Horizon Blue Cross Blue Shield of New Jersey

Company Overview:

Company History: Horizon Healthcare Services, Inc. doing business as Horizon Blue Cross Blue Shield of New Jersey is the organization that is licensed to provide health insurance coverage through Blue Cross and Blue Shield plans in the state of New Jersey. Horizon provides coverage to about 3 million people in the state has 4,400 employees and has been operating since 1932. Blue Cross and Blue Shield plans grew out of a Texas project to provide hospital care to teachers and a physician care plan for lumber and mine workers in the Pacific Northwest. The 39 Blue Cross and Blue Shield plans today cover more than 99 million people in 50 states, D.C. and Puerto Rico. Horizon Blue Cross Blue Shield of New Jersey, operating through several subsidiaries, has offerings that include HMO (Health Maintenance Organization), POS (Point of Service), PPO (Preferred Provider Organization), Medical Savings Accounts, Open Access and Traditional Indemnity Plans. Also, plans for behavioral healthcare and dental services are available. A subsidiary, Horizon Healthcare Insurance Agency, sells life insurance, long term disability insurance and long term care coverage. Its subsidiary Horizon Casualty Services manages workers’ compensation claims and the Horizon NJ Health subsidiary participates in the state of New Jersey’s Medicaid program. Of Horizon’s 3.4 million customers at the end of 2006, 1.8 million were part of large groups (companies with more than 50 employees) while small groups, federal employee, state government employees, individuals, Medicare supplement and Medicaid accounted for the remainder. Self funded accounts represented slightly more than half (51.2%) of the total as opposed to fully insured accounts. Horizon’s assets totaled $4.39 billion at the end of 2006 and revenues for 2006 were $6.9 billion. Horizon had entered the New York market for health insurance in 1999. In 2006, it decided to withdraw from that market. It attributed that withdrawal to dramatic changes in the New York competitive environment.
Principle Sales Methods: Of Horizon’s 3.4 million customers at the end of 2006, 1.8 million were part of large groups (companies with more than 50 employees) while small groups, federal employee, state government employees, individuals, Medicare supplement and Medicaid accounted for the remainder. Self funded accounts represented slightly more than half (51.2%) of the total as opposed to fully insured accounts. Horizon’s assets totaled $4.39 billion at the end of 2006 and revenues for 2006 were $6.9 billion. Horizon had entered the New York market for health insurance in 1999. In 2006, it decided to withdraw from that market. It attributed that withdrawal to dramatic changes in the New York competitive environment. In addition to agents and brokers, Horizon uses mail and the Internet and telephone in selling its products.

Health Business: Horizon Healthcare Services, Inc. doing business as Horizon Blue Cross Blue Shield of New Jersey is the organization that is licensed to provide health insurance coverage through Blue Cross and Blue Shield plans in the state of New Jersey. Horizon provides coverage to about 3 million people in the state has 4,400 employees and has been operating since 1932. Blue Cross and Blue Shield plans grew out of a Texas project to provide hospital care to teachers and a physician care plan for lumber and mine workers in the Pacific Northwest. The 39 Blue Cross and Blue Shield plans today cover more than 99 million people in 50 states, D.C. and Puerto Rico. Horizon Blue Cross Blue Shield of New Jersey, operating through several subsidiaries, has offerings that include HMO (Health Maintenance Organization), POS (Point of Service), PPO (Preferred Provider Organization), Medical Savings Accounts, Open Access and Traditional Indemnity Plans. Also, plans for behavioral healthcare and dental services are available. A subsidiary, Horizon Healthcare Insurance Agency, sells life insurance, long term disability insurance and long term care coverage. Its subsidiary Horizon Casualty Services manages workers’ compensation claims and the Horizon NJ Health subsidiary participates in the state of New Jersey’s Medicaid program. Of Horizon’s 3.4 million customers at the end of 2006, 1.8 million were part of large groups (companies with more than 50 employees) while small groups, federal employee, state government employees, individuals, Medicare supplement and Medicaid accounted for the remainder. Self funded accounts represented slightly more than half (51.2%) of the total as opposed to fully insured accounts. Horizon’s assets totaled $4.39 billion at the end of 2006 and revenues for 2006 were $6.9 billion. Horizon had entered the New York market for health insurance in 1999. In 2006, it decided to withdraw from that market. It attributed that withdrawal to dramatic changes in the New York competitive environment.