"Blue Cross to help fund training plan" by Jeffrey Krasner, Globe Staff | February 3, 2009
Blue Cross and Blue Shield of Massachusetts said it is donating $250,000 to help five area hospitals train their trustees in how to keep healthcare costs down....
That means DENY YOU COVERAGE!!!
Probably gonna fob 'em off on the state like Wal-Mart did.
The hospitals in the new program are expected to contribute $25,000 apiece to the training effort. They will also hire a consultant to work with senior management and trustees. Blue Cross officials said they hope the program will help control healthcare cost increases by improving the quality of care and reducing unnecessary treatment.
You can start with the cost-cutting consultant!
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Sicko
Maybe they could find some saving HERE!!!
"Blue Cross paring costs in bid to save up to $25m" by Jeffrey Krasner, Globe Staff | February 11, 2009
Blue Cross and Blue Shield of Massachusetts, the state's largest health insurer, said it will eliminate executive bonuses, cut bonuses for other employees, and freeze pay and hiring this year in an effort to save between $10 million and $25 million.
Cleve L. Killingsworth, the company's chief executive, will take the biggest hit - a 50 percent pay cut, the insurer said. Killingsworth earned salary and bonuses of $3.6 million in 2007, the last year for which figures are available. Other senior managers will face compensation reductions of about 30 percent as a result of forfeiting their bonuses.
The moves come in anticipation of a difficult year because of the economic recession. Blue Cross spokesman Jay McQuaide said the company, which has about 3 million members, would see that total shrink this year as more people lose their jobs and company-paid health benefits....
And then the health care corps will dig into the taxpayers wallet via the state!
The insurer also warned that its investment income has suffered. It earned about $100 million from investments in 2007, which accounted for nearly half of its net income. Blue Cross will disclose 2008 compensation and financial results at the end of the month.
Why TF are HEALTH CARE and CAR CORPORATIONS and SCHOOLS all involved in INVESTING, huh? It's enough to make you go Venezuelan!
"The ongoing turmoil in the financial markets will continue to negatively impact our investment income," said Allen Maltz, Blue Cross's chief financial officer, in a statement. "The action we're announcing today is designed to maintain our financial strength and market leading position."
About half of Blue Cross's members are employees of large companies that have their own health insurance plans. Blue Cross essentially runs those plans for the companies and charges a fee that is closely related to its administrative expenses....
But JUST A BIT MORE so they can PROFIT OFF IT!!!
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No wonder HEALTH CARE is SO EXPENSIVE!
The INDUSTRY is LOOTING US ALL!!!!!
