Errors in BCBS story posted on DL-Online
Portions of a front-page story in Tuesday's Forum headlined "Blues execs profited from bogus bonuses" need correcting.
For instance, the story said Blue Cross Blue Shield of North Dakota's premiums "skyrocketed by double-digit rates" during the recent five-year exam period. Instead, the Blues had a total average premium increase of 8.4 percent during the exam period.
The story also said the "lion's share" of the $64.2 million increased expenses over a five-year period went to the company's 15 top executives. In reality, executives received an additional $2 million, excluding benefits.
Finally, Tuesday's story said executives collected $5.5 million in incentive pay even when the company suffered losses. The Blues did have underwriting losses in three of the five years, but the company achieved bottom-line gains each year.