It's real. You won't see this on the 10-K, you need to look at the 990s (which tend to be hard to find). Here's Blue Cross Blue Shield Association from 2017: https://projects.propublica.org/nonprofits/organizations/135..., under part 7, independent contractors, you see "HEALTH INTELLIGENCE CO LLC". This is Blue Health Intelligence (as in Blue Cross Blue Shield Intelligence): https://bluehealthintelligence.com/. Their board is made up of a bunch of blue cross execs.

They spent 20+ million with this company, how much do you think the execs on the board get paid? No one knows because they're private/for profit and don't have to publish annoying things like a 990.