Steve Udvarhelyi, CEO of Blue Cross, to retire; successor announced | Business Update

Blue Cross and Blue Shield of Louisiana CEO Dr. Steve Udvarhelyi has announced his retirement after more than eight years at the helm of the company. This comes after the controversial and ultimately unsuccessful attempt to sell the nonprofit to Elevance Health. Executive Vice President and Chief Operating Officer Bryan Camerlinck has been chosen to succeed Udvarhelyi and will take over immediately.

The decision to retire follows the shelving of the proposed sale to Elevance, which faced opposition from doctors, hospitals, policyholders, and state lawmakers. Despite Udvarhelyi’s efforts to convince stakeholders of the benefits of the deal, concerns about regulatory issues and political influence led to the deal being tabled.

During his tenure, Udvarhelyi helped turn around the company’s financial situation, increasing reserves by 38% to $1.65 billion in 2022. He also diversified Blue Cross offerings into government-sponsored plans like Medicare and Medicaid. However, the company’s traditional employer-sponsored health plans saw a decline as customers sought ways to save on healthcare costs.

Camerlinck, who joined Blue Cross in 2016 and was promoted to COO in 2021, brings over 20 years of experience in the industry. He expressed his commitment to continuing the company’s mission of providing top-tier service to its members.

The retirement of Udvarhelyi marks a new chapter for Blue Cross and Blue Shield of Louisiana, as Camerlinck takes on the role of leading the company through the evolving healthcare landscape. The transition comes at a critical time for the organization as it navigates challenges and opportunities in the industry.