Senate Republican Leader Tom Kean issued the following statement after Horizon Blue Cross Blue Shield of New Jersey filed an application to convert from a non-profit health insurer to a for-profit company:
“A 2001 law provides a mechanism for thorough examination of public policy considerations before any conversion of Horizon into a for-profit company can be completed. The filing triggers a review process that will take many months.
“Among the safeguards built into this law are the creation of a 15-member advisory board appointed by leaders of both political parties in the Legislature, and requirements that any proceeds from the conversion be used to better the health care of state residents.
“Senate Republicans look forward to a vigorous debate that includes Horizon, consumer groups, health care providers and all the stakeholders in this important discussion.”
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