- Associated Press - Monday, June 23, 2014

PORTLAND, Ore. (AP) - A lawsuit filed against Oregon nonprofit health insurer Regence BlueCross BlueShield alleges it is acting like a for-profit company by stockpiling excess money to support large salaries rather than health care for policyholders.

The lawsuit filed late last week in Multnomah County Circuit Court asks a judge to rule that Regence is not fulfilling the public-purpose clause of its own bylaws, and is failing to use its excess earnings for the benefit of its members.

The Oregonian reports (https://bit.ly/1uZ287K ) that Regence defended its business practices, saying its values involve “putting our members first and having the financial stability to meet their medical needs.” Regence says it believes the claim is meritless.

Listed as plaintiffs are Regence policyholder Tanya March and her two children as well as Dischinger Orthodontics of Lake Oswego.

In a statement, Regence defends its reserve levels as appropriate and says its executive salaries are a tiny fraction of its overall expenditures.

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Information from: The Oregonian, https://www.oregonlive.com

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