Lawsuit claims Regence BlueCross BlueShield no longer acting as nonprofit

Lawsuit claims Regence BlueCross BlueShield no longer acting as nonprofit

The class-action lawsuit claims the Oregon nonprofit health insurer is acting like a for-profit company by stockpiling excess funds that support large salaries.

The lawsuit, filed Friday in Multnomah County Circuit Court, asks a judge to rule that Regence is not fulfilling the public-purpose clause of its own bylaws, and is failing to use its excess earnings for the benefit of its members.

"What we see is what they pay their CEOs and how they give them bonuses (based on earnings)," said Darian Stanford, the Portland lawyer who is spearheading the case. "This is what I call white-hat litigation: the right thing to do."

Read more at OregonLive.com