Finally someone calls out a BlueCross BlueShield licensee for what it is: a business operating under the protection of nonprofit status, rather than a true nonprofit health insurer. Admittedly the Nonprofiteer has a dog in this fight, having been insured by the selfsame licensee, Health Care Services Corporation, until it discontinued her PPO policy and tried to herd her into an HMO distinguished primarily by its lack of access to the best hospitals in Chicago.
But the Nonprofit Quarterly reports something far more serious: the company's decision to dump poor policyholders rather than use its reserves to assist their transition to ACA coverage. Though mutual benefit associations like BlueCross are designed to spread both risk and profit among its members, HCSC instead directs its profits to executive compensation while leaving its policyholders out of luck--and out of coverage.
There are people who want to blame "Obamacare" for the recent rise in some health care premiums, but let's be clear: it's the private insurers who are overtaxing the system, not the patients or the doctors or the government. And calling them "nonprofit" does violence to the language, not to mention the health care system.