Caring for Colorado Foundation Established with $155 Million from Anthem Inc.

Strategic Insights -

The state of Colorado welcomed its newest charitable foundation, Caring for Colorado, with a mock six-foot check for $155 million courtesy of Indianapolis-based Anthem Inc. The ceremony marked the end of an era for Blue Cross Blue Shield of Colorado, the oldest health insurer in the state, which was acquired by Anthem last week. The foundation, established to serve the health care needs of Coloradans, will operate as the sixth-largest headquartered in the state.

Key Takeaways:

  • The Caring for Colorado foundation was established with a $155 million donation from Anthem Inc. following the acquisition of Blue Cross Blue Shield of Colorado.
  • The foundation's board will hold public meetings across the state beginning in January to gather input on priority health care needs.
  • Foundation officials will review data collected by other foundations and determine priorities before awarding grants within the next 18 months.
  • The board will consist of undisclosed members who have been meeting since the beginning of the year.
  • Gov. Bill Owens attended the ceremony, marking the transition of public to private asset ownership.
  • The foundation's headquarters is located at 700 Broadway, the former location of Blue Cross Blue Shield of Colorado.
  • Caring for Colorado President Brian Cunningham commented, "The bottom line is we've got the money now and we're going to move forward."
  • The foundation aims to improve public health in Colorado through grants and community initiatives.

Statistics:

  • The Caring for Colorado foundation was established with a $155 million donation.
  • The foundation will begin awarding grants within the next 18 months.
  • The board will hold public meetings across the state beginning in January.
  • The foundation will review data collected by other foundations to determine priorities.

Sources:

  • "Caring for Colorado, a new charitable foundation, was established with a $155 million donation from Anthem Inc. following the acquisition of the Blue Cross Blue Shield of Colorado."
  • "Indianapolis-based Anthem Inc. closed on the purchase of Colorado's oldest health insurer, Blue Cross Blue Shield of Colorado."