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                            -- Leading New Jersey Companies:

​                               Horizon Blue Cross Blue Shield of New Jersey

*  Automatic Data Processing  * Becton Dickinson *  Bed, Bath & Beyond  *  Chubb
*   Church & Dwight  *  Cognizant Technologies *  Dun & Bradstreet  *  Goya   
*  Honeywell International *  Horizon Blue Cross   *  IDT  *  Hackensack Meridian 
*  Hovnanian     *  Investors Bank  ​ * Johnson & Johnson  *  Mars  *  Merck
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*  Quest *  Quick Chek  *  RWJBarnabas  *  PSEG  *  TD Bank *  Toys 'R' Us    
*  Valley National Bank   *  Wakefern Food

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Horizon Blue Cross Blue Shield of New Jersey

​Headquarters: Newark

​Web Site: www.horizonblue.com
Twitter: @HorizonBCBSNJ
Facebook: HorizonBCBSNJ

Financial reports
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Employment

Robert A. Marino
Chairman, President & CEO

Formal legal name Horizon Healthcare Services, Inc., does business as Horizon Blue Cross Blue Shield of New Jersey> Former Blue Cross Blue Shield of NJ, changed name September 1998> Established in 1932 as Associated Hospitals of Essex County, NJ Blue Cross began service in 1933 to meet needs for affordable, accessible health care, first multi-hospital pre-payment system in country, in 1942 NJ Blue Shield established by NJ Medical Society as Medical Service Administration to cover medical and surgical services> Successfully opposed Governor Christie proposal to divert $300 million of $2.4 billion of BCBS reserve funds for opioid treatment programs which led to July 2017 three-day state government shutdown in impasse over approval of new state budget, Christie agreed to compromise which placed limits on level of BCBS reserves but did not divert any funds and added two members to its board appointed by heads of Senate and Assembly>  NJ Blue Cross introduced first health maintenance organization in NJ in 1973, Blue Cross and Blue Shield merged in 1986> Faced potential loss of its license from national Blue Cross Association resulting from series of substantial deficits peaking at $288 million in 1988, avoided insolvency by obtaining series of rate increases by State government to reduce deficit, reported profits for calendar years since 1991> Until 1992, BCBSNJ served as NJ's 'insurer of last resort' in individual market providing health care coverage for anyone regardless of medical condition, legislation enacted in 1992 to reform individual health coverage market, requiring all health coverage carriers in NJ to share in individual market> Blue Cross subsequently shifted to promote managed care, negotiated fee agreements with NJ acute care hospitals agreeing to provide service for new HMO coverage plans> Headquarters in Newark, South Jersey headquarters in Mount Laurel, 5,500 employees, 3.8 million member insureds, 235,000 of whom purchase own insurance, controls 55% of NJ individual insurance market> Obtained legislative approval  2001 to restructure itself as for-profit publicly-held company with all value estimated at some $1 billion to be transferred to new independent charitable health care trust as condition of conversion, legislation followed adverse 1997 court decision  holding that its  status as charity required assets to be given to charitable foundation> Announced 2003 decision not to pursue previous plan to restructure itself as for-profit due to complex legal, fiscal barriers, created  charitable foundation with $10 million in assets effective January 2004--The Horizon Foundation for NJ—to promote health, well-being and quality of life in NJ communities> Proposed merger with Anthem, Inc., one of largest Blue Cross and Blue Shield plans in US, cancelled 1997 as result of court decisions, earlier questions over Blue Cross legal status>  Robert Marino named president and CEO 2011, began career with Blue Shield of NJ in 1971, holds B.A. from Rutgers. 

​*  Health insurer considers leaving N.J. market as Obamacare premiums set to rise in 2018, 8/14/2017, NorthJersey.com 
​*  NJ shutdown: Christie plan to grab Horizon money flops, 7/5/2017, Asbury Park Press