Consumers Protest Blue’s $1.6B Deal
Opponents urged state insurance regulators to reject Florida Blue’s request to transfer $1.6 billion of its $2.8 billion surplus to a for-profit stock company, the Palm Beach Post reports. The Florida Alliance for Retired Americans referenced recent articles about Florida Blue published by the Palm Beach Post, and said the excess funds means the insurer has been overcharging policyholders. The public still has 10 days to comment on the proposal. Florida Blue, a nonprofit, is the largest insurer in the state.
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