Blue Cross Blue Shield of Minnesota

Minnesota insurer flush with cash

Published in Hospital Business Week, May 9th, 2004

Blue Cross and Blue Shield of Minnesota says it has lowered some premium increases for employers after finishing 2003 with financial reserves that were $30 million above a ceiling set by state law.

But the state's largest health insurance company said on April 15, 2004, that premiums still must be priced appropriately to meet expenses. "We feel that is what is required for us to keep the company strong and meet the needs of our members going forward," said Michael Morrow, Blue Cross senior vice president and chief executive of its Blue Plus health maintenance organization.

The insurer also said its financial reserves are above the maximum only...

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Source: Hospital Business Week (2004-05-09)

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