Are you stupid enough to continue to support this?
Health Care Service Corp, which operates Blue Cross and Blue Shield plans in a handful of states, did not have to pay any federal taxes in 2018 and received a $1.7 billion tax refund., becoming one of the biggest beneficiaries of the GOP tax cut.
Health Care Service Corp., which operates Blue Cross and Blue Shield plans in a handful of states, did not pay any federal taxes in 2018 and received a $1.7 billion tax refund, according to its latest financial report.
The tax refund boosted the health insurance conglomerate's net profit to $4.1 billion last year, which compares to $1.3 billion in 2017, according to Axios, which first reported about Health Care Service's tax refund.
Axios noted that Health Care Service was one of the biggest beneficiaries of the GOP tax cut and has experienced rising profits from its health plans in the Affordable Care Act marketplace.
Health Care Service oversees Blue Cross and Blue Shield plans in Illinois, Montana, New Mexico, Oklahoma and Texas.
The company did not immediately respond to The Hill's request for comment.
In a statement to Axios, Health Care Service said it would pay any rebates as dictated by federal law and noted that it had "experienced record customer retention" in 2018.
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