BCBSTX, also a nonprofit, had nearly $27 billion in invested assets, including some $1.9 billion in cash and cash equivalents, as of September 30, 2021, according to the most recent financial statements on its website.īCBSTX serves some six million Texans and is the primary health care insurance option for the roughly 328,000 employed by the state at any given time, as well as many of their eligible family members. "We value the care Ascension provides our members, but it is already one of the most expensive health systems in the Austin and Central Texas area."Īscension, a nonprofit, had nearly $18 billion in cash reserves, according to New York Times report on the company's staffing cuts in recent years. "We are negotiating in good faith and committed to reaching an agreement that will continue to give BCBSTX members access to Ascension facilities at a fair price," BCBSTX said in a statement issued to MySA. "We are seeking to renew our Blue Cross Blue Shield of Texas agreement with reasonable and updated contract terms to help ensure its members in Central Texas can continue to access our unique combination of high-quality, advanced, and affordable care," Ascension Texas said in a statement to MySA.Īscension claims the "current market state and inflationary pressures" are not taken into account in the insurance providers contractual terms.
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