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February 21, 2021 / 2021 Power 50

2021 Power 50: 35. Eric Galvin & Lou Gianquinto

Eric Galvin

Coming home to the state to lead major insurers is something both ConnectiCare CEO Eric Galvin and Anthem Blue Cross and Blue Shield of Connecticut President Lou Gianquinto have in common. Now they both share the responsibility of leading their businesses through uncertain times.

Lou Gianquinto

At ConnectiCare, Galvin acted quickly when the pandemic hit to ensure his company could manage and expand telemedicine coverage and “check in” with customers via telephone to make sure their needs were being met. He also mobilized resources to make sure that the insurer’s 700 employees could quickly shift to remote work.

Solving problems fast is Galvin’s forte: As ConnectiCare CFO in 2017 he helped the company resolve a financial crisis that wiped out a decade’s worth of profits. ConnectiCare is the state’s largest HMO and covers almost 80% of those who buy insurance from Access Health CT, the state’s health insurance exchange.

Challenges ahead for ConnectiCare include pandemic-related losses plus a rebound in claims from care delayed due to the pandemic. The insurer’s revenues could also suffer if state Democrats push ahead with plans to set up “public option,” government-run health insurance that competes with both private and Access Health plans.

Gianquinto was recently appointed president of Anthem’s Connecticut business, which is the largest health plan in the state.

He has big shoes to fill as he replaces Jill Hummel, a well-respected insurance executive who spent seven years in the same role.

Eric Galvin

Most recently Gianquinto served as president of Missouri Care, Anthem’s Medicaid business in Missouri, which he said gained him experience in managing profits and losses and prepared him for his new job in Connecticut. As he works to protect Anthem’s wide market share lead in the state, he said one of his top priorities is to advance more value-based contracts with providers that pay doctors and hospitals more based on performance rather than a fee-for-service model.

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