Officials Believe Blue Cross Sale Is Bad For Louisiana Customers
Governor Jeff Landry Issued This Statement:
From the beginning, we recognized that any transaction such as this would be disruptive to the healthcare landscape of the State. We appreciated the cooperation we received from both parties, our Commissioner of Insurance, and the legislature in both asking the tough questions, looking for solutions, and providing the answers so that the policyholders could make an informed decision and the State would be prepared if such a transaction occurred.
In the event you are a little late to the party, yet you're a Blue Cross customer, you definitely want to catch up on what's going on.
At present, Elevance Health of Indiana has proposed the purchase of Blue Cross Blue Shield of Louisiana, but at least two Louisiana Senators have voiced their concern regarding this sale.
Louisiana's Health And Welfare Chairman Says Elevance Has A Troubled History
In an article from the Louisiana Radio Network, we see that Louisiana Senate Health and Welfare Chairman Patrick McMath has stated that Elevance Health has a troubled history.
“Elevance has a terrible track record across the country. With regards to premium, increasing quality of care dropping and their profit soaring.”
Senator McMath Says "This Sale Needs To Be Stopped"
Certainly not pulling any punches on this one, McMath believes the proposed sale needs to be stopped.
“Clearly its going to be good for some of the folks that sit on the Blue Cross board. It’s going to be good for Elevance out of Indiana. But it very little in way of substance to the benefits for the folks of Louisiana.”
A two day public hearing regarding this proposed sale began yesterday and if Senator McMath is correct, should the sale be successful, it could be a devastating blow for Blue Cross’s one-point-nine million policyholders.
Elevance Health Says They Can Bring More Affordable Care To Louisiana
Officials from Elevance Health counter McMath's concern stating that, at present, Louisiana ranks dead last in almost every public measure in healthcare. In their argument for the sale, Elevance says the acquisition will lead to more affordable care, a better overall experience, and with their resources, better technology.
However, in a statement from Shreveport Senator Thomas Pressly, it's that technology that concerns him most.
“A lot of their fines, the one billion dollar fines they have over the last 24 years, have been related to their technology issue.”
For the sale to go through, it must be approved by two thirds of Blue Cross policyholders and will need the approval of Insurance Commissioner Tim Temple.
To see coverage of this public hearing just go HERE to the Louisiana Department of Insurance website.