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CEO, Chet BurrellCEO Chet Burrell Recognized as 100 Most Powerful D.C. Business Leaders

Washington, DC (December 5, 2012) - The Washington Business Journal recently recognized CareFirst President and CEO Chet Burrell as one of the 100 most powerful business leaders in the Washington, D.C., area. The honor was a part of the newspaper’s Power 100, in which influential D.C. business leaders were profiled for their work in the local business community. Here is what the Washington Business Journal said about CareFirst’s top executive:

Health insurance companies in 2012 stand at the center of a massive storm of regulatory and commercial upheaval, and Chet Burrell is in charge of making sure CareFirst BlueCross BlueShield stays on track amid the storm. As the leader of the Mid-Atlantic's largest -- and only locally controlled -- major medical insurer, Burrell must hold onto market share while making sure CareFirst's interests are protected as reform plays out in Maryland, the District and at the federal level. Consider: Maryland and the feds are rewriting its hospital payment rules, while the District is building an entirely new insurance market from scratch. But Burrell sees his job as bigger than narrowly protecting CareFirst. By virtue of CareFirst's sheer size, he knows its own success in holding down medical costs equates with the regional economy’s success in holding down costs. Oh, and he needs to make sure CareFirst's operating margin stays in that narrow band between losses and triggering new federal penalties for excessive profits.

View the complete list of the Washington Business Journal’s Power 100.

About CareFirst
In its 75th year of service, CareFirst, an independent licensee of the Blue Cross and Blue Shield Association, is a not-for-profit health care company which, through its affiliates and subsidiaries, offers a comprehensive portfolio of health insurance products and administrative services to 3.4 million individuals and groups in Maryland, the District of Columbia and Northern Virginia. In 2011, CareFirst contributed $51 million to community programs designed to increase the accessibility, affordability, safety and quality of health care throughout its market areas. To learn more about CareFirst BlueCross BlueShield, visit our web site at www.carefirst.com or follow us on Twitter: http://twitter.com/CareFirst_News.

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