State ramps up review of proposed Blue Cross merger with health insurance giant [The Montana Standard, Butte]
By Mike Dennison, The Montana Standard, Butte | |
McClatchy-Tribune Information Services |
State Auditor
Lindeen's office is arguing that an additional law should apply to the proposed merger, requiring customer approval of the merger.
"From a consumer standpoint, you get the (customers) involved in this process," says
Under state law, Lindeen and Attorney General
If the merger is approved,
In fact, Blue Cross Montana spokesman
A public hearing on the merger is scheduled
After Leaphart conducts the hearing, where he'll listen to testimony on the deal and whether it benefits the public, he'll forward his findings to Lindeen and Fox, who have up to four months to decide on approval.
Leaphart also will decide by month's end whether to apply the additional law that would require
The state has hired
"We wanted to make sure we did our due diligence on the initial question of whether this is good for
Under state law, Lindeen's office looks at whether the merger would have a significant adverse effect on health coverage and the availability of health care services in
The review by the
"We will work closely and hand in hand with Commissioner Lindeen to make sure the law is followed and make sure the public's interest is protected," he said last week.
While Fox's office will examine the value of assets that go to the foundation, the distribution of the money has no bearing on whether the merger should be approved, Laslovich said.
He said state officials will later examine the foundation, its governance and how it plans to spend the money, which will be more than
State law says that if
Shortly before
"It's the first time that the statute (on conversion) has been used," Laslovich says. "We're all kind of blazing a new trail here, figuring out how we make this work practically."
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