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State Regulators Fine Blue Cross for Canceling Policies
West News • March 26, 2007
State regulators fined California's largest health insurance provider $1 million for violating state law, saying an investigation found that the company systematically dropped policyholders after ...
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| Subject | Posted By | Posted On |
|---|---|---|
| RE: Twenty Two Cents per Person = $1M fine | ken | Mar 30, 2007, 10:37 pm |
| $8M Fine | ken | Mar 30, 2007, 6:06 pm |
| RE: Fine Above $8M coming | terence | Mar 30, 2007, 2:03 pm |
| Fine Above $8M coming | ken | Mar 29, 2007, 7:19 pm |
| Blue Cross | ken | Mar 29, 2007, 6:56 pm |
| IMPROPER rescission--an example | Klapper | Mar 29, 2007, 11:41 am |
| GOOD & SOLID rescission ? | klapper | Mar 29, 2007, 10:40 am |
| Blue Cross fine--will it exceed $2.3 ? | terence | Mar 29, 2007, 10:16 am |
| RE: Blue Cross and the Dept of Insurance. | ken | Mar 29, 2007, 12:46 am |
| Blue Cross and the Dept of Insurance. | Terence | Mar 26, 2007, 10:15 pm |
| RE: Anthem and Blue Cross the Same ? | Terence | Mar 26, 2007, 10:07 pm |
| Anthem and Blue Cross the Same ? | mv | Mar 26, 2007, 3:47 pm |
| Back to article | ||
Subject: $8M Fine
Read:
Blue Cross, Blue Shield, Blue Crominal
by Robert Weissman on 25 July 1998.
Fines of $144M and more by illinois.
They estimated $100 billion these insurance companies make each year on fraud--that was 1998.
Blue Cross is #2 and Health Net #1. In CA Blue Cross has 4,450,469 enrolees. What is $17M fine to them. Nothing. It is one day of lost profit. That is less than 1%---or 1/3 of 1% loss if they get a $17M fine.
Blue Cross just settled a class action suit by 900,000 doctors nationwide for $200M.
These fines are a joke. They do it so they do not have to fight Blue Cross and it is quick income in the bank--but does not solve the problem.
To get the attention of Blue Cross the fines would need to be $500M or more. Clearly they should be as their activities are criminal. That article points out how criminal they are and how our politicians and agencies are afraid of them.
That was back in 1998. Blue Cross is a lot worse now and a lot more powerful with the Anthem Merger.
The only thing that can stop them is for people to cancel their insurance.