SF New Mexican: Despite healthy cash reserve, Blue Cross Blue Shield wants steep premium increase.
“Blue Cross Blue Shield of New Mexico, a division of the not-for-profit Health Care Services Corp., says the individual health insurance market has lost money: $20 million in the last three years in New Mexico; $11.1 million last year alone. But Sondra Roberto, a Consumers Union staff attorney, says Health Care Services Corp. had a $6.7 billion surplus in December, well over the amount required to keep the company solvent and retain its strong financial rating.” BCBS wants to sock us with a 20+% increase in October.
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