Blue Cross Blue Shield of Massachusetts

BCBSMA formed in 1988 after the merger of Blue Cross and Blue Shield of Massachusetts. In 1992 it offered an HMO plan along with the rise of managed care in the 1990s.

BCBSMA has non-profit status as a health insurer and has 2.8 million policyholders, the largest number of any insurer in Massachusetts, with most policyholders insured through employers. The number of policyholders dropped slightly between the first and second quarters of 2011, due to the economy and layoffs.

The organization's compensation for its departing CEO, Cleve Killingsworth, totaled $8.6 million in 2010. When this was reported in 2011, public anger and a four-month investigation from the Massachusetts Attorney General followed. BCBSMA ultimately credited $4.2 million, representing Killingsworth's severance, off policyholders' premiums (~$3 per policyholder).

On January 20, 2022, the company announced that CEO Andrew Dreyfus will resign from his position after 12 years on the job.

In March 2018, Blue Cross Blue Shield of Massachusetts announced a six-year marketing deal with the local municipal owned bikeshare system then known as Hubway to re-brand under the name Bluebikes. Along with the change in name, the system expanded with more bikes and branded stations. In 2023 the sponsorship was extended through 2031, along with the introduction of electric bikes.