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View Diary: BREAKING: Health Care Scandal in Kent Conrad's ND (updated) (287 comments)

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  •  These Blue cross/Blue Shield companies are (4+ / 0-)

    False non-profits.  Many are seeking to convert to for profit status.  Many, use the premium money they collect to purchase downtown real estate, put a part of the property into use as an operating site and rent out the rest.  Thus these properties become capital.  BC/BS companies often own 4 or more valuable buildings, with the actual insurance operations spread out among all of them, but never using the whole of any building.  If they go private, all of these assets are part of the transfer, and are not counted as profit.  That together with the huge salaries and bonuses = profit by another name. If the North Dakota insurance commissioner got all of this, or whatever of it was being used in that state, it will, most probably be the first time that any regulatory body has turned to the truth.  ND Blue Cross/Blue Shield should be required to forfeit its corporate charter and the people running the scam should go to jail.  How many premium payers have suffered financial and health damage from these thugs?

    Patriotism may be the last refuge of scoundrels, but religion is assuredly the first.

    by StrayCat on Tue Sep 08, 2009 at 07:10:33 PM PDT

    [ Parent ]

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