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BLUES' RESERVES AT STATE TARGET FOR FOURTH STRAIGHT YEAR

 DETROIT, Jan. 25 /PRNewswire/ -- Blue Cross and Blue Shield of Michigan announced today that for the fourth straight year, reserves to cover future subscribers' claims are above the level required and authorized by state law.
 Robert H. Naftaly, Blues chief financial officer and executive vice president for administrative services, said estimates of reserves at the end of 1992 were $570 million. Subscriber reserves assure sufficient funds to cover any economic or health care claims emergency.
 "This is a significant turnaround for the Blues since Richard E. Whitmer became president and chief executive officer in 1988," said Naftaly. "In that year, reserves dipped to a negative $30 million. This is the longest period of growth for reserves in more than a decade," Naftaly explained.
 Determination of appropriate subscriber reserves is based on the amount of claims paid out by the Blues, plus administrative expenses.
 -0- 1/25/93
 /CONTACT: Rude Difazio, 313-225-8113, or Karen A. Martin, 313-225-8121, both of Blue Cross and Blue Shield of Michigan/


CO: Blue Cross and Blue Shield of Michigan ST: Michigan IN: INS SU:

SM -- DE033 -- 8748 01/25/93 16:59 EST
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Publication:PR Newswire
Date:Jan 25, 1993
Words:187
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