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Looks like the Elevance - Blue Cross LA sale isn't happening anytime soon
Posted on 9/21/23 at 12:18 pm
Posted on 9/21/23 at 12:18 pm
LINK
Still a lot of questions, and now there is a push in some quarters to have the hearings take place under the new insurance commissioner, who will take office in January.
Still a lot of questions, and now there is a push in some quarters to have the hearings take place under the new insurance commissioner, who will take office in January.
quote:
Officials with Blue Cross and Blue Shield of Louisiana said this week they are again seeking to postpone a key regulatory hearing on the proposed sale of the Baton Rouge-based nonprofit, raising questions about the trajectory of the $2.5 million sale to one of the country’s largest, for-profit insurers, Elevance Health.
While Blue Cross did not specify the length of the delay they are seeking from the Louisiana Department of Insurance, which must approve the deal, any additional delays would, as a practical matter, likely push the approval process into the new year and into the hands of a new administration.
3
Posted on 9/21/23 at 12:25 pm to LSUFanHouston
I was interviewed for a position for BCBS a few months ago. Apparently, all the employees and managers thought the sale was done and nothing would really change at least for a while. There was never a hiring freeze at least.
Posted on 9/21/23 at 12:28 pm to LSUFanHouston
quote:
raising questions about the trajectory of the $2.5 million sale to one of the country’s largest, for-profit insurers, Elevance Health.
Am I missing something? Shouldn’t this be BILLION?
Posted on 9/21/23 at 12:34 pm to LSUFanHouston
It seems like previous history with acquisitions like this around the country point at this sale not providing better benefits and only hurting the people of Louisiana. Which completely contradicts the statements coming out of the Blue Cross LA leaders. Honestly it looks like the board and CEO are just selling the company down the river for personal gain. The fact that it looks like they're basically vote buying with that $3k per voting member payment looks bad.
This post was edited on 9/21/23 at 12:36 pm
Posted on 9/21/23 at 1:01 pm to Geauxld Finger
quote:
of the $2.5 million sale
quote:Yes, it should be billion not million.
Am I missing something? Shouldn’t this be BILLION?
It's difficult to have much confidence in a writer's story when he/she can't differentiate between a billion and a million dollars.
Posted on 9/21/23 at 1:06 pm to BeerMoney
Blue Cross dominated markets have worse patient care. They penny pinch doctors and hospitals causing those doctors and hospitals to penny pinch themselves. They are also extremely litigious.
frick BCBS.
frick BCBS.
Posted on 9/21/23 at 2:59 pm to BeerMoney
quote:
It seems like previous history with acquisitions like this around the country point at this sale not providing better benefits and only hurting the people of Louisiana. Which completely contradicts the statements coming out of the Blue Cross LA leaders
The reality is while there will likely be cost savings with this transaction, those savings will accrue to the shareholders of Elevance, not to the LA doctors and members of BCBS. The LA doctors and members will likely come out of this in a worse position.
Posted on 9/21/23 at 3:44 pm to ell_13
quote:
There was never a hiring freeze at least.
There is a hiring freeze currently. My wife is a BCBS employee.
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