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Horizon answers regulators' questions about conversion proposal

NEWS IN BRIEF — Posted March 16, 2009

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Horizon Blue Cross Blue Shield of New Jersey has filed more than 350 pages of responses to questions posed by the state's attorney general and the commissioner of banking and insurance regarding the plan's proposal to convert from a nonprofit to a for-profit company.

Horizon filed its conversion application in August 2008, the first time it had formally requested the change to for-profit status, although it had explored the idea twice before.

In October 2008 the two state offices deemed Horizon's application incomplete and asked for more information about future rate increases, spending on public health and tax liabilities.

Under state law, once the state deems the application complete, it must schedule public hearings on the conversion. Dept. of Banking and Insurance spokesman Ed Rogan said there was no timeline set for making that determination.

Note: This item originally appeared at http://www.ama-assn.org/amednews/2009/03/16/bibf0316.htm.

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