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Michigan AG challenges Blue Cross' financial projections

Detroit Free Press, December 10, 2008

Michigan Attorney General Mike Cox has renewed his call for Blue Cross Blue Shield of Michigan to provide more precise details about its projected losses on individual health policies, saying the Legislature should not pass bills sought by the insurer until consumers have more answers. The bills propose changing the way individual health policies are regulated in Michigan. The nonprofit Blue Cross wants to be regulated more like private insurers, including being able to immediately raise rates, rather than having rate hikes approved first by the state Office of Financial and Insurance Regulation.