"No experiment can be more interesting than that we are now trying, and which we trust will end in establishing the fact, that man may be governed by reason and truth. Our first object should therefore be, to leave open to him all the avenues to truth. The most effectual hitherto found, is the freedom of the press. It is, therefore, the first shut up by those who fear the investigation of their actions." --Thomas Jefferson to John Tyler, 1804.

Surplus, in some places

From a release out today from Washington Insurance Commissioner Mike Kriedler:

With two of the state’s largest health insurers sitting on surpluses totaling $2.2 billion, Washington’s top insurance regulator wants to use some of that money to lower costs for consumers.
According to the companies’ most recent financial statements, Regence BlueShield’s surplus has grown to $1.05 billion. Premera Blue Cross’ surplus is $1.15 billion.
“These are non-profit companies,” said Insurance Commissioner Mike Kreidler. “It’s hard to square their billion-dollar surpluses with the fact that families are struggling to afford health insurance.”
Kreidler is proposing legislation that would allow his office to consider surpluses when reviewing nonprofit health insurers’ proposed rates. As things stand now, his staff must ignore them.
“As I’ve said before, it’s like trying to ignore an elephant in the room,” Kreidler said. “And the elephant’s getting bigger.”
The surpluses of both Regence and Premera have more than doubled in a decade. In the first nine months of 2012, Regence’s grew by $60 million. Premera’s grew by nearly $182 million.
“It’s important to remember that these are not reserves, which are set aside to pay future claims,” Kreidler said. “These billion-dollar surpluses are in addition to their reserves.”

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