... singing the blues.
Folks we're never going to finish Credit Unions: 101 if you keep bringing this other stuff up! But, since these little side forays sure boost readership, lets pause a moment... you seem to be interested.
Not going to try and take on the difficult issues which arise with healthcare - a problem long smoldering, which has recently gone ballistic. But, a brief look at BCBSNC may lead you to a couple of SECU "aha" moments.
BCBSNC has been by far the #1 provider of healthcare insurance in North Carolina for decades. The State of North Carolina healthcare insurance plans were all managed by the company. From humble roots, BCBSNC grew into the dominant health insurer in our State (sound familiar?).
Did you know that BCBSNC started out as a small, local, not-for-profit mutual company, (sound familiar?) in Durham/Chapel Hill in 1933? It started in the depths of the Great Depression (sound familiar?) to help give working men and women - whether Durham tobacco worker or university staffer - access to healthcare (sound familiar?)
Back then, workers of all stripes couldn't afford healthcare services (sound familiar?). BCBSNC was established to collect a small monthly insurance premium in advance from all workers, which were then pooled to pay the healthcare costs for those who needed it. Sort of a cooperative insurance club with members helping each other get by (sound familiar?) Great idea! The workers benefited, the doctors and hospitals got paid, the community as a whole was healthier.
Did you know that the driving force behind the creation of BCBSNC was a powerful banker from a highly influential North Carolina family named John Sprunt Hill? (sound familiar?) If it doesn't, please take a look at this link [Credit Unions: 101]. Quite a "coincidence", don't you think?
BCBSNC in the past was an icon of service, one of the premier home-grown companies in North Carolina (sound familiar?) Best I know BCBSNC still is a very fine company. But with success, many things have changed.
Criticism has grown sharply as BCBSNC has sought to actively expand beyond North Carolina, attempted to convert to a for-profit status, and to merge with out-of-state health insurers (sound familiar?).
As BCBSNC came to be viewed as an adversary rather than ally, it lost its tax exempt status in North Carolina. In profiling the company, superb customer service is not necessarily the first thought which comes to mind for many policyholders. (sound familiar?)
"Canary in a coal mine"?
... "aha" moments for SECU members?
Good read
ReplyDeleteI’ve never had any issues with BCBSNC. Only issues I have had are medical providers coding a service wrong, which makes the insurance company reject it. Had both PPO and HDHP with BCBSNC. One of the issues at hand is everyone uses insurance as the primary way to pay for healthcare instead of asking what the cash price is. Most issues with cost are due to the medical system, not insurance. Kind of hard to save for healthcare if the price for everything is disguised and highly variant from place to place.
ReplyDeleteDoesn't secu use BCBSNC?
ReplyDeleteSounds like the perfect place for Bomba to move to.
ReplyDeleteWonder how many First Citizens folks will follow him. I've heard rumors the dress code is going to be tightened up and more days on-site for IT.
DeleteNow I'll admit I see little purpose for non front facing folks to dress up, but this could get a lot of the chaff to leave. I only hope it doesn't chase the good ones away because there aren't enough of them.
But maybe that's the point. Return to office mandates are often a tool to thin the workforce without paying severance.
Just this year, BCBSNC lost the bid on covering state employees. After 40 years with BCBSNC, the NC State Health plan will be administered by Aetna starting in 2025.
ReplyDelete