Blue Cross Blue Shield to cut up to 1,000 jobs

LANSING, Jan. 16, 2009 (AP): Blue Cross Blue Shield of Michigan plans to cut up to 1,000 jobs and make other budget cuts this year in another blow to the state's economy.

The company hinted at possible layoffs last year after the Michigan Legislature did not pass changes to insurance rules sought by the company. Blue Cross says it wants law changes because it is losing millions of dollars each year on health insurance policies that cover individuals.