Blue Cross and its HMO arm reported net income of $85.5 million and revenue of $1.4 billion. More than two-thirds of Blue Cross's income, $58.4 million, came from investments.       
Blue Cross and HMO Blue ''both experienced very positive financial quarters," chief financial officer Allen Maltz said in a statement. Net income for the combined organizations increased 75 percent from the second quarter of 2004, when they earned $48.7 million.
The Blue Cross groups added 49,000 members during the quarter, bringing enrollment to 2.8 million.

It appears to me that the stockholders in insurance companies make (largely non-taxable) dividends using the insureds' cash, not their own.  By cutting benefits, the mega insurance companies increase their profits even more.

Query:  Is Blue Cross an investment broker or is it a health insurer?  What happens when the stock market drops?  Benefits decrease, premiums increase, the rich never lose?