I couldn't resist posting this information regarding Blue Cross and Blue Shield "NOT FOR PROFIT" health insurance companies. This is my first post since March 23 when President Obama signed the health care reform bill.
BCBS Plans Increased $4.5 Billion Since 2001:
An analysis by Consumers Union found that non-profit
Blue Cross Blue Shield (BCBS) health plans have collected billions in
surplus over the past decade while raising health care premiums. The report
notes that BCBS plans in 10 states (Alabama, Arizona, Massachusetts,
Michigan, New York, North Carolina, Oregon, Pennsylvania, Tennessee, and
Wyoming) held a collective $9.1 billion in surplus funds in 2009, or $855
per-member per-year. In 2001, those plans held $4.6 billion collectively, or
$395 per-member per-year. The report offers policy recommendations to
control and reduce insurer surpluses, including advising states to implement
minimum and maximum surplus ranges and forcing insurers to spend excessive
funds on state-prescribed expenses (Kaiser Health News, 7/22).
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