Even Health Care Companies Unsafe

News came last week that Blue Cross Blue Shield (BCBS) plans to cut 650 jobs over the next six months. Thoughts went out to my former coworkers at BCBS, where I did my first internship as a Web content editor. Even then, the health insurer had instituted a hiring freeze in their IT department, causing my summer internship to be extended 8 months but without the possibility of a position.
Did you know BCBS is actually considered a non-profit? Not in the traditional sense, of course, but they do enjoy some non-profit benefits because they are required by federal law to keep administrative costs below 12.5%. That means with all the hefty premiums they collect, summing up to billions, less than 12.5% can be devoted to expenses like payroll and …






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