Huffington Post: What Can $268 Million Do for Healthcare in the D.C. Area?

On December 30, the Commissioner of the D.C. Department of Insurance, Securities and Banking determined that the District-based portion of CareFirst BlueCross BlueShield has accumulated excess surplus of $268 million. The Commissioner also determined that approximately 21 percent of this excess ($56 million) is attributable to the District, 26 percent to Virginia ($70 million) and 53 percent to Maryland ($142 million). He ordered CareFirst within 45 days to submit a plan to spend down the $56 million attributable to the District. The Commissioner will have to approve the plan before it can be implemented. Officials in Virginia and Maryland will determine how the $212 million allocable to those jurisdictions will be spent.

It is important that residents of the region understand how this decision came about and what it means to them.

Read the rest of Walter Smith’s column at the Huffington Post.

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