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Nonprofit BCBS of Louisiana seeks approval for sale to for-profit Elevance
Posted on 2/6/24 at 9:36 pm
Posted on 2/6/24 at 9:36 pm
quote:
BATON ROUGE, La. (AP) — State officials are continuing discussions of a possible $2.5 billion sale of Blue Cross and Blue Shield of Louisiana, a non-profit health insurer used by nearly half of the state’s residents, to a much larger for-profit insurer based in Indiana.
A legislative committee held a nearly eight-hour meeting Monday to consider the proposed sale of Blue Cross and Blue Shield of Louisiana to Elevance Health, one of the nation’s largest insurers, The Times-Picayune/The New Orleans Advocate reported.
While any decision on whether or not to sell will come down to the state’s insurance commissioner and policyholders, legislators took the opportunity to question insurance regulators and gather more information, including about millions of dollars in regulatory fines issued to Elevance.
LINK
Posted on 2/6/24 at 9:43 pm to 4cubbies
Curious how many people thinks insurance costs will decrease if an overtly for-profit company takes over most of the policies in the state.
Posted on 2/6/24 at 9:50 pm to 4cubbies
quote:
Curious how many people thinks insurance costs will decrease if an overtly for-profit company takes over most of the policies in the state.
Don’t be fooled by the term non profit. You are foolish to think they don’t make money
Posted on 2/6/24 at 9:55 pm to ehidal1
quote:
Don’t be fooled by the term non profit. You are foolish to think they don’t make money
Exactly
Ochsner "not for profit"
NFL "not for profit"
Posted on 2/6/24 at 9:55 pm to ehidal1
That’s why I included “overtly for-profit”
Posted on 2/6/24 at 10:28 pm to ehidal1
quote:
Don’t be fooled by the term non profit. You are foolish to think they don’t make money
Yeah. The margins are damn near the same.
But this isn’t unusual.
Big BCBS blue shield orgs have been buying smaller ones for some time now.
Posted on 2/7/24 at 5:17 am to 4cubbies
I don’t know why it couldn’t. I have no idea what will actually happen.
They will bring a broader organization
This presents opportunities to cut upper and middle management and negotiate better deals with providers.
Again I have no idea if this will actually happen
They will bring a broader organization
This presents opportunities to cut upper and middle management and negotiate better deals with providers.
Again I have no idea if this will actually happen
Posted on 2/7/24 at 5:48 am to skidry
The goal of every insurance company is to pay as little as they can get away with on claims. That how they make money.
Anywhere Elevance has taken over in other states, service to their customers has gotten worse.
This is merely a dog and pony show and BCBS policyholders will ultimately have no say in the matter.
Insurance companies call the shots in the healthcare industry.
Anywhere Elevance has taken over in other states, service to their customers has gotten worse.
This is merely a dog and pony show and BCBS policyholders will ultimately have no say in the matter.
Insurance companies call the shots in the healthcare industry.
Posted on 2/7/24 at 7:08 am to craynagin
quote:
The goal of every insurance company is to pay as little as they can get away with on claims. That how they make money.
Can you explain how they can skirt their contractual obligation to pay legitimate claims?
Posted on 2/7/24 at 7:58 am to 4cubbies
quote:"Non-profit" doesn't mean no money. Some of the highest paid radio and TV station managers work at "non-profit" stations.
Curious how many people thinks insurance costs will decrease if an overtly for-profit company takes over most of the policies in the state.
Posted on 2/7/24 at 7:58 am to 4cubbies
Commies are now defending insurance companies, lmao
You people have no principles
You people have no principles
Posted on 2/7/24 at 7:59 am to 4cubbies
Non-profit =/= not for profit
Non-profits still run like a business. It’s just that they serve a public purpose.
Non-profits still run like a business. It’s just that they serve a public purpose.
Posted on 2/7/24 at 7:59 am to craynagin
quote:They are the customer, not the patient.
Insurance companies call the shots in the healthcare industry.
Dependency comes with a price. You always surrender choices.
Posted on 2/7/24 at 8:00 am to NineLineBind
quote:
Non-profits still run like a business. It’s just that they serve a public purpose.
While still being profitable.
Posted on 2/7/24 at 8:00 am to 4cubbies
quote:
how many people thinks insurance costs will decrease
Posted on 2/7/24 at 8:02 am to craynagin
quote:
Insurance companies call the shots in the healthcare industry.
They also subsidize governmental insurance programs AND non-payers
Posted on 2/7/24 at 8:02 am to 4cubbies
If only we would nix the protective relationship between government and health insurance, free market capitalism would drive insurance prices down. But we have to prop them up with protective legislation and tax laws.
This post was edited on 2/7/24 at 8:03 am
Posted on 2/7/24 at 8:03 am to jrobic4
quote:All that "free" care isn't free, is it?
They also subsidize governmental insurance programs AND non-payers
Posted on 2/7/24 at 8:05 am to GumboPot
quote:I don't blame government. I blame voters. Too many think they simply should not have to pay for their personal healthcare expenses. And they are demanding more from government and insurance companies. Not begging for personal responsibility. Government is reacting to that--as it's designed to do.
If only we would nix the protective relationship between government and health insurance, free market capitalism would drive insurance prices down. But we have to prop them up with protective legislation and tax laws.
It's cultural rot. Until there's demand for self-pay the descent into failure will continue. It took Argentina decades to get there. We won't be any quicker.
This post was edited on 2/7/24 at 8:07 am
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