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Press Release

Alan Krigstein Appointed Chief Financial Officer of Independence Blue Cross

Philadelphia, PA - May 21, 2009 - Independence Blue Cross recently announced the appointment of Alan Krigstein as senior vice president and chief financial officer.

In his new role, Krigstein is responsible for the financial functions of the leading health plan in southeastern Pennsylvania and reports to Joseph A. Frick, the organization's president and CEO. Krigstein succeeds John Foos, who retired in November 2008.

"We are fortunate to have added a seasoned financial expert and health insurance veteran to our leadership team," said Frick. "Alan understands the challenges we face to improve access to affordable quality health care and he knows how critically important it is to be innovative, responsive, and fiscally prudent so that we do our part to help rein in health insurance costs for our customers." 

Krigstein has more than 35 years experience in the insurance and health care industries. Most recently, he was senior vice president of finance, chief financial officer, and treasurer at AmeriHealth Mercy Family of Companies, the largest organization of Medicaid managed care plans in the nation, where he had executive oversight of the corporate financial functions and financial oversight of new business development. AmeriHealth Mercy is a partially owned affiliate of Independence Blue Cross.

Krigstein served on the board of CBHNP, a behavioral health company wholly owned by AmeriHealth Mercy, and currently serves on the Board and Finance Committee of Medicaid Health Plans of America (MHPA), a leading trade association of Medicaid health plans.

Krigstein earned a Bachelor of Science degree in accounting from the University of Delaware. He received MHPA's Joy Wheeler Leadership Award in 2008, and was previously nominated for CFO magazine's CFO Excellence Award. Krigstein resides in Chadds Ford, Pennsylvania.

About Independence Blue Cross

Independence Blue Cross is a leading health insurer in southeastern Pennsylvania. Nationwide, Independence Blue Cross and its affiliates provide coverage to nearly 3.4 million people. For more than 70 years, Independence Blue Cross has offered high-quality health care coverage tailored to meet the changing needs of members, employers, and health care professionals. Independence Blue Cross's HMO and PPO health care plans have consistently received the highest ratings from the National Committee for Quality Assurance.

Independence Blue Cross is an independent licensee of the Blue Cross and Blue Shield Association.