Premera Blue Cross and Regence BlueShield each now have surpluses of more than $1 billion, according to their most recent filings for the three months that ended in March. That's more than what the companies are required to set aside in reserves, Insurance Commissioner Mike Kreidler said Monday.
"They're building up a financial cushion for themselves, and it comes at an expense for people," Kreidler said, adding that insurers should use some of that surplus money to reduce rate increases for policyholders. "These aren't reserves, they're financial surpluses."
He noted that the cost of individual health policies in Washington more than doubled between 2005 and 2011.
Polistra was named after the original townsite of Manhattan (the one in Kansas). When I was growing up in Manhattan, I spent a lot of time exploring by foot, bike, and car. I discovered the ruins of an old mill along Wildcat Creek, and decided (inaccurately) that it was the remains of the original site of Polistra. Accurate or not, I've always liked the name, with its echoes of Poland (an under-appreciated friend of freedom) and stars. ==== The title icon is explained here. ==== Switchover: This 2007 entry marks a sharp change in worldview from neocon to pure populist. ===== The long illustrated story of Polistra's Dream is a time-travel fable, attempting to answer the dangerous revision of New Deal history propagated by Amity Shlaes. The Dream has 8 episodes, linked in a chain from the first. This entry explains the Shlaes connection.