Mont. Insurer Submits Merger Proposal
|By Dennison, Mike|
The documents, filed with the state auditor and attorney general, outline how
The new foundation is required by a 2005 law, approved by Legislature to ensure that some
A small, state-based insurer like
The company also has said it doesn't expect to lose employees because of the transaction, and may actually increase employment and growth in the future.
"It means we remain locally focused and not-for-profit. ... It means we can become more efficient and keep costs down better than we could otherwise."
A key element of the deal is creation of the new health care foundation, financed by the sale and other assets not transferred to
The foundation will be governed by a board of directors, whose membership has yet to be determined.
Lindeen's office must hold a public hearing on the proposed transaction by the end of next March. A state hearings officer, appointed in consultation with the attorney general, will preside over the hearing and make a recommendation to Lindeen and
At the invitation of Attorney General
Bullock was elected governor
State law outlines how Lindeen and Fox must determine whether the merger is in the public interest.
Requirements include whether the deal will adversely affect access to health care services and health coverage, whether it treats customers fairly, and whether
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