September 16, 2008

People over Profits: CareFirst is first on the list

So this is by far the the coolest news we read all day:

"D.C. considers drawing down CareFirst’s surplus"

CareFirst of D.C. would be compelled to surrender a percentage of its burgeoning revenues for the community’s benefit or risk no rate increases for a year under legislation to be considered by the D.C. Council.

Every year, CareFirst collects $2 billion in health insurance premiums, and it currently has a $754 million surplus.

Big ups to Ward 3 Councilwoman Mary Cheh, chairwoman of the Public Services and Consumer Affairs Committee, for introducing this legislation.

Needless to say, we will be following this story closely!

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