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US: Examiner recommends approval for Blue Cross insurer merger

By  |  May 6, 2013
US: Examiner recommends approval for Blue Cross insurer merger

Former state Supreme Court justice William Leaphart has issued a report recommending the approval for Blue Cross and Blue Shield of Montana to merge with Health Care Service Corp. of Chicago. The 53-page report suggests that federal officials, Attorney General Tim Fox and Insurance Commissioner Monica Lindeen, should give the transaction the go-ahead; the two regulators have 60 days to rule on the case. If approved, the deal would see the combining of BCBS, Montana’s largest private health insurance company, with the country’s fourth-largest health insurer. Health Care Service Corp. is reportedly looking to buy for $40.2 million; that offer preserves state law regarding the matter, according to Leaphart’s report.

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