VIDEO: TakeCare Explains to Rodriguez

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Guam – TakeCare hasn’t spoken to local media yet to explain their decision to pay shareholders $15-million rather than paying rebates to their subscribers.

But the health insurer has spoken to the Legislature’s Health Committee Chair Senator Dennis Rodriguez who says Takecare told him that the  $15-million is not exclusively from subscriber premiums, but comes from profits generated from other operations.

READ TakeCare’s 2011 audited Financial Statement HERE

However Rodriguez still believes that federal officials should take a look at what Takecare did and he says he also intends to introduce legislation to close whatever loopholes may exist that allow island insurers to avoid the requirement to pay back the excessive premiums they  charged to their subscribers.