Blue Cross and Blue Shield of Louisiana has asked for more time to try to address concerns regarding the insurer’s potential sale to Indiana-based Elevance Health, after a previous public hearing was rescheduled from August to October.
The company has not yet settled on a timeline for its request, a spokesperson says, and current state Commissioner of Insurance Jim Donelon has expressed his intention to make a decision before leaving office. But more delays increase the likelihood of pushing a resolution into next year and onto the plate of Tim Temple, who will succeed Donelon.
“Affordable health care costs are vitally important to everyone and we certainly need to support efforts to accomplish this,” Temple says by email. “I am watching closely as this process plays out. Should this hearing get delayed and end up on my desk after January 8, I will follow the procedures to evaluate a potential deal.”
The state insurance department and at least two thirds of policyholders would have to approve the deal for it to move forward. State lawmakers and Attorney General Jeff Landry have expressed concerns, though they have no formal role in the approval.
“One theme we have heard is that people would like more time for questions to be addressed,” Blue Cross spokesperson Cindy Wakefield says in an email. “Since we are committed to making sure these questions are addressed, Blue Cross and Blue Shield of Louisiana and Elevance Health are working with [the Louisiana Department of Insurance] on the best approach to provide more time for the Attorney General and others to understand the benefits this transaction will provide to Louisianians and how the quality service our stakeholders know and value will continue.”
The pending deal has a deadline of Jan. 24 to close, though that could be pushed back if both parties agree.
