'; if(pArray.length >= 4) { i=2; } else if(pArray.length >= 3) { i=2; inline = ''; } else if(pArray.length >= 2) { i=1; inline = ''; } else if(pArray.length === 1) { i=0; inline = ''; } $('#librarydrawer_story_container script').each(function() { $(this).remove(); }); $(pArray[pArray.length - 1]).after(subscribeBox); $(pArray[i]).after(inline).after($('#librarydrawer_story_container')); $('#text-story').focus(function() { if ($(this).val() == 'EMAIL ADDRESS') { $(this).css({color: '#000000', backgroundColor: '#ffffff'}); $(this).val(''); } }); $('#text-story').blur(function() { var trim = $(this).val().replace(/[\s]/g, ''); if(trim === '') { $(this).val('EMAIL ADDRESS'); $(this).css({color: '#666666', backgroundColor: '#f8f8f8', border: '#666666 1px solid'}); } }); $('.content-subscribe .btn-submit').click(function() { var val = $('.content-subscribe .text').val(); if(val.search(/[a-z0-9!#$%&'*+\/=?^_`{|}~-]+(?:\.[a-z0-9!#$%&'*+\/=?^_`{|}~-]+)*@(?:[a-z0-9](?:[a-z0-9-]*[a-z0-9])?\.)+[a-z0-9](?:[a-z0-9-]*[a-z0-9])?/gi) === -1) { $('.content-subscribe .text').css('border', '#ff6600 1px solid'); $('.content-subscribe .text').focus(); return false; } return true; }); }); //-->

CareFirst must reinvest $56M into community

District of Columbia-based insurer has 45 days to craft reinvestment plan

CareFirst Blue Cross Blue Shield has amassed an "excessive" amount of money and should reinvest a portion of it back into the District of Columbia, where the nonprofit insurer is headquartered, according to a ruling from the D.C acting insurance commissioner, reported the Washington Post.

In his decision, Chester McPherson found that CareFirst's $963 million surplus was more than necessary for the company to operate and said it must reinvest $56 million into the community. He gave CareFirst 45 days to submit a plan laying out how it will spend the money.

CareFirst warned that the decision could impact its operations in Virginia and Maryland, where it also provides health coverage. "We are still reviewing today's decision but believe it is flawed and directly conflicts with an order we have received from another jurisdiction," CareFirst spokesman Scott Graham told the Post. "We believe it will raise serious concerns in both Maryland and Virginia as it may be damaging to subscribers in all three jurisdictions." The insurer could appeal the decision.

To learn more:
- read the Washington Post article

Related Articles:
First 2015 rate filings show premium hikes
Will premium cuts drive insurers out of Maryland market?
3 reasons insurance premiums won't 'skyrocket' next year