Blue Cross Blue Shield of Michigan is continuing to push to get new legislation passed in Michigan that would soften up oversight by the state's attorney general--who supervises rate increases--and would force competing health plans to swallow some of its losses. What's more, the health plan wants permission to make more money with its for-profit subsidiary, the Accident Fund, by taking steps such as expanding its product offerings.
The Blue plan's executives are claiming that they are in dire financial straits and they need the changes passed to get back on solid financial footing. Blue Cross is projecting losses of nearly $264 million on individual health insurance plans; it is the state's insurer of last resort for individuals who are not employed and are not covered by the government.
Meanwhile, Attorney General Michael Cox has made no secret that he doesn't like the non-profit. In fact, he sued them earlier this year. Now he's asking the state legislature to not try to push something through in the last few days of this year's session, but to wait until next year when more considered legislation can be passed.
To learn more about the fight
- read this Chicago Tribune piece