Hundreds of Illinois insurance jobs will soon be lost as one company begins making cuts.
Health Care Service Corporation, the Chicago-based company that runs Blue Cross and Blue Shield of Illinois, recently announced its plan to eliminate 650 jobs throughout the state. The cuts are being made because of the economic recession, which has caused the company’s employer customers to reduce workers, and a demand from Congress and President Barack Obama to reduce administrative costs.
Health Care Service Corporation, which operates Blue Cross and Blue Shield plans in Illinois, New Mexico, Oklahoma and Texas, is planning to reduce its total workforce by about 4 percent. According to an article by the Chicago Tribune, jobs will be eliminated by Q1 of next year.