Blue Cross and Blue Shield of Illinois

Blue Cross and Blue Shield of Illinois (BCBSIL) is an American health insurance provider headquartered in Chicago, Illinois, United States. Founded in 1936 as a nonprofit hospital service plan, it is a division of Health Care Service Corporation (HCSC) serving 8.8 million members. BCBSIL's segments lude Group (employer-sponsored plans), Individual/Family (personal coverage), and Government Programs (Medicare, Medicaid). It operates statewide with digital platforms for claims and telehealth, partnering with 90% of Illinois hospitals and 95% of physicians. As part of HCSC, its supply chain ludes pharmacy benefit managers and IT vendors, complying with HIPAA for data security, NAIC solvency standards, and CMS risk adjustment, with vendor risk management under NIST frameworks for cybersecurity and third-party audits. The firm invests in value-based care. In 2024, HCSC (luding BCBSIL) reported revenues of $32 billion, up 3% from 2023, with medical loss ratio at 86.5% amid membership growth.