A public hearing scheduled to be held in Baton Rouge on Wednesday regarding the proposed reorganization and sale of Blue Cross Blue Shield of Louisiana has been canceled. The Louisiana Department of Insurance Commissioner announced that Blue Cross is withdrawing its restructuring plan. Blue Cross was scheduled to be sold to Elevance Heath in Indiana. There is no further information regarding Blue Cross’ future intentions. Louisiana Department of Insurance Commissioner Tim Temple issued the following statement regarding the plan’s reversal: “Over the past year, Louisiana Department of Insurance staff has worked with BCBSLA and Elevance to support ratepayers, insurers, and policymakers. , we have listened to physicians’ concerns. We have managed this.” “We have listened to the concerns of physicians. We have managed this.” “We have listened to the concerns of physicians. , had planned to hear from both companies and consumer advocacy groups at today’s hearing. However, as of this morning, both parties have chosen to withdraw the application. There are serious questions that need answers in order to provide protection and coverage. Withdrawal of the application precludes further consideration of this issue. “Governor Landry, Chairman Talbot and the Senate Insurance Committee, Commissioner McMath. We appreciate the level of care that the Chief Justice, the Senate Health and Human Services Committee, and other key stakeholders brought to this process. Most importantly, the Louisiana Department of Health received numerous inputs.” The public provided public comments on this proposed transaction, and I want them to know that I have read, considered, and evaluated their comments. ” “For more information on the proposed transaction, which has now been withdrawn, please visit https://ldi.la.gov/public-hearing-and-rulemaking-notices.” Blue Cross Blue Shield issued the following statement: Did. Since we announced our intention to be acquired by Elevance Health last year, we have not only been recognized and valued for the work we do every day by our members, providers, group leaders and broker partners. It became very clear. ” We hear from our stakeholders that they want Blue Cross and Blue Shield of Louisiana to continue to be a trusted partner in their health care journey, and we are committed to changing for the better. We pursued this transaction to help us do just that. However, it is clear that stakeholders need more time and information to understand the benefits of the changes we have proposed. As a result, we have decided to once again suspend the proposed transaction process with Elevance Health. This means withdrawing your application to the Louisiana Department of Insurance. It also cancels policyholder delegation and voting procedures, including a special policyholder meeting scheduled for February 21st. “We know that change is difficult, even when it is for the right reasons. We continue to need strong partners.” position, help us do more to make health care more affordable, and improve the health of our members and policyholders.But taking this bold step requires much more. Elevance Health released the following statement regarding the decision: “We support BCBSLA’s decision to withdraw the restructuring plan. We are committed to delivering better health outcomes and more affordable prices.” “We remain committed to this partnership and look forward to working with BCBSLA on the next steps to make it happen.” State Attorney General Liz Murrill released the following statement: “Yesterday, I submitted this letter to Health Secretary Tim Temple expressing my concerns and recommendations.” Blue Cross Blue Shield Elevance Health Transaction. This morning, the Louisiana Department of Insurance notified BCBS late last night that it had decided to withdraw its restructuring plan. I believe that BCBS made the right decision based on the information that I reviewed, particularly during his eight-hour Senate committee oversight hearing. ”
A public hearing scheduled to be held in Baton Rouge on Wednesday regarding the proposed reorganization and sale of Blue Cross Blue Shield of Louisiana has been canceled.
The Louisiana Department of Insurance Commissioner announced that Blue Cross is withdrawing its restructuring plan.
Blue Cross was scheduled to be sold to Elevance Heath in Indiana.
There is no further information regarding Blue Cross’ future intentions.
Louisiana Insurance Commissioner Tim Temple issued the following statement regarding the plan’s withdrawal:
“Over the past year, Louisiana Department of Health staff has worked with BCBSLA and Elevance to listen to the concerns of ratepayers, providers, policy makers, and physicians. I am proud of the hard work of my team.
“We look forward to hearing from both companies and consumer advocacy groups at today’s hearing to address important questions raised by policyholders, experts at the Louisiana Department of Insurance, and the Louisiana Legislature. However, as of this morning, both parties have chosen to withdraw the application.” Serious cases requiring answers to provide protections and safeguards to Louisiana ratepayers and providers. The withdrawal of the application precludes further consideration of the issue.
“We appreciate the level of care that Governor Landry, Chairman Talbot and the Senate Health Committee, Chairman McMath and the Senate Health and Human Services Committee, and other key stakeholders have brought to this process. Most importantly, “The Louisiana Department of Insurance accepted numerous public comments from the public regarding this proposed transaction, and I want them to know that I have read, considered, and evaluated their comments.” It is.
“I have always been and will always be on the side of Louisiana ratepayers, and I am honored to always advocate for them.”
“For more information on the proposed transaction, which has now been withdrawn, please visit: https://ldi.la.gov/public-hearing-and-rulemaking-notices. ”
Blue Cross Blue Shield issued the following statement:
“Since we announced our intention to be acquired by Elevance Health last year, we are proud to say that the work we do every day is not only appreciated but appreciated by our members, providers, group leaders and broker partners. has become very clear.
“We continue to hear from our stakeholders that they want Blue Cross and Blue Shield of Louisiana to remain a trusted partner in their health care journey, and we continue to hear from our stakeholders that they want Blue Cross and Blue Shield of Louisiana to remain a trusted partner in their health care journey. We drove this deal to do exactly that. But it’s not really the case. We need more time for our stakeholders to understand the benefits of the changes we’re proposing. It is clear that a lot of time and information is required, which is why we have decided to once again pause our proposed transaction process with Elevance Health. “This means that we are withdrawing the application,” the Ministry of Insurance will also cancel policyholder proxy and voting procedures, including a special policyholder meeting scheduled for February 21st.
“We know that change is difficult, even when it is made for the right reasons. We are poised for a vibrant future and making health care more affordable. , we continue to need strong partners to help us make more improvements, but we need more time to take this bold step.
“BCBSLA remains focused on serving our customers and remaining Louisiana’s health care partner of choice for the next 90 years and beyond.”
Elevance Health released the following statement regarding this decision:
“We support BCBSLA’s decision to withdraw its reorganization plan. We will continue to meaningfully engage with community members who truly care about better health outcomes and more affordable health care. I We remain committed to this partnership and will work with BCBSLA on the next steps to make it a reality. ”
Louisiana Attorney General Liz Murrill issued the following statement:
“Yesterday, I submitted this letter to Insurance Secretary Tim Temple outlining my concerns and recommendations regarding the Blue Cross Blue Shield and Elevance Health transactions.”This morning, the Louisiana Department of Insurance announced that late last night BCBS “Based on the information I reviewed, particularly during the eight-hour Senate committee oversight hearing, I believe BCBS made the right decision.”
“Please read the letter to Health Secretary Tim Temple.” here. “
