Blue Cross Blue Shield (BCBS) is an association of numerous affiliated insurance companies that function independently. Though the actual merger between Blue Cross and Blue Shield occurred in 1982, the company was founded much earlier in 1929 and has been a trusted insurer for nearly a century. Today in 2022, BCBS is one of the nation’s largest insurers, covering half of all U.S. federal employees. 

If you’re interested in obtaining a BCBS small business plan for your employees and want to learn more about BCBS, you’ve come to the right place. This guide will cover what BCBS is, its benefits, how coverage compares, and more. 

What Is Blue Cross Blue Shield (BCBS)?

The Blue Cross Blue Shield Association is a nationwide network of 35 independent and locally operated health insurance companies that provide health coverage to millions of people in every ZIP code and in all 50 U.S. states, the District of Columbia, and Puerto Rico. 

Blue Cross Blue Shield is essentially a group of health insurance companies offering a wide range of insurance policy options. BCBS is similar to a large multi-level department store in that the scope of its offerings seems to increase the likelihood of consumers finding a plan that suits their individual needs.

BCBS plans are a popular choice of health insurance, as demonstrated by the following BCBS facts and figures:

• There are 111 million health plan members insured under Blue Cross Blue Shield.
• Through their companies, Blue Cross Blue Shield insures one in three Americans.
• BCBS companies partner and contract with more than 90 percent of the nation’s doctors, hospitals, and specialists, which is more than any other health insurer.
• BCBS is the #1 choice for unionized workers and their families. 

Founded in 1929, the BCBS companies evolved from the country’s oldest health insurance provider by starting with a grassroots approach to prepaid hospital plans that ultimately would significantly influence the nation’s health care practices.

Overall, BCBS has distinguished itself through its focus on continuously improving its health care system, meeting the needs of local communities, and creating customized products and services.

What Are the Benefits of Using Blue Cross Blue Shield?

Blue Cross Blue Shield is a leading health insurance option because BCBS small business plans offer some of the lowest rates and most comprehensive coverage. It also provides what the majority of consumers shopping for small business medical insurance seek: plans with flexible options, a wide-ranging network of medical personnel, and reasonable prices.

With the availability of health care plans across the country and a wide range of health coverage choices, BCBS is among the most trusted and reliable health insurance companies on the market. Many small businesses use Blue Cross Blue Shield for group health insurance plans. In fact, BCBS companies insure 6.8 million people who work for small businesses. 

eHealth offers small business health insurance plans from many of the top health insurance companies, including Blue Cross Blue Shield. As a result, you can provide your employees a comprehensive and affordable health insurance plan from a leading provider. 

Is Anthem Health the Same as BCBS?

Many health insurance providers have the terms “Blue Cross” or “Shield” in their names, so you may wonder whether they’re related. The answer is yes. Many entities with BCBS-variant names are affiliates of the Blue Cross and Blue Shield organization as licensees. 

But what about Anthem Health? Anthem is part of the BCBS association of health insurance companies. However, it is slightly different because BCBS is a subsidiary of Anthem Inc. Anthem is also a seller of health insurance policies, functioning in the capacity of licensee.

And to make things a little more complicated for some, Anthem Inc. changed its name to Elevance Health on June 28, 2022. Anthem, or what is now Elevance, is the second largest in the country in terms of membership and annual revenue. Many of its business features and policies are similar to other BCBS companies. However, Elevance is different in that it is not available in every state. This insurance is more likely to be found in populated states like California and New York, although it is available in about a dozen more states.

How Do Health Insurance Plans for Small Businesses Differ From Coverage for Larger Companies?

Government websites offer helpful tips on selecting the best health insurance for companies, (especially regarding company size), how to contact them, and what to look for. They also discuss the Small Business Health Options Program (SHOP) and the Affordable Care Act (ACA).

In general, small business owners will typically look for group or company insurance plans in which the premiums are split between them and their employees. The costs of a group plan are paid at a discount rate due to the reduction of financial risk and come with tax benefits. However, only group members can purchase these policies, although they can extend their coverage to relatives and dependents for additional fees.

Larger companies tend to receive better deals on health insurance policies because they have more employees to participate in their policies and greater buying power. Estimates from the majority of U.S. states indicate that small companies pay more for health insurance by as much as 18%. However, according to the National Conference of State Legislatures (NCL), the situation has improved over the past decade due to state and federal laws requiring medical insurance companies to accept smaller entities seeking coverage.

Another big break for small businesses occurred in 2014 with the introduction of SHOP exchanges. These state-run health programs pool or CO-OP insurance purchases, making them more prominent so that they can receive competitive company rates. 

Use eHealth for Your Small Business BCBS Health Insurance Needs

If you’re considering health insurance for your employees, BCBS small business plans are a great option. Small businesses that offer salaries and healthcare benefits are some of the most attractive employers. Besides improving job satisfaction and a productive work environment, health benefits may also boost employee retention.

eHealth makes it easy to shop for small business plans available from some of the best health insurance companies, allowing you to easily compare group plans in one place. 

Shopping for group health insurance plans through eHealth’s marketplace gives you the advantages of:

• Customized Group Health Quotes – With eHealth, you can find the best selection of personalized quotes for your company based on your budget and coverage preferences.
• Useful Group Plan Comparisons – You can compare a variety of options for group plan rates and benefits by choosing from multiple leading, brand-name health insurance companies.
• World-Class Customer Service – eHealth’s licensed agents can help answer your questions, give unbiased advice, and provide ongoing support after you purchase your group health plan.

eHealth’s website and representatives can help you find small business health insurance from Blue Cross Blue Shield and other top health insurance companies. Visit eHealth today to see if BCBS group health insurance coverage is available in your area.