Rescue the stricken health insurance companies



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Rescue of the ailing city BKK and GBK health insurance companies decided

(20.11.2010) The City BKK and GBK company health insurers, which are experiencing financial difficulties, will initially be saved by the other company insurers. As a spokeswoman for the Federal Association of Company Health Insurance Funds (BKK) confirmed, the CEOs of the health insurance funds agreed to help the two health insurance providers again. Numerous measures prevented the Federal Insurance Office from closing at the last minute. According to information from the "Welt", the insurance office had threatened to close the two health insurances in the event of insolvency. This could be prevented by the help measures of the BKK association.

At the almost five-hour meeting of the BKK board of directors, an agreement was reached to grant financial support to the City BKK. In the course of this, a strict restructuring plan is imposed on the cash register. As the BKK spokeswoman said, the association wanted to closely monitor the renovation. Around 200,000 people are insured in the City BKK. According to unconfirmed reports, the City BKK has accumulated a mountain of debt of around 50 million euros. The goal is to free the till from the debt burden in several stages. However, the City BKK has to put up with the fact that all steps for restructuring are monitored by the Federal Insurance Office, the Federal Association of Statutory Health Insurance Funds (GKV) and independent consultants.

For the GBK based in Cologne, they want to find a fusion partner within the BKK network. Around 30,000 people are insured in the smaller GBK. If a future partner agrees to merge with the ailing GBK, they will receive a 15 million euro grant. This aid is intended to serve as an incentive for a merger. Both grants are paid from the network of company health insurance funds. It was actually planned that the GBK would merge with AOK Rheinland / Hamburg. According to the more recent decisions, this partner will apparently be out of the race.

The insured were never threatened with losing their health insurance coverage. If one of the two health insurers had to close, the other health insurers would have had to absorb the insured. Treatments that have not yet been completed would still have been financed. However, closing one of the health insurers poses an incalculable risk for the other health insurers and could mutate into a snowball effect. Because the debt burden would have to be borne by the other health insurers, which in turn could get into bottlenecks. For this reason, the association bosses had to decide to initiate the rescue. Closure would have been an even greater risk. (sb)

Also read:
Bankruptcy averted by health insurance companies
City BKK & GBK health insurers threatened with bankruptcy
City-BKK saved from bankruptcy?
Is the City-BKK health insurance bankrupt?
Two health insurance companies are broke

Author and source information



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