Navigation Links
Blue Cross Blue Shield of Michigan Responds to Attorney General's Complaint, Says Transaction Was Legal and Fully Authorized
Date:7/2/2008

DETROIT, July 2 /PRNewswire/ -- The Michigan Attorney General announced on July 2 he was filing a lawsuit against Blue Cross Blue Shield of Michigan challenging a capital transaction between BCBSM and Accident Fund.

The Attorney General has taken the position that BCBSM is not authorized by Public Act 350 to do the transaction. We strongly disagree and, in fact, Accident Fund obtained prior regulatory approval for the transaction. BCBSM will be litigating the civil matter in state circuit court.

BCBSM owns and operates subsidiaries, including Accident Fund. Our subsidiaries are a stabilizing influence on BCBSM health insurance rates for our more than 4.6 million members. Our subsidiaries help BCBSM operate on a financial margin of one-tenth of one percent on its health care business. Accident Fund's national growth has returned hundreds of new jobs and economic growth to Michigan. The reason why we are able to subsidize care for seniors, low income children and others in need of access is because of the strength of our subsidiaries.

The transaction was fully disclosed last year when Accident Fund filed a disclosure form with our regulator, the Office of Financial and Insurance Regulation. In addition to the regulatory approval, the Insurance Commissioner recently conveyed to the Michigan Legislature that the transaction was proper. The Attorney General's office also was notified in advance of the transaction last year and no concerns were expressed.


'/>"/>
SOURCE Blue Cross Blue Shield of Michigan
Copyright©2008 PR Newswire.
All rights reserved

Page: 1

Related medicine news :

1. Breast cancer prevention practices vary across Canada
2. S.C. BlueCross Creates Corporate Planning Unit, Promotes Davis to Vice President
3. S.C. BlueCross to Integrate Care Management with Personal Health Record in Real Time
4. BlueCare(R) Family Plan, a HUSKY Health Plan from Anthem Blue Cross and Blue Shield in Connecticut, Raises Awareness, Funds and Diapers for New Haven Diaper Bank
5. Blue Cross Blue Shield of Michigan Corrects News Story about Drug Coverage Announcement
6. Independence Blue Cross Makes Music for Members Ears
7. Hundreds of RNs from Across U.S. and World to Join California Nurses Association/NNOC National Convention
8. Sean P. McLaughlin Joins Red Cross as Chief of Operations Support
9. Harvard Researchers Select S.C. BlueCross for National Honor
10. Highmark Blue Cross Blue Shield Introduces New Health Plan Comparison Tool for Consumers
11. Blue Cross and Blue Shield Initiatives Recognized for Increasing Patient Safety and Efficiency
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/29/2015)... 2015 Dr. Rodger Murphree, author ... Syndrome is now offering free weekly call in ... natural ways to reduce symptoms associated with fibromyalgia ... and brain fog. , To find out ... Fibromyalgia call in teleconferences simply go to ...
(Date:5/29/2015)... May 29, 2015 Healthpointe’s electromyography ... to the Los Angeles County clinics including its ... are now being offered at all Healthpointe locations ... and San Bernardino County. , As the ... send electrical impulses throughout the body and ...
(Date:5/29/2015)... (PRWEB) May 29, 2015 This ... current state of the Naproxen industry.The report provides ... classifications, applications and industry chain structure. The ... international markets including development trends, competitive landscape analysis, ... are discussed as well as manufacturing processes and ...
(Date:5/29/2015)... 29, 2015 The report ... provides comprehensive information on the therapeutic development ... pipelines by identifying new targets and MOAs ... report on H1 2015 pipeline review of ... and 13 figures, spread across 47 pages ...
(Date:5/29/2015)... NEW YORK (PRWEB) May 29, 2015 ... Medical Center has found that a urine test ... cancer with 92 percent accuracy. Dr. James McKiernan ... 2015 Annual Meeting Press Event. , Dr. ... John K. Lattimer Professor and chair of the ...
Breaking Medicine News(10 mins):Health News:Healthpointe Is Now Offering EMG and NCV Diagnostics at All Clinics throughout Southern California. 2Health News:Naproxen Market Analysis For Global & China Regions 2020 Research Forecasts 2Health News:Axillary Hyperhidrosis Therapeutic Assessment Pipeline Review H1 2015 Market Research Report Available at RnRMarketResearch.com 2Health News:Axillary Hyperhidrosis Therapeutic Assessment Pipeline Review H1 2015 Market Research Report Available at RnRMarketResearch.com 3Health News:Urine Test Detects Prostate Cancer with 92 Percent Accuracy, According to Study 2Health News:Urine Test Detects Prostate Cancer with 92 Percent Accuracy, According to Study 3
... researchers use percent of body fat data to assess obesity ... obesity rates between African-American //and white women, for example, is ... a much higher risk of obesity than African-American men. ... of body fat is a more accurate measure of fatness ...
... China today agreed to reconduct lab tests to find out ... in Beijing as early as 2003, after eight of its ... ,The Chinese Ministry of Health said it was conducting new ... , ,"In accordance with World Health Organisation and China's ...
... These findings raise the possibility that heart infection could ... that affect humans and livestock //, and that these ... paper is being published on Friday, July 7 in ... ,Prion diseases-also known as transmissible spongiform encephalopathies because ...
... to a study which was published in the International Journal ... against billiary tract cancer //and reduced the risk of developing ... but are fatal. Bile stones on the other hand are ... that about 10% of the patients who had undergone treatment ...
... at Pahihari village near here has caused a scare among ... ,The local Primary Health Centre (PHC) here today constituted a ... to the diseases, they said., ,At least one member ... from either malaria or jaundice, the officials said., ,Bantaram, ...
... to bring ethnic Singapore foods to the U.S., China, ... new frozen food technology.// ,Local food manufacturer, Terry Tan ... ethnic flavors of Singapore available worldwide. ,Extending ... major challenges towards making Terry Tan’s plans a reality. ...
Cached Medicine News:Health News:Prion Disease Agent Causes Heart Damage 2Health News:Prion Disease Agent Causes Heart Damage 3Health News:Prion Disease Agent Causes Heart Damage 4
(Date:5/28/2015)... HOUSTON , May 28, 2015 /PRNewswire/ - ... reported financial results for the second quarter and three and ... are expressed in Canadian dollars and in accordance with International ... ESSA recorded a net loss of $5.9 million ... 31, 2015 (Q2-2015), compared to a net loss of $0.4 ...
(Date:5/28/2015)... 2015  IRIDEX Corporation (NASDAQ: IRIX ) today announced ... H. Mackaness is scheduled to present at the LD ... PT in Los Angeles . ... on the Event Calendar of the Investors section of IRIDEX,s ... will be available shortly after the conclusion of the presentation ...
(Date:5/28/2015)... 2015 Research and ... of the  "North America Ultrasound Devices Market ... 2019)"  report to their offering.  ... a type of imaging. It uses high-frequency ... and structures inside the body. Health care ...
Breaking Medicine Technology:Essa Pharma Inc. Reports Second Quarter 2015 Financial Results 2Essa Pharma Inc. Reports Second Quarter 2015 Financial Results 3Essa Pharma Inc. Reports Second Quarter 2015 Financial Results 4Essa Pharma Inc. Reports Second Quarter 2015 Financial Results 5North America Ultrasound Devices Market Report 2014-2019 - Technology and Applications 2
... Prolong Pharmaceuticals today announced that industry veteran Glenn Kazo has ... in various capacities with Prolong since 2007. He succeeds Prolong ... "I have known Glenn for more than thirty years," ... Mr. Kazo. "I feel he is one of the greatest ...
... 28 Tigris Pharmaceuticals, Inc., a ... it has completed a private placement of Series ... of approximately $6.5 million.  The financing, which was ... investors Wexford Spectrum Investors, LLC, and Sonostar Capital ...
Cached Medicine Technology:Prolong Pharmaceuticals Names Industry Veteran Glenn Kazo President 2Tigris Pharmaceuticals, Inc. Completes $6.5 Million Private Placement 2Tigris Pharmaceuticals, Inc. Completes $6.5 Million Private Placement 3
... a long-pulsed Nd:YAG laser system with a wavelength ... treat deep-lying, superficial as well as red and ... epilation in patients with darker skin types (1 ... as for general improvement of skin texture. The ...
... brachytherapy source consists of a welded titanium ... onto four resin beads. The capsule ... which serve as x-ray markers to identify ... sources are supplied non-sterile when shipped and ...
... SINON is a Q-switched ruby ... of 694 nm. High Performance ... - This combination of high ... in Q-switched mode effectively destroys ...
A Powerful New Quantitative Immunoassay for Monitoring Bladder Cancer Patients. Useful in Monitoring Patients for,Disease Progression and Recurrence....
Medicine Products: