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May 05, 2020, 14:02 ET. 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 is a member of the Board of the Economic Club of . As of May 1, 2019, HCSC announced an in-house educational program aimed at developing the skills of its employees, dubbed Blue University. A Mutual Legal Reserve Company, HCSC is an independent licensee of the Blue Cross and Blue Shield Association. Aetna, for example, combined with CVS Health 18 months ago to combine leading insurance and pharmacy offerings. 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. Steiner and Feldstein could not be reached for comment. Prior to being named president of HCSC, Maurice was president of Blue Cross and Blue Shield of Illinois where he was responsible for the overall strategic direction for Illinois health plan including the organization's long-term growth strategy, planning and performance. 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. "Roosevelt's focus to increase access to education for all has never been more important," said Smith. File is in portable document format (PDF). Revenues last year totaled $38.6 billion, making it the country's sixth-largest health insurer. Opinions expressed by Forbes Contributors are their own. 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. Maurice previously was President of Blue Cross and Blue Shield of Illinois, the state's largest health insurance . 21. Smith wasn't made available for an interview. E-mail oureditor "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. He brings a broad perspective and deep understanding of the industry to his role from his 30 years of service with the company. For more than a decade the insurer has partially owned pharmacy benefit manager Prime Therapeutics, along with other Blues plans. HCSC booked $38.6 billion in revenue last year while paying a total of $25 million for CEO services (that includes . 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. Currently working as President, Blue Cross and Blue Shield-Illinois at Hcsc in Illinois, United States. Click below to see everything we have to offer. 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. Health Care Service Corporation (HCSC) is a member-owned health insurance company in the United States. Under pressure to reduce health care costs and improve outcomes for members, HCSC's rivals have found creative ways to get closer to patients. Maurice joined HCSC nearly 27 years ago as an intern. Maurice joined HCSC nearly 27 years ago as an intern. 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. Suite 3200 Health Care Service Corporation, a Mutual Legal Reserve Company. He also oversaw HCSCs subsidiaries and served as the Chairman of Dearborn National Life Insurance Company. 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. Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries. Smith, who joined Health Care Service as an intern nearly 27 years ago, will be the first permanent CEO of Health Care Service since Paula Steiner surprised company observers by stepping down less than a year ago after a four-year stint as the companys top executive. As of 2019, it was noted to be the third-largest commercial health insurer in the United States [1] It serves nearly 16 million members. 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. Maurice Smith contract and salary cap details, including signing bonus, guaranteed salary, dead money, roster bonuses, and contract history. The company also provides various care management and wellness resources. Wed. 2021. http://access.adobe.com. Revenues last year totaled $38.6 billion, making it the country's sixth-largest health . Health insurers in the short term are profiting from an unexpected reprieve in paying claims tied to elective surgeries, which for weeks have been postponed to cope with the crisis. Maurice also oversaw HCSCs subsidiaries and served as the Chairman of Dearborn National Life Insurance Company. (Photo By Raymond Boyd/Getty Images). 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. "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. 130 E. Randolph St. Smith's three-year term will begin September 1, 2021. The company operates the Blue . About Blue Cross Blue Shield of Texas Most PDF readers are a free download. greg_thompson@hcsc.net. 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.. 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 executive officer and . 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. File is in portable document format (PDF). 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. Maurice Smith drives HCSC's overall strategic direction, including its long-term growth strategy. "Stephen has been instrumental in the company's ambitious growth strategy and . David Westin speaks with top names in finance about the week's biggest issues on Wall Street. He has held . Health Care Service Corporation is the countrys largest customer-owned health insurer and fifth largest health insurer overall, with nearly 16 million members in its health plans in Illinois, Montana, New Mexico, Oklahoma and Texas. The insurer says it expects 16 percent growth in the lucrative, fast-growing segment this year. The middle management roles will be eliminated to reduce organizational redundancy and improve decision-making efficiency, according to HCSC spokesman Greg Thompson in an email to the Chicago Sun-Times. You are leaving this website/app ("site"). For more information, please visitHCSC.com, visit ourFacebookpageor follow us onTwitter. Staying current is easy with Crain's news delivered straight to your inbox, free of charge. 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 . One option is Adobe Reader which has a built-in screen reader. HCSC was formerly known as Hospital Service Corporation and changed its name to Health Care Service Corporation in 1975. HCSC, by contrast, has been more cautious on deal-making. As of 2019, it was noted to be the third-largest . Maurice Smith is President and Chief Executive Officer (CEO) of Health Care Service Corporation (HCSC). 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. "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.". Meanwhile, last year was a banner year for HCSC. HCSC CEO Maurice Smith elected Chair of Roosevelt Board of Trustees, Leader of Illinois Hispanic Chamber of Commerce Joins Roosevelt Board of Trustees, Inaugural American Dream Award Presented to Three Student Leaders, Remembering Theodore "Ted" Gross, Fourth President of Roosevelt University, International Applicants and Foreign Degree Recipients. On average, employees at HCSC stay with the company for 5.9 years. Greg Thompson He also oversaw HCSCs subsidiaries and served as the Chairman of Dearborn National Life Insurance Company. . To view this file, you may need to install a PDF reader program. Health Care Service Corporation maurice smith hcsc wife. Smith's elevation wasn't a surprise. Other Adobe accessibility tools and information can be downloaded at In addition, 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. 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. President, HCSC. 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. Health Care Service is the nations fifth-largest health insurer with nearly 16 million health plan members. In this role, Smith is responsible for overall strategic direction of the company including the organization's long-term growth strategy.