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BLUES RESERVES ARE AT STATE TARGET

 BLUES RESERVES ARE AT STATE TARGET
 DETROIT, July 30 /PRNewswire/ -- Blue Cross and Blue Shield of


Michigan subscribers' reserves are above the target set by the state Insurance Bureau, Robert H. Naftaly, the Blues chief financial officer and executive vice president for administrative services, announced today.
 "The Insurance Bureau advised the Blues on Wednesday that subscriber reserves for this year should be $530.9 million to assure that the company has sufficient funds to cover any economic or health care claims emergency," Naftaly said.
 "As of May 30, our reserves were at $535 million," he reported.
 The Insurance Bureau's determination of appropriate subscriber reserves is based on the amount of claims paid out by the Blues last year, plus administrative expenses.
 In 1991, the Blues paid out nearly $5.4 billion in health care benefits for its 4.3 million members in the state. Administrative costs were $410 million, or approximately 7 percent.
 -0- 7/30/92 R
 /CONTACT: Rude Difazio of Blue Cross and Blue Shield of Michigan, 313-225-8113/ CO: Blue Cross and Blue Shield of Michigan ST: Michigan IN: HEA INS SU:


KD -- DE023 -- 5379 07/30/92 18:35 EDT
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Publication:PR Newswire
Date:Jul 30, 1992
Words:193
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