Nonprofit BCBS of Louisiana seeks approval for sale to for-profit Elevance

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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.

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