Your New Scoop Site
Welcome to Scoop!
To help you figure things out, there is a Scoop Admin Guide which can hopefully answer most of your questions.
For support, questions, and general help with Scoop, email firstname.lastname@example.org
ScoopHost.com is currently running Scoop version Undeterminable from .
Tag: A Tax That Wasn't
Michigan's Blue Cross Blue Shield subscribers have been paying it forward for a long time.
Recall a few years ago, Michigan AG Mike Cox slapped down the blues for a strange bust out into the for-profit insurance market. At the time, Cox said:
"Blue Cross has built a huge surplus with the help of state tax breaks and rapidly rising insurance premiums. They should be cutting health costs for Michigan families instead of diving deeper into the for-profit insurance industry."Indeed.
Since that slap down, I have frequently imagined how the blues could be dis-assembled. Not at all that I wanted to, but asking the question of HOW such a structured insurer of last resort might be dissolved at some point. And to be sure, given THAT situation, there ought to have been others inside and out of government who might have wondered as well. Had it not been for AG Cox wagging the I-don't-think-so finger, a strange funneling of money to other 'for-profit' entities might have happened, costing rate payers dearly. "Who might have been the recipients and concurrent stockholders in such an arrangement that hides cash flow from non-profit reporting requirements?" could have been the question at hand.
But no worries, right? That big pile of money has been maintained, and leveraging high rates have made it easier for the blues to make sure it stayed available. The blues have in fact have continued to hold on to a $3 billion cash reserve and by raising those rates to keep it there, it rewards those past premium payers with the knowledge that they have solved the next hole in the Michigan state budget. Or even better, have given the governor a new potential slush fund.
(2 comments, 572 words in story) Full Story
External FeedsMetro/State News RSS from The Detroit News
+ Craig: Cushingberry tried twice to elude police, was given preferential treatment
+ Detroit police arrest man suspected of burning women with blowtorch
+ Fouts rips video as 'scurrilous,' defends Chicago trip with secretary
+ Wind, winter weather hammer state from Mackinac Bridge to southeast Mich.
+ Detroit Cass Tech QB Campbell expected to be released from custody Friday
+ New water rates range from -16% to +14%; see change by community
+ Detroit's bankruptcy gets controversial turn in new Honda ad
+ Royal Oak Twp., Highland Park in financial emergency, review panels find
+ Grosse Ile Twp. leads list of Michigan's 10 safest cities
+ Wayne Co. sex crimes backlog grows after funding feud idles Internet Crime Unit
+ Judge upholds 41-60 year sentence of man guilty in Detroit firefighter's death
+ Detroit man robbed, shot in alley on west side
+ Fire at Detroit motel forces evacuation of guests
+ Survivors recount Syrian war toll at Bloomfield Hills event
+ Blacks slain in Michigan at 3rd-highest rate in US
Politics RSS from The Detroit News
+ Apologetic Agema admits errors but won't resign
+ Snyder: Reform 'dumb' rules to allow more immigrants to work in Detroit
+ GOP leaders shorten presidential nominating season
+ Dems: Another 12,600 Michiganians lose extended jobless benefits
+ Mike Huckabee's comments on birth control gift for Dems
+ Granholm to co-chair pro-Clinton PAC for president
+ Republican panel approves tougher penalties for unauthorized early primary states
+ Michigan seeks visas to lure immigrants to Detroit
+ Peters raises $1M-plus for third straight quarter in Senate bid
+ Bill would let lawyers opt out of Michigan state bar
+ Michigan lawmakers launch more bills against sex trade
+ Balanced budget amendment initiative gets a jumpstart
+ Feds subpoena Christie's campaign, GOP
+ Poll: At Obama's 5-year point, few see a turnaround
+ Obama to release 2015 budget March 4
Sunday January 19th
Saturday January 18th
Friday January 17th
Thursday January 16th