Blue Cross Blue Shield of Michigan plans to cut $600M in costs, offering buyouts to 700 employees.

Blue Cross Blue Shield of Michigan plans to cut $600 million in costs over several years due to rising drug prices and increased medical demand. To achieve this, the company is offering buyouts to about 700 eligible, non-union employees nearing retirement. The insurer has lost over $1 billion in the past two years and aims to reduce costs further if current measures fall short.

2 months ago
11 Articles