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Article: Planned Blue Cross split may hit elderly subscribers.
- Article from:
- The Boston Herald
- Article date:
- February 6, 1997
- Author:
CopyrightCOPYRIGHT 1997 Boston Herald. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Blue Cross and Blue Shield of Massachusetts wants to cut loose its Medex unit - a move seen by some experts as the first step toward abandoning the cash hemorrhaging business and its 200,000 elderly subscribers.
Blue Cross insisted yesterday's decision by its directors - part of a broad plan to break itself into three separate units - does not signal a reduction in commitment to Medex, which provides supplemental Medicare coverage.
But the insurer acknowledged the action would financially and legally separate Medex from the other Blue Cross operations.
Several industry experts said the move could set up a bankruptcy filig by the newly formed ...