LANSING, Mich. (WILX) -Blue Cross Blue Shield of Michigan says they need to cut their budget by hundreds of millions of dollars over the next several years.
The state’s largest health care provider says they need to make cuts to their workforce because of skyrocketing prices for prescription drugs as well as an increase in people seeking medical treatments
Blue Cross says they are offering employees who are eligible to retire and are not part of their union a financial incentive to step away. A company spokesperson says there are currently 700 employees who are retirement eligible in 2025. The reduction in staff will help reduce the impact of administrative cost reductions on the rest of the workforce.
The company adds they have lost more than a billion dollars over the past two years and if they cannot cut 600 million dollars in administrative costs they may have to consider additional cuts.
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Source: Blue Cross Blue Shield needs to trim $600 million from budget
