RICHARDSON, Texas — Baylor Scott and White Health and Blue Cross Blue Shield of Texas have reach an agreement for a three-month contract extension after some fear the agreement could end.
The new extension will expire on Oct. 1 this year. This gives both sides additional time to finalize a longer agreement.
"Baylor Scott & White and Blue Cross and Blue Shield of Texas share a commitment to the health and well-being of the patients and members we serve," a joint statement from the two companies reads.
Baylor Scott and White is the largest nonprofit health system in the state with 51 hospitals. Blue Cross Blue Shield is far and away the largest insurer in the state with nearly 25% of the market share. The next largest insurer, UnitedHealthcare Insurance Company, has about 10% of the market share, according to the Texas Department of Insurance.
Contentious contract negotiations between Blue Cross Blue Shield's state-level entities and various regional hospital networks have repeatedly jeopardized coverage for many across the country.
Specifically, the negotiations center around a disparity between the increased, post-pandemic reimbursement rates Baylor Scott and White is requesting and the amount that Blue Cross Blue Shield of Texas is willing to agree upon.