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Tufts and Blue Cross Reach an Agreement and other related news

Posted Jan 18 2009 2:12am
It appears like the recent publicity has been successful for an agreement.  
In the news too regarding Well Point is that they are laying off people and the recent news to halt selling two of their Part D health insurance programs.  

There is still enough money kicking around though to keep that venture capital company going as well as other interests, as not to forget about the reserve funds, which most are required to carry by law to keep insurance companies from being insolvent, but don't know what happened in AIG’s case, but maybe they were exempt? 

Health Insurance Reserves – How much is in the till, could it be 1 or 2 trillion nationwide?

There are pilot programs in place with sending patients to India for surgery as well with Blue Cross and you can read more here.   You really can’t say business has been bad for health insurance companies when you look at their ability to build such large reserve funds so quickly, but unfortunately there might be more to that story too as Maryland is investigating the amount of reserve funds maintained, while claims and other areas remain with constant patient and physician struggles to get a patient’s health care bill taken care of.  BD

BOSTON - January 17, 2009 - Tufts Medical Center and Blue Cross Blue Shield of Massachusetts have reached an agreement on a new contract.

No specific details were disclosed in a joint statement today, but the two say their plan members and patients will face no disruption.

After nearly a year of failed contract negotiations, this month Tufts Medical Center had begun telling its patients that beginning in February, they would no longer accept blue cross HMO coverage.

Tufts claimed Blue Cross was not paying their doctors a "reasonable rate." Blue Cross called the move a "negotiating tactic."

Mass. Hospital, Blue Cross Reach Deal (WBUR)

Related Reading:

State panel to examine payments to Partners Hospitals in Boston – Other hospitals in the State are looking for a bail out…

Tufts in Boston not happy with Blue Cross over doctor pay – Patients may have to change

Insurer's Reserves Criticized

Health Care Insurers Suggest Algorithms and Business Intelligence solutions to provide health insurance solution

Tufts Medical Center In Boston to Subsidize EHRs

WellPoint Gets Message from Medicare to suspend 2 Part D programs

Blue Cross/Blue Shield of Massachusetts reports $57.6 million profit for the 3rd quarter
BlueCross BlueShield Create New Venture Capital Organization
Health insurers reinvent themselves as money managers – Banks
Concierge Physician vs. Blue Cross/Blue Shield
Horizon Blue Cross- Blue Shield drops 2 Philadelphia hospitals
WellPoint settles Calif. lawsuit and Who’s going to China?
WellPoint to begin pilot Medical Tourism program with India
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