by
Joan Trombetti, Writer | March 03, 2009
Blue Cross
Blue Shield
of Michigan
LANSING (AP) -- Blue Cross Blue Shield of Michigan is reporting that it lost $144.9 million in 2008.
The state's largest health insurer said Monday most of its losses were because of policies sold to individuals who aren't insured by their employers. Blue Cross officials again demanded changes to state law that haven't been approved.
Blue Cross says losses in the individual health market are growing because it's tough to raise rates, and competitors can reject less healthy applicants and send them to Blue Cross, which is the state's insurer of last resort.
Blue Cross requested rate increases on its health insurance plans last month.
About 400,000 people who buy their own health coverage through Blue Cross would be affected by the rate increases if approved.
