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Nov 23, 2005 - 04:00 PM
A Turkey In Every HMO Donor's Potby Jamie Court
The Schwarzenegger administration today gave a big Thanksgiving present to the Gov's 30th biggest donor -- Blue Cross of California. Schwarzenegger's HMO regulator announced that Blue Cross's premium increases were not used to finance $4 billion in recent merger costs. The only catch is the actuary Schwarzenegger's people picked for the audit is a former HMO accountant who states he did not examine the truthfulness of the assumptions Blue Cross used to calculate its premiums, such as medical cost inflation and administrative overhead costs. This Thanksgiving white wash for a $234,000 donor is evidence that Schwarzenegger may have eaten crow over his special election loss, but there's still something very fowl in Arnold's administration.
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