C. Mark Warren
Blue Cross-Blue Shield is acting like a for-profit bully”
Their offices on Cameron Hill sit almost empty.
But their bank account is full of cash.
By law, Blue Cross Blue Shield (BCBS) is a non-profit company mandated to maintain $1billion in reserves to pay potential claims in the case of a pandemic.
Not only has BCBS weathered the pandemic, BCBS has profited during the pandemic.
BCBS has over $3 billion in reserves. That is $2 billion more than required by law.