"Since 1980, Blue Cross has been governed by PA 350 as Michigan's insurer of last resort. The law exempts Blue Cross from paying state and local taxes in exchange for offering coverage to people with pre-existing conditions. It also sets more stringent regulations over rate increases. The new structure would include a separate, independent nonprofit entity funded with $1.5 billion in contributions from Blue Cross over the next 18 years. This would serve as a continuation of the organization's charitable mission."  MORE >>