Insurance Commissioner Mike Kreidler says he’s troubled by the appearance that Premera Blue Cross is subsidizing its Arizona health plan at the expense of policyholders in Washington.
The Washington-based nonprofit transferred $49 million to an Arizona for-profit subsidiary between 2004 and 2007.
The president of Premera’s LifeWise Washington, Jeffrey Roe, says money was used to grow the company in Arizona, but he says claims of market manipulation are false.
Kreidler is asking state lawmakers to give him more oversight over individual health insurance policies.
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Information from: Seattle Post-Intelligencer,
http://www.seattle-pi.com/
Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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