News Summary
Blue Cross & Blue Shield of Rhode Island (BCBSRI) and Hasbro Inc. have been named among the 50 most community-minded companies in America. This recognition highlights their commitment to social responsibility and community engagement. Despite significant challenges in healthcare costs and workforce reductions, BCBSRI is striving to maintain its position as a trusted health insurer while expanding services and improving access to mental health care for Rhode Islanders.
Providence, RI – Blue Cross & Blue Shield of Rhode Island (BCBSRI) and Hasbro Inc. have achieved recognition as two of the 50 most community-minded companies in America, according to Points of Light, a global organization focused on volunteerism. This honor identifies top companies that demonstrate a commitment to social responsibility and community engagement.
Among the accolades received, BCBSRI has been designated as a 2025 honoree of the Civic 50, which specifically highlights national organizations that prioritize community involvement and make significant contributions to local initiatives.
While the recognition underscores the company’s commitment to the community, Rhode Island’s healthcare landscape continues to grapple with significant issues that impact both patients and healthcare providers. Recent data reveals that BCBSRI members face a 14% increase in pharmacy costs for 2024, along with a reported over 10% rise in outpatient care costs in the previous year. As these costs escalate, BCBSRI has announced a 3% reduction in its workforce, affecting around 30 employees, in an effort to address financial strains.
In light of the rising expenses, BCBSRI is implementing a series of cost-cutting measures aimed at decreasing administrative costs, which include consolidating vendor contracts. These adjustments are anticipated to yield annual savings of approximately $20 million in administrative expenses. Furthermore, the McKee administration approved a significant rate increase for BCBSRI and other health insurers in September 2024, aimed at alleviating financial pressures.
Despite these challenges, BCBSRI is working to enhance its financial stability in order to maintain its position as the most trusted health insurer in the state. In addition to cost reductions, BCBSRI has made strides in expanding its services. They have begun to cover less intensive behavioral health treatment for children following hospitalization. BCBSRI has also partnered with Bradley Hospital to improve the accessibility of behavioral health services for Rhode Islanders.
Committed to increasing access to mental health services, BCBSRI has removed prior authorization requirements for mental health and substance use treatment since 2018. Such measures have proven effective in enhancing patient access to essential care. Additionally, BCBSRI has developed innovative reimbursement models that support non-clinical providers in treating obsessive-compulsive disorder (OCD) in children, ensuring a broader spectrum of care.
In a further initiative to bolster community health, BCBSRI provides funding for the training of community providers, enabling them to adapt treatments specifically for neurodiverse children and youth. These training programs come with a $100 hourly stipend for providers who participate, incentivizing professional development in behavioral health care.
BCBSRI continues adapting its strategies to improve overall community well-being, tackling issues related to childhood anxiety and enhancing the efficiency of its care delivery. These efforts not only address immediate healthcare needs but also reflect BCBSRI’s ongoing commitment to its mission of providing quality health services to the people of Rhode Island.
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Additional Resources
- Providence Business News: Blue Cross of RI & Hasbro Named to 2025 Civic 50 List
- GoLocalProv: New Blue Cross Blue Shield of RI Posts $115M Loss, Announces Layoffs
- Rhode Island Current: New Insurer Rules Will Boost Primary Care in RI by Millions of Dollars
- WPRI: Fatally Flawed RI Insurance Giants Blue Cross, Tufts Protest $1.5B Medicaid Contract
- GoLocalProv: Company Helping America’s Biggest Health Insurers Deny Coverage for Care
- Wikipedia: Health insurance in the United States
- Google Search: healthcare costs Rhode Island
- Google Scholar: behavioral health care
- Encyclopedia Britannica: health care
- Google News: Rhode Island healthcare
