Blue Cross Blue Shield of Michigan has been heavily lobbying Michigan state lawmakers and advertising to the public to pass legislation that will ease regulations on health insurance companies.
The law would take away the powers of the state to challenge any premium increases that BCBS of Michigan, a non-profit organization, wants to implement.
BCBS of Michigan argues that if the law isn’t put in place, they will be in financial jeopardy.
The state’s largest health insurer projects they’ll lose $264 million in 2009, reported the Chicago Tribune.
But there’s only a month left in the Michigan state legislative session, and BCBS isn’t convincing anyone that there’s an immediate crisis.
Critics of BCBS of Michigan’s efforts include state Attorney General Mike Cox, who says pushing a law through quickly isn’t the right move. It seems Cox also doesn’t think there’s any financial trouble that can’t be avoided.
Even if there is a problem ahead, argues Cox, it can wait until next year’s legislative session.
“There’s no reason this can’t be done in February or March or April — and done the right way, ” said Cox.
It doesn’t look like BCBS is going to get it’s way, regardless of the validity of their concerns.