Blues losses decline for small-group business coverage.(Blue Cross and Blue Shield of Michigan data for 2001)(Brief Article)

Crain's Detroit Business | April 29, 2002| | Copyright

Blue Cross and Blue Shield of Michigan has sliced underwriting losses in its troubled small-group business on the eve of legislation aimed at changing Blues governance and health insurance in Michigan.

Underwriting losses in the segment narrowed to about $20 million in 2001 compared with an underwriting loss of about $66 million in 2000, said Mark Bartlett, Blues senior vice president and CFO.

The results don't include a $116.5 million accounting charge for old small-group losses that the Blues acknowledge they will be unable to recoup through rate ...

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