Blue Cross Bond to Help Underserved Areas

Blue Cross of California has launched a bond-financing program to provide smaller health facilities more access to capital. The program, part of the company’s $200 million Investment in a Healthy California, looks to boost health care deliver in lower income and underserved parts of the state. As part of the program, companies under the Blue Cross, WellPoint and Anthem Inc. nameplates direct a portion of their investment portfolios over a 20-year period to underserved areas. So far, $135 million has been invested. The program will help small health providers finance projects through financing options commonly used by larger healthcare companies, and at interest rates lower than conventional loans.