Chicago, Illinois’ Health Care Service, which operates Blue Cross and Blue Shield health insurance plans in Illinois, New Mexico, Oklahoma and Texas, will cut 650 jobs, or about 4% of its workforce.
The layoffs will be complete by Q1 2010.
Health Care Service Corporation, founded in 1936, is a non-investor-owned mutual insurance company. With 13 million members in its health plans, HCSC is the largest non-investor-owned health insurance company in the nation, and the fourth largest health insurer overall.