Pros
They have incredibly deep pockets by being owned by Blue Cross Blue Shield of Tennessee. This allows the leadership to make one bad decision after another without risk of going out of business. It's almost impossible to get fired because of the BCBST HR bureaucracy. The combination of these things makes this a great place to hide out and do nothing. They have mostly staffed the company with Onlifers that embrace that culture. Work/life balance is great because the expectations are so low. Many of the employees do not even work 40 hours and even when they are in the office, they spend a fair amount of time surfing YouTube and Facebook. They will overpay you and provide outstanding benefits, so if you can survive in a world of mediocrity, you could probably suffer through it for a while.
Cons
If you have dreams of improving things, building a product that more than 1% of the targeted user base will use, or working with people that will challenge you to be your best, this is not for you. The entire leadership changed 3 times in the past 3 years, because BCBST is incapable of identifying talent. There are strong political forces and cronyism to ensure the status quo. A manager was once quoted as saying "I don't like to hire A players. A team only needs one quarterback." Back-stabbing and blame must be taught in the manager training courses, because it is rampant. The CEO has repeatedly announced to the remaining employees that IT is to blame for all the company's failings, even though IT isn't the group responsible for the complete lack of innovation and copy-cat mentality of the product vision. The latest leadership group has been using propaganda to counter all the negative publicity they are receiving.