Blue Cross losses: Bad economy or bad choices?

BLUE Cross Blue Shield of Michigan Mutual Insurance Co.; INSURANCE rates; HEALTH insurance companies; CORPORATE profits; INSURANCE premiums; FINANCIAL crises

The article reports that Blue Cross Blue Shield of Michigan contends that it will lose $166 million this year and $264 million in 2009 by selling health insurance policies to individuals. The projected losses are the biggest reason why Blue Cross argues that the Michigan Legislature to begin approving two substitute bills, which would allow it to raise rates more quickly and add consumer protections to level the playing field with competing insurers.