Blue Cross Blue Shield of Michigan partnership with Bloom Health will help employers successfully structure health benefits to control costs
First-to-market solution helps employers plan future health care expenses, while preserving choice and security for employees
MINNEAPOLIS – Feb. 23, 2011 — Blue Cross Blue Shield of Michigan today announced that it will partner with Bloom Health to offer employers a new defined contribution health benefit solution that will help them better manage changes brought on by national health reform and offer employers a more sustainable path forward in health care.
The new solution – known as GlidePathSM – will offer employers and consumers greater control over health care spending. Employers will see more predictable management of their health benefit costs and simplified administration, while employees get help choosing a plan that best fits their health and budget needs.
The Blues plan to pilot GlidePath to employers with active employees during the second half of 2011, with expanded rollout to the market planned in 2012.
GlidePath will be powered by Bloom Health, which was formed in 2009 to help employers use defined contribution health benefits to better manage their health care costs and to offer employees greater choice in selecting the benefits that best meet their needs.
GlidePath will enable employers to determine how much they want to spend on employee health benefits and then allocate pre-tax dollars on behalf of each employee’s health accounts. Employees then complete Bloom Health’s user-friendly health, financial and personality survey. The results instantly generate a customized list of recommended health plans and other related services that match each employee’s specific needs. Employees can then use funds from their health account to purchase the health plan of their choice.
“With health care costs climbing, employers face difficult decisions around providing health care benefits. Also, as new health reform requirements loom on the horizon, we wanted to create an innovative solution to deliver and help manage health care benefits for active and retired employees,” said Ken Dallafior, senior vice president of Group Sales and Corporate Marketing for the Michigan Blues. “By leveraging Bloom Health’s consumer expertise and leading-edge technology, we can offer employers a way to better manage risk all while preserving choice for their employees.”
With this new defined contribution solution, Blue Cross Blue Shield of Michigan becomes the first health insurance partner of Bloom Health in the country.
Blue Cross Blue Shield of Michigan, a nonprofit organization, provides and administers health benefits to 4.4 million members residing in Michigan in addition to members of Michigan-headquartered groups who reside outside the state. Blue Cross Blue Shield of Michigan is a nonprofit corporation and independent licensee of the Blue Cross and Blue Shield Association and is a limited partner of the Blue Cross Blue Shield Venture Partners, L.P., a corporate venture fund that has a minority ownership interest in Bloom Health. For more company information, visit http://www.bcbsm.com.Tweet