GuideWell, the parent company of health insurer Florida Blue, is laying off about 3% of its total workforce, a spokesperson for GuideWell said Monday.
The workforce reduction is part of the company’s efforts to streamline operations and address regulatory challenges and rising healthcare costs, the spokesperson said in an email.
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The company is not providing a specific number of people affected by the layoffs, but the spokesperson said the cuts are impacting employees across 29 states.
“GuideWell is committed to providing access to quality healthcare as affordably as possible for its customers, and to adapting to changing market conditions as part of our continuous focus on operational effectiveness and efficiency,” the spokesperson said.
Florida Blue sells Medicare plans, exchange plans and employer insurance to more than 6 million members and employs more than 9,000 people, according to the insurer’s website.
GuideWell also operates health insurer Triple-S Management in Puerto Rico, primary and urgent care company GuideWell Health, administrative services company GuideWell Source and employer plan administrator WebTPA.
Blue Cross and Blue Shield insurers have faced increasingly challenging market conditions as they vie for business and compete with large publicly traded health insurers.
Blue Cross Blue Shield of Michigan said this month it is offering buyouts to employees as it aims to cut $600 million in administrative costs across several years. Blue Shield of California also announced this month it is undergoing a corporate restructuring, similar to moves taken by Blue Cross and Blue Shield of North Carolina and Horizon Blue Cross of New Jersey in recent years. Blue Shield of California also cut jobs last year.
