> I propose we create a movement that demands that insurance companies use their excess profit, etc. to buy people's medical debt and free them of it. How do we get this movement going? Blue Shield of California alone has hundreds of millions a year in surplus, that would buy out billions of dollars in medical debt for people and completely change many people's lives for the better.
Blue Shield of California had a net loss of almost a billion dollars in 2022[0]. Should they do the reverse in that case and put their excess loss by putting more people in medical debt?
No, they should do a bunch of internal audits and clean house and go bankrupt if that's what's in the cards. Mismanagement has consequences.
As you pointed out, they are being run very poorly, while the top executives still take home million dollar salaries (1) and have been spending money on things like the Blue Shield Field Club at Oracle park.
If they do the work, I'm sure they can do right by the general public and their customers, they are currently not. They have a 1.1 star review with 800 reviews on Yelp, it's lower than the San Francisco DMV which has 1.8.
Blue Shield of California had a net loss of almost a billion dollars in 2022[0]. Should they do the reverse in that case and put their excess loss by putting more people in medical debt?
[0]: https://www.blueshieldca.com/en/home/about-blue-shield/corpo...