Keeping an eye on the Blues. Michigan is the latest state to step up its scrutiny of the Blues' dealings, in this case over certain business transactions.
State regulators are stepping up scrutiny of not-for-profit insurers, a trend that has ensnared Blue Cross and Blue Shield of Michigan in a lawsuit. The civil lawsuit by Michigan Attorney General Mike Cox, left, alleges that the insurer illegally transferred $125 million to a for-profit subsidiary, which used the funds to buy a for-profit insurer in 2007.
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D054598:Blue Cross Blue Shield Insurance Plans / Q000191:economics / Q000331:legislation & jurisprudence / Q000458:organization & administration*; D033161:Government Regulation; D008824:Michigan