The buyout offers, announced to employees Sept. 21, are available to all 8,650 non-bargaining unit employees at BCBS of Michigan and many of its subsidiaries. The insurer will potentially extend the offer to 2,060 bargaining unit employees.
In a note to employees, BCBS of Michigan President and CEO Daniel Loepp said, “There are significant financial headwinds on the horizon and our health insurance business remains challenged by administrative costs. We are at a point where we’ve decided to slow our hiring activity.”
The offers open Sept. 28 and close Oct. 23.
More articles on payers:
When telehealth cost-sharing waivers expire for 5 payers
CMS proposes payment changes to Medicare Advantage, Part D: 5 things to know
MedStar, CareFirst: New partnership to curb costs by $400M
At the Becker's 5th Annual Fall Payer Issues Roundtable, taking place November 2–3 in Chicago, payer executives and healthcare leaders will come together to discuss value-based care, regulatory changes, cost management strategies and innovations shaping the future of payer-provider collaboration. Apply for complimentary registration now.
