|Targeted News Service|
With two of the state's largest health insurers sitting on surpluses totaling
According to the companies' most recent financial statements,
"These are non-profit companies," said Insurance Commissioner
Kreidler is proposing legislation that would allow his office to consider surpluses when reviewing nonprofit health insurers' proposed rates. As things stand now, his staff must ignore them.
"As I've said before, it's like trying to ignore an elephant in the room," Kreidler said. "And the elephant's getting bigger."
The surpluses of both Regence and
"It's important to remember that these are not reserves, which are set aside to pay future claims," Kreidler said. "These billion-dollar surpluses are in addition to their reserves."
Commissioner Kreidler will be available for interviews from
Charts showing the growth in surplus are below, and are also available at http://www.insurance.wa.gov/legislative/health-insurer-surplus.shtml. A link to the draft legislation is also available there.
Audio clips (mp3 format) and photos of the commissioner are available at www.insurance.wa.gov/news/media/index.shtml.
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