Department of Insurance, Securities and Banking

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Review of CareFirst’s 2011 Surplus

District law requires DISB to periodically review the surplus of Group Hospitalization and Medical Services, Inc. (GHMSI), a subsidiary of CareFirst, Inc., doing business in the District as CareFirst BlueCross BlueShield (CareFirst). A hearing was held on June 25, 2014 to determine whether CareFirst’s surplus for the year ended December 31, 2011 was unreasonably large and inconsistent with its community health reinvestment obligations.  The Commissioner issued a Decision and Order on December 30, 2014 concluding that GHMSI’s 2011 surplus was “excessive,” as defined by applicable law.

More information on surplus reviews is available here. More information about DISB’s review of CareFirst’s surplus for the year ended December 31, 2008 is available here. Additional CareFirst surplus review filings are available here.

DC Court of Appeals Materials

Plan for Dedication of Excess Surplus and Related Materials

Post December 30, 2014 Decision and Order Materials

DISB Orders and Notices

Press Releases

Post-Hearing Materials

Hearing Materials

Motions and Responses

Pre-Hearing Reports and Other Pre-Hearing Submissions

Surplus Review Report for Year Ended December 31, 2011 and Responses

GHMSI Financial Statements