Michigan Senate committee to discuss Snyder's plan to overhaul Blue Cross Blue Shield of Michigan
Blue Cross wouldn't be sold or lose its nonprofit status, tt would become an organization owned by its policyholders
A Senate committee is expected to discuss a recommendation by Gov. Rick Snyder to overhaul Blue Cross and Blue Shield of Michigan.
The Senate Insurance Committee's Wednesday morning meeting is scheduled to include a presentation by Office of Financial and Insurance Regulation Commissioner Kevin Clinton about the proposal that includes ending the nonprofit health insurer's tax-exempt status and aligning it with competitors.
The Republican governor said last week he aims to "level the playing field" for insurers and modernize Michigan's insurer of last resort, which serves 4.4 million residents.
Blue Cross wouldn't be sold or lose its nonprofit status. It would become an organization owned by its policyholders and regulated in the same way as many competitors.
The plan requires approval by the Legislature and Blue Cross' board of directors.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.