The Chicago-based company that operates a lucrative network of Blue Cross Blue Shield health insurance plans made out like gangbusters with President Donald Trump’s tax law. Even though it paid no taxes last year, it collected a massive $1.7 billion tax refund, according to the company’s latest financial report. The tax giveback boosted the net profit for Health Care Service Corp. to $4.1 billion on $35.9 billion of revenue, according to its filing, which was first reported by Axios. The company reported $1.3 billion in net profit on $32.6 billion of revenue in 2017. Sen. Bernie Sanders (I-Vt.) blasted Loepp’s high compensation at a time when nearly 800,000 Michigan resident are going without health insurance.

Source: Huffington Post March 12, 2019 03:00 UTC