The Great Deal Maker Strikes Out

[flockofseagulls104]

And distributing money is something the federal government does very, very well.

You have gone insane. And you still have evaded my question.

[Bob Juch]

Insurance competition across state lines.

You do understand that we already have insurance competition across state lines. All the major health insurance companies do business in many states. The difference is that now, they would be allowed to evade the requirements that various states put into law to protect their residents. You're a big states rights man Flock. I'm surprised you're not all up in arms about this.

No, there may be parent companies that provide shared services but each state has a different company. I work for HCSC which owns BCBS of IL, MT, OK, TX and NM. Each must be operated separately. BCBS of SC is totally independent, so are Independence Blue Cross, and BCBS of Arizona.

[earendel]

2. Bob, the ACA is floundering in some states, ...

I believe you mean "foundering."

No, they're flopping like a fish, hence "floundering".

[silverscreenselect]

Insurance competition across state lines.

You do understand that we already have insurance competition across state lines. All the major health insurance companies do business in many states. The difference is that now, they would be allowed to evade the requirements that various states put into law to protect their residents. You're a big states rights man Flock. I'm surprised you're not all up in arms about this.

No, there may be parent companies that provide shared services but each state has a different company. I work for HCSC which owns BCBS of IL, MT, OK, TX and NM. Each must be operated separately. BCBS of SC is totally independent, so are Independence Blue Cross, and BCBS of Arizona.

The Blues operate differently than other insurance companies because in a lot of states they are not classified as insurance companies. And because each state's laws are different in that regard, they have to establish separate companies in many states.

However, most insurance companies, both life/health and P&C are domiciled in one state (usually their state of origin or one where it's fairly easy to do business) and then licensed as foreign insurers in other states. Because New York regulations are so extensive, most companies looking to do business in New York have to establish a special NY subsidiary, but in most cases, one company can service the other 40 states. Even though a company may be domiciled in one state, the policies they offer have to be approved by each state in which they do business. That's why on some policies, you'll see a paragraph that says "this paragraph applies to residents of XX only." And their rates are filed separately with each state. But it's a lot easier to get a license as a foreign insurer in a second, third, or 49th state than it is to get the initial license.