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SPOKESMAN FOR BLUE CROSS & BLUE SHIELD OF OHIO ISSUES STATEMENT

 CLEVELAND, Sept. 24 /PRNewswire/ -- The following was released today by William A. Silverman, spokesman for Blue Cross & Blue Shield of Ohio in response to Community Mutual Insurance Company:
 Community Mutual Insurance Company is trying to use innuendo, falsehoods and half-truths to compete with what, by all substantive measurements, is BCBSO's superior performance record.
 Contrary to CMIC's belief that our business strategies are flawed, the fact is, over the years, BCBSO has outperformed CMIC in earnings, reserve growth and cost control.
 Over the past five years, CMIC's accumulated net earnings totaled a loss of $19.9 million. During the same period, BCBSO recorded a $100 million gain.
 CMIC's reserves, which stood at $443 million at the beginning of 1987 by Statutory Accounting Principles (SAP), has dropped to $300 million SAP at the end of 1992.
 Meanwhile, BCBSO's reserves during the past five years have more than tripled, climbing to $161 million SAP at the end of 1992.
 Concerning public contracts, CMIC is consistently second best, or fails to bid, for one very good reason -- BCBSO does a better job of controlling its own costs and what it pays hospitals and doctors, saving government and taxpayers millions over CMIC's bids.
 According to the Ohio Department of Insurance, BCBSO has consistently out-performed CMIC on controlling the cost of doing business.
 And, BCBSO's record of controlling hospital prices is a major reason why so many CMIC customers are switching to our company.
 BCBSO is Ohio's oldest and largest health insurer -- and growing. Facts speak louder than words.
 -0- 9/24/93
 /CONTACT: William A. Silverman, 216-696-7750, for Blue Cross & Blue Shield of Ohio/


CO: Blue Cross & Blue Shield of Ohio ST: Ohio IN: INS HEA SU:

TM -- NY088 -- 5643 09/24/93 19:51 EDT
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Publication:PR Newswire
Date:Sep 24, 1993
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