CareFirst will pay $95 million, ending years-long legal fight over nonprofit’s surplus funds

As a nonprofit insurance coverage firm, CareFirst — which is affiliated with the Blue Cross Blue Defend insurance coverage federation and supplies well being care plans in D.C., Maryland and Virginia — is just not supposed to show a revenue. However the firm, which insures greater than 3 million individuals within the area, has usually amassed lots of of hundreds of thousands of {dollars} in surplus funds. The District’s legal professional basic first sued the insurer in 2008, saying it had not met the necessities for a nonprofit to learn the general public — and sparking an ongoing combat over whether or not CareFirst should spend a few of that surplus to learn the D.C. group. | CareFirst pays $95 million, ending years-long authorized combat over nonprofit’s surplus funds

Huynh Nguyen

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