Virtually every day, we get at least one, and sometimes more, press releases from the Governor’s office, touting the signing of one piece of ‘landmark’ legislation after another.
Jack Markell is not the first governor to do this, it’s a time-honored tradition of giving oneself ‘the rub’ (wrestling term for putting someone over) and giving legislators ‘the rub’ as well.
However, like me, you may have missed that fact that, on July 12, 2011, Governor Markell quietly signed SB 146, which puts $170 million in reserves that are currently under the stewardship of BC/BS DE at risk. This is notable because BC/BS accumulated these reserves because of its putative not-for-profit status, a status conferred upon it by government. Meaning that these reserves were collected from Delaware policyholders. $170 million. Not-for-profit. Nothing says ‘not-for-profit’ quite like $170 million in reserves. Especially when the only ‘protection’ afforded the public is the keen oversight of dim bulb Karen Weldin Stewart, who, for all we know, may well be on the way to a big payday from the companies involved in this merger because she will provide next to no oversight.
In other words, no protection at all.
Unlike minor bills with overhyped signing ceremonies, this major bill with profound implications was signed under a cloak of secrecy. No phony ballyhoo, no flashbulbs going off, just a bunch of dishonorable ‘honorables’ skulking out of town for the summer after doing the bidding of insurance giants to the detriment of Delawareans. The sponsors of this bill were Senators Blevins and Simpson; Reps. B. Short, Gilligan, Hocker and D. Short. The bill was signed by Governor Jack Markell.
Remember those names if (more likely ‘when’) these $170 million in reserves migrate to undeserving parties. And remember that they didn’t even want you to know that this bill had been signed.
Now you know.