Philadelphia-based Independence Blue Cross presented a voluntary severance program to approximately 900 employees Thursday, The Philadelphia Inquirer reports.
The program is available to employees with at least 15 years of service as of Dec. 31, 2017. Employees exempt from the program include administrators of self-insured employer health plans, Medicaid managed care subsidiary AmeriHealth Caritas in Philadelphia and Conshohocken, Pa.-based subsidiary Tandigm Health, which coordinates care with primary care physicians.
Independence told employees via email Thursday the deal comes from a position of financial strength. The payer employs more than 10,000 and achieved $67 million in net income last year, the report states.
"This approach will allow us to reshape our business while offering benefits to associates who may be considering a change, whether to explore new business opportunities or focus on personal interests," Independence CEO Daniel Hilferty wrote in the email.
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