Close
ThinkAdvisor

Industry Spotlight > Mergers and Acquisitions

Michigan Forbids Blue Cross Conversion

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, Sept. 27, 6:45 p.m. – Michigan Lt. Gov. Dick Posthumus today signed S.B. 749, a bill that prohibits Blue Cross and Blue Shield of Michigan, Detroit, from converting to for-profit status.

The bill, which was sponsored by Sen. Bill Bullard, R-Highland, Mich., also prohibits dissolutions, mergers, consolidations, sales, transfers or other transactions that would lead to a change in control of Michigan Blue.

The provision dealing with Michigan Blue is a small part of the bill. Most of the bill changes the state laws governing the sale of Medicare supplement insurance policies.