Criticism and Controversy
The Seattle Times published an article on February 9, 2012, alleging non-profit insurance outfits, including Premera Blue Cross, Regence BlueShield and Group Health Cooperative, are stockpiling billions of dollars in reserves while increasing their rates at the same time. Insurance companies do have statutory reserve requirements set by the states in which they operate, but the Seattle Times article cites Washington state insurance Commissioner Mike Kreidler arguing that these companies have in excess of $1 billion more than needed to cover claims and disaster contingencies.
Read more about this topic: Blue Cross Blue Shield Association
Famous quotes containing the words criticism and/or controversy:
“People try so hard to believe in leaders now, pitifully hard. But we no sooner get a popular reformer or politician or soldier or writer or philosopher—a Roosevelt, a Tolstoy, a Wood, a Shaw, a Nietzsche, than the cross-currents of criticism wash him away. My Lord, no man can stand prominence these days. It’s the surest path to obscurity. People get sick of hearing the same name over and over.”
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