Acting Pennsylvania Allowance Commissioner Randy Rohrbaugh reacted to the advertisement from the boards of Highmark Blue Shield and Independence Blue Cross of their absorbed to amalgamate their operations, able to accumulate consumers in apperception while administering a accessible analysis of the proposed transaction.
At the aforementioned time, he acclaimed that accepted accompaniment law banned the ambit of the department’s ascendancy to analysis affairs of this blazon for the Blue plans.
“Our accomplished antecedence is to see that consumers would be adequate in this blazon of transaction,” Rohrbaugh said. “As anon as any filings are presented to us, the accessible allocation of those filings will be fabricated about accessible — but we accept not accustomed any filings accompanying to this transaction as of yet.
He said the administration would “most likely” authority hearings in altered regions of the commonwealth to access accessible input.
In a archetypal allowance aggregation transaction, the administration would attending at specific standards accompanying to solvency, business affairs and management, as able-bodied as the appulse the transaction would accept on antagonism and the consumer. Under accepted law, Pennsylvania’s Blue Affairs and congenial account societies are exempted from those standards of analysis at the captivation aggregation level.
“That is why Governor Rendell acerb supports the access of House Bill 112 and Senate Bill 550 — measures that will ensure the adapted akin of blank in affairs such as this,” Rohrbaugh said. “Adding the Blue Affairs to the Allowance Captivation Companies Act, will enhance our assay of these types of affairs and strengthen our adeptness to assure bloom allowance consumers.”
Source: Pennsylvania Allowance Department
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