Tag Archives: blue shield CA

It’s Official, Hell Has Frozen Over

Do you feel a draft?

Are you feeling a little chilly right now? Look around–do you see icebergs?  Are baby harp seals collecting around your feet?  If not, they should be, because Hell has clearly frozen over:  a major U.S. health insurer has decided to give a bunch of money back to its beneficiaries as a result of “excess profits.”

No seriously, I swear it’s true.  Blue Shield of California, one of my State’s largest health insurers covering over 3 million people, has just announced that it will return $295 million in “excess profits” to its policy holders, resulting in a more than 50% credit on the December 2011 health premium bill for all insured policy holders and about 18% for others.  This is, by the way, in addition to a $180 million dollar rebate Blue Shield of CA gave to their policyholders last month to make up for “excess profits” in 2010.  See an article about this HERE.

Montgomery Burns, CEO, Springfield Nuclear Power Plant

This is a pretty stunning development, as people generally think that health insurance companies would refund profits only immediately after the Simpson’s Montgomery

(read the rest)
Posted in Healthcare, Healthcare Policy, Healthcare Reform, Uncategorized | Tagged , , , , , | 1 Comment