Does Blue Cross Blue Shield Have Too Much in Reserves?

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According to the Chronicle of Philanthropy and the Houston Chronicle, Blue Cross and Blue Shield of Texas, whose parent is Health Care Service Corp. (HCSC), obtained approval for raising their insurance rates by 20% despite maintaining approximately a $9.9 billion dollar reserve fund, HCSC awarding their CEO a $10 million bonus and HCSC have a net loss of $282 million during the year of 2014. These articles make an implication that Blue Cross and Blue Shield of Texas is operating as a for profit entity and gouging those who are insured by them to pay their officers and employees that …read more

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