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He holds an MBA from Pepperdine University and a bachelors degree in business administration from Roosevelt University. Health Care Service is a mutual insurer owned by policyholders. houseboat netherlands / brigada pagbasa 2021 memo region 5 / maurice smith hcsc wife. Yet in 2015, Fitch Ratings assessed its financial strength still at 'A+' and gave it an 'A' for likelihood of default and senior unsecured rating. About Health Care Service Corporation Get the best business coverage in Chicago, from breaking news to razor-sharp analysis, in print and online. Throughout his nearly 28 years of service with HCSC, Smith also previously served as president of its Illinois health plan, where he was responsible for the overall financial performance, long-term growth strategy and strategic planning of Illinois' largest health insurance company. As the largest customer-owned health insurance company in the U.S., HCSC serves over 17.6 million members, generates over $54 billion of annual revenue, and manages over $110 billion of medical spend annually. As of 2014[update], HCSC was the country's largest nonpublic health insurer and the fifth-largest health insurer overall, with more than 16 million members. As president, Maurice Smith is responsible for overall strategic direction of the company including the organization's long-term growth strategy. Health Care Services Corp. CEO Maurice Smith. 130 E. Randolph St. The company's next largest state in terms of premiums is Oklahoma, accounting for approximately 9% of premium. For more information, please visitHCSC.com, visit ourFacebookpageor follow us onTwitter. It concentrates its operations in Illinois, Montana, New Mexico, Oklahoma, and Texas. Chicago, IL 60601 Maurice Smith . He also oversaw HCSCs subsidiaries and served as the Chairman of Dearborn National Life Insurance Company. The site may also contain non-Medicare related information. Such strategies will be tested in the future as the health care system continues to grapple with the spread of the coronavirus strain COVID-19 and high unemployment that is expected to disrupt health insurance coverage for many. Aetna, for example, combined with CVS Health 18 months ago to combine leading insurance and pharmacy offerings. Between 2009 and 2013, HCSC's five-year average of return on capital was 10.5%. Meanwhile, last year was a banner year for HCSC. He has an MBA from Pepperdine University and a bachelors degree from Roosevelt University. Maurice Smith President at Maurice Smith Productions . Maurice Smith. How the coronavirus pandemic changes that equation, however, is challenging to predict. HCSC is the country's largest customer-owned health insurer, with nearly 17 million members across its health plans in Illinois, Montana, New Mexico, Oklahoma and Texas. There has been some speculation that it could become a part of Anthem, an investor-owned publicly traded operator of Blue Cross and Blue Shield plans in 14 states. In general, to best serve our customers now and into the future of the rapidly changing health care landscape, we are rebalancing our resources to meet the diverse needs of our customers, provider partners and other stakeholders, the email said. An income tax benefit related to the enactment of the Tax Cuts and Jobs Act equal to $833 million contributed to the sizeable ROC ratio during the first half of 2018. Health Care Service Corporation (HCSC), the nation's largest customer-owned health insurer, today announced the departure of President and CEO Paula Steiner, who led the organization since 2016. Chairperson: Maurice Smith. Other Adobe accessibility tools and information can be downloaded at About Blue Cross Blue Shield of Texas Maurice previously was President of HCSC's Illinois Plan, the state's largest health insurance company. Blue Cross and Blue Shield of Illinois is a division of HCSC, a . 1-877-812-1590, Pritzker meeting with Walgreens after backing off on abortion pill, Walgreens wont sell abortion pills in 20 states after warning, Walgreens cuts its stake in Option Care Health, Sponsored Content: Finalists named for 2023 Chicago ORBIE Awards, The Most Powerful Women In Chicago Business. As president and CEO, Maurice Smith is responsible for overall strategic direction of the company including the organization's long-term growth strategy. During 2014 HCSC profits decreased "from medical losses and expenses associated with the company's aggressive addition of members sourced from ACA exchanges". Health Care Service Corp. has named a new chief executive with a three-decade history working for the company to lead the parent of Blue Cross and Blue Shield plans in five states. Health Care Service Corporation, a Mutual Legal Reserve Company. Click here to get the full experience on your screen. I am honored to lead HCSC, a company that for more than 90 years has focused on innovation, execution and through the dedication of our nearly 24,000 employees helped expand access to quality, cost-effective health care to all Americans, said Maurice Smith. We will continue to take action to focus and execute on a strategy that will propel this exciting and innovative company into the next phase of its evolution, while providing long-term value to customers, medical and other health care providers, employees and other partners in the dynamic health care industry., This is a BETA experience. In addition, Meanwhile, Cigna bought pharmacy benefit manager Express Scripts for $67 billion last year. Now it needs a new CEO pronto. maurice smith hcsc wife. maurice smith hcsc wifehtml5 interactive animation. E-mail oureditor [7] The site may also contain non-Medicare related information. In each incident, the suspect forced his way inside restaurants, sometimes shattering glass, taking items and fleeing on foot, police said. 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He previously served as president of Blue Cross and Blue Shield of Illinois where he was responsible for the overall financial performance, long-term growth strategy and strategic planning of Illinois largest health insurance company, serving more than 8 million members. You are leaving this website/app ("site"). Find Maurice Smith's accurate email address and contact/phone number in Adapt.io. Chicago, Illinois, United States. And to better control the cost and quality of medical care, it's opening 10 primary care clinics in Dallas and Houston next year. I am delighted to welcome him as chair," said Ali Malekzadeh, Roosevelt University president. A Mutual Legal Reserve Company, HCSC is an independent licensee of the Blue Cross and Blue Shield Association. He is a member of the Board of the Economic Club of . [3], In 2010 HCSC nearly doubled its income to $1.09 billion, and began "a streak of billion-dollar profits for 4 straight years". As of May 1, 2019, HCSC announced an in-house educational program aimed at developing the skills of its employees, dubbed Blue University. "We will continue to take action to focus and execute on a strategy that will propel this exciting and innovative company into the next phase of its evolution, while providing long-term value to customers, medical and other health care providers, employees and other partners in the dynamic health care industry," he said in a statement. President, HCSC. Maurice Smith joined Blue Cross Blue Shield in 2021. You may opt-out by. "This is a good example of proactive corporate governance and, frankly, you don't see that every day.". Click below to see everything we have to offer. Health Care Service Corporation HCSC is the largest customer-owned health insurer in the United States, covering over 16 million members across its Blue Cross and Blue Shield health plans in . See Maurice S Smith's compensation, career history, education, & memberships. HCSC's revenue continues to be concentrated in Illinois and Texas, accounting for 83% of premium for the full year 2017. Director at Federal Reserve Bank of Chicago - View - Federal Reserve Bank of Chicago org chart. Maurice Smith President and CEO, Health Care Service Corp. Tweet Share Share Email More. The site may also contain non-Medicare related information. The two, which intend to transform health care delivery, are in the process of launching a network to provide more vulnerable beneficiaries with access to local resources to address social factors that affect health. 312.653.7581 http://access.adobe.com. Maurice Smith drives HCSC's overall strategic direction, including its long-term growth strategy. Health Care Service is the parent of Blue Cross and Blue Shield plans in Illinois, Texas, Oklahoma, New Mexico and Montana. He also served as the chairman of the board of directors for DearbornLife Insurance Company, a subsidiary of HCSC. [email protected]. The site may also contain non-Medicare related information. Lesar said he is "pleased that Maurice will lead HCSC at this critical time for . Maurice was Chairman of the Board for Dearborn National Life Insurance. He will begin this new position immediately. The board and I look forward to working with him and the rest of the HCSC team to ensure a continued success in simplifying the health care experience and helping people achieve their health care goals., Health Care Service Corp. CEO Maurice Smith. Blue Cross and Blue Shield ofTexas(BCBSTX) the only statewide, customer-owned health insurer inTexas is the largest provider of health benefits in the state, working with nearly 80,000 physicians and health care practitioners, and 500 hospitals to serve 6 million members in all 254 counties. Revenues last year totaled $38.6 billion, making it the country's sixth-largest health . It's the dominant insurer in Illinois, Montana and Oklahomaand it's a close No. HCSC, by contrast, has been more cautious on deal-making. Suite 3200 CHICAGO Health Care Service Corporation (HCSC) announced today that its Board of Directors has named current president, Maurice Smith, as chief executive officer and president, effective June 1, 2020. This new site may be offered by a vendor or an independent third party. As the largest customer-owned health insurance company in the U.S., HCSC serves over 17.6 million members, generates over $54 billion of annual revenue, and manages over $110 billion of medical spend annually. Musk Made a Mess at Twitter. A potential contender for the permanent role is newly named HCSC President Maurice Smith, who has been with the organization for more than two decades and led Blue Cross of Illinois before Steiner's departure. Blue Cross Blue Shield Building, home of Health Care Service Corp. as photographed from Maggie Daley [+] Park in Chicago, Illinois on June 24, 2017. Finch stated that "lack of geographic diversification has historically kept HCSC out of the 'AA' rating category and that HCSC would be downgraded if it were no longer to market itself as a Blues plan. Smith's three-year term will begin September 1, 2021. Civic and business leader Jaime di Paulo, President and CEO of the Illinois Hispanic Chamber of Commerce (IHCC), was voted into the Roosevelt University Board of Trustees at the December board meeting. E-mail oureditor CHICAGO - Health Care Service Corporation (HCSC) announced today that its Board of Directors has named current president, Maurice Smith, as chief executive officer and president, effective June 1, 2020.At that time, David Lesar, will step down as the company's interim CEO; he will remain a member of the Board of Directors. The most common ethnicity at HCSC is White (60%). Health Care Service Corp. (HCSC) on May 5 named Maurice Smith its new president and CEO, effective June 1. Since that time, he worked in many functions at HCSC assuming increased responsibility, excelling in each position and demonstrating solid strategic leadership. 21. Maurice S Smith is President/CEO at Health Care Service Corporation. [2], HCSC reported a strong underwriting profit in 2017 after losses related to Affordable Care Act (ACA) exchange-sourced business in 2014 and 2015. Copyright Health Care Service Corporation. Alongside Blue University, HCSC has partnered with local universities where it operates to offer master's degree and certificate partnerships for employees. HCSC booked $38.6 billion in revenue last year while paying a total of $25 million for CEO services (that includes . A potential contender for the permanent role is newly named HCSC President Maurice Smith, who has been with the . HCSC board member and former energy executive David Lesar is serving as interim CEO. Others named Maurice Smith. May 05, 2020, 14:02 ET. He succeeds Board of Trustees chair Patricia Harris, former chief global diversity officer of McDonald's Corporation. Smith began his career at HCSC in 1993 and has served in a wide variety of roles, including business development, corporate transactions and as President of Blue Cross and Blue Shield of Illinois. One option is Adobe Reader which has a built-in screen reader. File is in portable document format (PDF). The company also provides various care management and wellness resources. 11% of HCSC employees are Black or African American. Board members had grown frustrated with Steiner's relatively cautious expansion strategy amid rapid industry consolidation. After three years at the helm, CEO Paula Steiner left the Chicago-based health insurance giant last monthfollowed by Chief Financial Officer Eric Feldstein. Blue Cross and Blue Shield of New Mexico is a division of HCSC, a . HCSC employees are most likely to be members of the democratic party. Get Hcsc company's verified contact number +1*****725, web address, revenue, total contacts 528, industry Healthcare, Pharmaceuticals, & Biotech and location at Adapt.io Among those taking the cue is UnitedHealth Group. Chicago, IL 60601 To view this file, you may need to install a PDF reader program. To view this file, you may need to install a PDF reader program. In 2021, under Smith's leadership, HCSC announced its biggest expansion in Medicare Advantage. Bulking up has helped larger payers create economies of scale and expand capabilities as the health care landscape shifts. But, over the next few years, covering the cost of care for those who continue to fall sick while the country works toward a vaccine and more effective therapies will be added to the surgeries and routine care that now are slowly returning. Maurice Smith, who We will continue to take action to focus and execute on a strategy that will propel this exciting and innovative company into the next phase of its evolution, while providing long-term value to customers, medical and other health care providers, employees and other partners in the dynamic health care industry. But getting bigger quickly, likely through acquisitions, may be the top item on the new CEO's agenda. Maurice joined HCSC nearly 27 years ago as an intern. About Health Care Service Corporation Other Adobe accessibility tools and information can be downloaded at http://access.adobe.com. President and CEO at Health Care Service Corporation (HCSC) Maurice Smith Bio. "Maurice has deep industry experience and a proven track record of strong leadership, and he recognizes the challenges we must confront, and the opportunities we have now to advance our purpose. Last year's $70 billion merger of Aetna and CVS Health joined one of the nation's largest health insurers with its biggest pharmacy chain. He has held . Sources identified him then as a contender for the top job, which has been held in the meantime by interim CEO David Lesar, who now will return to his previous role as a board member. He has held many senior financial management roles at HCSC, including head of corporate transactions and investment strategies. We will continue to take action to focus and execute on a strategy that will propel this exciting and innovative company into the next phase of its evolution, while providing long-term value to customers, medical and other health care providers, employees and other partners in the dynamic health care industry. Improving the attack has been a focus for the Fire, who compiled 12 shutouts last year but missed the playoffs. Steiner and Feldstein could not be reached for comment. The company reported annualized return on capital of greater than 40% through the first half of 2018, where achieving a high single-digit ROC would be consistent with Fitch's median guideline for the current rating category. During his tenure, Smith grew the organizations annual revenue by 35 percent. Maurice brings a broad perspective and deep understanding of the industry having held many senior financial management roles, including head of corporate transactions and investment strategies. [6] Blue University will focus on a number of topics such as healthcare management, leadership, marketing and sales, technology, and service delivery to name a few. I am honored to lead HCSC, a company that for more than 90 years has focused on innovation, execution and through the dedication of our nearly 24,000 employees helped expand access to quality, cost-effective health care to all Americans, Smith said in a statement. Health Care Service Corporation, a Mutual Legal Reserve Company. Blue Cross and Blue Shield of Texas is a division of HCSC, a Mutual Legal Reserve Company, an independent licensee of the Blue Cross and Blue Shield Association. . As of 2015[update] HCSC's operations are concentrated in Illinois and Texas, which accounted for 84% of total revenue through the first nine months of 2014, followed by Oklahoma (9% of revenue). Health Care Service Corporation (HCSC) announced today that its Board of Directors has named current president, Maurice Smith, as chief executive officer and president, effective June 1, 2020. He has . Jean-pierre Yvaral - $1500.00. President and Chief Executive Officer at HCSC - View - HCSC org chart. Throughout his nearly 27 years of service with HCSC, he also has previously served as president of Blue Cross and Blue Shield of Illinois where he was responsible for the . 2023, Roosevelt University, All Rights Reserved. Elected CEO in June 2020 . Insiders at Health Care Service say Smith is very community-oriented and that will serve the companys health plans well as the industry moves to address social determinants of health. Click here to get the full experience on your screen. He also oversaw HCSCs subsidiaries and served as the Chairman of Dearborn National Life Insurance Company. All Rights Reserved. February 3, 2021. All Rights Reserved. Maurice Smith is President and Chief Executive Officer of HCSC. Contract Terms: 1 yr(s) / $850,000 Signing Bonus - I am honored to lead HCSC, a company that for more than 90 years has focused on innovation, execution and through the dedication of our nearly 24,000 employees helped expand access to quality, cost-effective health care to all Americans, said Maurice Smith. File is in portable document format (PDF). File is in portable document format (PDF). President Emeritus Theodore "Ted" Gross (1988-2002) passed away at his home in Evanston, Illinois, on August 16, 2022. Smith most recently was president of Blue Cross and Blue Shield of Illinois, the largest of HCSCs health plans, where he was responsible for the overall strategic direction for Illinois health plan including the organization's long-term growth strategy, planning and performance.. To view this file, you may need to install a PDF reader program. Maurice Smith. Lesar will remain a member of the company's board. Blue Cross and Blue Shield of Oklahoma is a division of HCSC, a . Will His AI Plans Be Any Different? The company has about 24,000 current employees and is expected to add about 1,000 new jobs in customer and provider service, technology and digital capabilities this year, according to Thompson. HCSC's revenue continues to be concentrated in Illinois and Texas, accounting for 83% of premium for the full year 2017. Companies are positioning themselves to become not only insurers but providers of services by building more efficient delivery systems that they can control, Pliss says. Blue Cross of Illinois parent company, Health Care Service Corp., announced Tuesday it will slash about 400 positions to ready itself for fast industry growth, according to reports. The Board and I look forward to working with him and the rest of the HCSC team to ensure a continued success in simplifying the health care experience and helping people achieve their health care goals.. Under pressure to reduce health care costs and improve outcomes for members, HCSC's rivals have found creative ways to get closer to patients. Since then, he has held a number of executive roles with increasing responsibility, including senior vice president, Business Development and Subsidiary Management, divisional vice president, Business Development and Subsidiary Management, and vice president of Corporate Transactions and Business Analysis. At that time, David Lesar, will step down as the companys interim CEO; he will remain a member of the Board of Directors. "I look forward to working closely with the university's committed leadership, faculty, staff, and students to build on Roosevelt's history of advancing the social justice mission through education and knowledge.". Missing Crain's in print? maurice smith hcsc wife. HCSC, which owns Blue Cross & Blue Shield plans in Illinois and four other states, has stayed out of the large-scale dealmaking that's reshaping health care in the U.S. At that time, David Lesar, will step down as the companys interim CEO; he will remain a member of the Board of Directors. "On behalf of the entire Board of Directors, I am pleased that Maurice will lead HCSC at this critical time for the company and our country as we continue to work through the challenges of the COVID-19 pandemic," said David Lesar. CHICAGO, May 5, 2020 /PRNewswire/ -- Health Care Service Corporation (HCSC) announced today that its Board of Directors has named current president, Maurice Smith, as chief .