Blue Cross Blue Shield Changes Pass Legislature
LANSING - Blue Cross Blue Shield of Michigan will operate along the same rules as other health insurance companies.
Amid the uproar at the Capitol over Right to Work legislation, both the state House and Senate have passed bills transforming the state's largest health insurer into a "customer owned non-profit."
Supporters say this modernizes the insurer and allows it to be taxed and regulated like other health insurance companies.
This is expected to generate $100 million in tax revenue. Critics fear that it reduces oversight of a company controlling 70 percent of the market. The bill now goes to the Governor for signature.
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