees in the Mid-Atlantic region. Additionally, CareFirst serves more than 540,000 members of the Federal Health Benefits Program.

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SOURCE HealthLeaders-InterStudy