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Washington State Office of the Insurance Commissioner

2012 Legislature - Non-profit health insurers' surpluses

Our top legislative priority this year is gaining the explicit authority to consider health insurers' surpluses when reviewing their rate requests.

Factsheet on the legislation (SB 5247)

Full text of bill (SB 5247)

Rates are rising - but so is insurers' $2.5 billion surplus

The three largest non-profit health insurers in Washington - Regence Blue Shield, Premera Blue Cross and Group Health Cooperative - have accrued combined surpluses of more than $2.4 billion while continuing to seek double-digit rate hikes.

We want the explicit authority to consider a company's surplus when determining if a rate request is reasonable.

Surplus is not the same as an insurer's reserves

Reserves are required to ensure a company can pay future claims. They need healthy reserves for financial solvency.

Reserves are not part of a company's surplus. Surplus is what's left over after accounting for all foreseeable future claims and expenses.

Regence Blue Shield total capital and surplus

Regence Blue Shield total capital and surplus

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Premera Blue Cross total capital and surplus

Premera Blue Cross total capital and surplus

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Group Health Cooperative total capital and surplus

Group Health Cooperative

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Our complete 2012 legislative agenda.

 




Updated 02/09/2012

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