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Facing Large and Uncontrollable Financial Losses on Individual Policies, Blue Cross Blue Shield of Michigan Will Cut Up to 1000 Jobs in 2009, Reduce Spending and Seek Rate Increases on Individual Plans
Date:1/16/2009

ze on salaries for non-unionized workers -- A request of the United Auto Workers to delay a 3 percent pay increase -- A 25 percent reduction in the company's advertising and lobbying spending -- A 25 percent reduction in discretionary spending -- Cuts to programs funded by BCBSM in local communities across Michigan

"All of our actions are to preserve the financial health and stability of the Michigan Blues," Hetzel said. "They are unfortunate, particularly given the state's economy, but they are the direct and predictable result of a regulatory system that no longer works. Until policy makers reform Michigan's broken individual health market, Blue Cross will do what is necessary as a private business to preserve our financial stability. In 2009, this means raising rates, cutting costs and reducing our investments in local communities."

Blue Cross Blue Shield of Michigan is a nonprofit corporation and independent licensee of the Blue Cross and Blue Shield Association.


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SOURCE Blue Cross Blue Shield of Michigan
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