Business Services Industry
Northeastern Pennsylvania Blue Cross Maintains Surplus Greater than Required.
Knight Ridder/Tribune Business News, July, 2002
By M. Paul Jackson, The Times Leader, Wilkes-Barre, Pa. Knight Ridder/Tribune Business News
Jul. 12--WILKES-BARRE, Pa.--Blue Cross of Northeastern Pennsylvania has kept cash reserves of more than $400 million on hand for the past four years, millions more than the state minimum requirement, according to state insurance filings.
The company is required by the state and the national Blue Cross and Blue Shield Association to maintain surplus reserves.
But exactly how much is appropriate will be the subject of a series of state hearings in September, when state officials question four Blue Cross companies about their surplus reserve figures.
"I think we'd like to get a handle on how much is too much," said insurance department...
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