By: Patrick Springer, INFORUM
Premium vacation
At a time when Blue Cross Blue Shield wants to increase premiums up to 18.3 percent, reports surfaced Wednesday that the health insurer is spending up to $227,500 to send 35 of its employees to the Grand Cayman Islands.
The expenditure seems curious in light of the “dire” financial projections Blue Cross Blue Shield of North Dakota made last year, when it once predicted a possible loss of up to $23 million, said North Dakota Insurance Commissioner Adam Hamm.
The Westin Casuarina Resort on the Grand Cayman Islands is the location of a reward trip for top sales staff at Blue Cross Blue Shield, where getaways are an annual motivational tool.
The total budgeted for the trip, attended by 35 employees, each allowed to bring a guest, was up to $227,500, according to figures from Blue Cross Blue Shield, which said it amounts to 90 cents for each policyholder.
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What Blue Cross Blue Shield is spending
* Hotel: $3,000 per couple
* Airfare: Up to $2,000 per couple
* Cash: $1,500 per employee
* Total per employee: Up to $6,500 per couple; 34 couples
and CEO Mike Unhjem, who went solo
* Total: Up to $227,500, or 90 cents per policyholder.Source: Blue Cross Blue Shield
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http://www.inforum.com/event/article/id/233005/