Louisiana Treasurer Opposes Blue Cross Sale to Elevance

Treasurer Fleming
Louisiana Treasurer John Fleming

NEW ORLEANS — On Jan. 8, Louisiana
State Treasurer John Fleming announced his opposition to the proposed sale of nonprofit Blue Cross Blue Shield of Louisiana to the Indiana-based company Elevance.

The same day, Louisiana’s hospital association also voiced opposition to the $2.5 billion deal, and state legislators issued their own critical report.

“Like thousands of other physicians across our state, I have spent the past few weeks studying the proposed sale,” Fleming said in a statement. “And I would like to join my fellow physicians throughout Louisiana and our physicians’ organizations in urging members of Blue Cross to vote no.”

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Fleming, who worked as a family doctor from North Louisiana before running for office, said Blue Cross has a “great, century-old record” as a mutual insurance company owned by its members and run for their benefit.

The insurer’s 3,500 employees live and work in the state. Fleming said that could change with the sale. And he’s also concerned about the potential for rising premiums.

“Their interests will be maximizing profits day in and day out and getting back the $2.5 billion purchase price,” said Fleming. “That will make it a completely different animal from the Blue Cross we know and love.”

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An Elevance spokesperson said “it’s unfortunate that Louisianians continue to be subjected to misinformation about the agreement between Blue Cross and Blue Shield of Louisiana and Elevance Health. The record is clear: Elevance Health is a trusted source of health coverage to more than 47 million people across the country while Louisiana ranks dead last by almost any public measure in healthcare. Louisianians can’t afford to let special interests who benefit from the status quo stand in the way of better healthcare, better health outcomes, and a future that includes continued Blue leadership in the Bayou State.”

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