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
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
