Blue Cross objects to SEANC ad

Submitted by ryanteaguebeckwith on March 31, 2009 - 9:11am.
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How much profit did Blue Cross make?

Lew Borman, a spokesman for Blue Cross Blue Shield, says a recent radio ad from the State Employees Association of North Carolina gets the figure wrong. 

The ad claims that Blue Cross made $180 million running the State Health Plan.

Borman said that figure is "totally incorrect."

He said the profit margin on the administrative-services-only contract is .625 percent, or $478,000 last year.

Borman called the ad "a gross mischaracterization" of Blue Cross' role and profits and said it took a "cheap shot" at the company's executives.

"They miss the point," he wrote in an e-mail to Dome. "The real issue is the (State Health Plan's) inability to forecast and pay the growing medical costs."

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Policy holder objects to Blue Cross contract secrecy

Submitted by jemphd on March 31, 2009 - 7:24pm.

So, let's see - perhaps $180M - 65M salaries, - 45M incentives, - 20M capital improvements,- 19.5M advertising -30M debt service = $500,000. BX/BS - disprove those figures by opening your contract and books.

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Re: Blue Cross objects to SEANC ad

Submitted by aftercancer on March 31, 2009 - 1:14pm.

Wow, I feel so badly for Blue Cross Blue Shield that I've almost forgotten that they are robbing the state blind and will not be increasing my premiums again. Maybe NOT!

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