Why Should You Have Blue Cross
Below is a MRR and PLR article in category Finance -> subcategory Insurance.
Why You Should Consider Blue Cross
Introduction to Blue Cross
Blue Cross, a well-known name in health insurance, has a rich history dating back to 1929. It was initially created by Justin Ford Kimball at Baylor University in Dallas, Texas. The program was designed to provide teachers with 21 days of hospital care annually for just $6. This plan quickly expanded beyond teachers to cover more individuals in the Dallas area and eventually across the nation.
Evolution and Growth
By 1939, "Blue Cross" became a term that encompassed other health insurance plans as well. It represents an association of various health insurance providers throughout the United States. The American Hospital Association (AHA) later adopted the Blue Cross symbol as an emblem for plans that met its standards. Today, Blue Cross operates as an independent membership association offering coverage primarily for hospital-related expenses, with benefit payments directly disbursed to hospitals. Coverage and benefits can vary among the different Blue Cross associations.
Blue Cross and Blue Shield
Apart from Blue Cross, there is also Blue Shield. While Blue Cross focuses on hospital care, Blue Shield provides coverage for surgical and medical care in specific regions. The Blue Cross logo, designed by artist Joseph Binder under the supervision of E.A. van Steenwijk from Blue Cross and Blue Shield of Minnesota, is a recognizable emblem across the healthcare landscape.
National Reach and Importance
Currently, Blue Cross connects around 40 health insurance companies across the US, Canada, and Puerto Rico, functioning as franchises in designated regions. Its services are accessible in every US state and Canadian province. Blue Cross plays a crucial role in providing coverage to state and federal employees and is significant in the administration of Social Security programs.
Challenges in Health Insurance
Despite its extensive reach, the health insurance industry, including Blue Cross, faces significant challenges in the United States. There is a constant tension between the insurance companies' need for profit and their clients' need for affordable healthcare. The rising cost of healthcare has led to approximately one-third of the US population being unable to afford insurance, making medical expenses a leading cause of bankruptcies.
Balancing Risks
Insurance companies must also prepare for unforeseen events like widespread health emergencies, which can lead to overwhelming hospital bills. To mitigate such risks, insurers implement checks and balances to control the payouts to beneficiaries. There is a delicate balance between making healthcare accessible and preventing abuse of medical services, such as unnecessary doctor visits for minor issues.
The Role of Healthy Living
Encouraging healthy lifestyles can potentially lower insurance costs. If individuals maintain healthy habits, the frequency and cost of claims would decrease, theoretically reducing premiums. However, there is also a concern that too much of the saved expenses might be directed toward executive salaries or retained as company profits.
In conclusion, Blue Cross remains a cornerstone of health insurance in the US, adapting over time to meet the needs of its members. Balancing affordable healthcare access and profitability continues to be a key focus in the ever-evolving landscape of health insurance.
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