If you read this article, it uses California as an good example on how this has been successful, well ask us in California what we think? We have some of the lowest paying contracts in the country for doctors, so it appears the non profit status with the tax breaks that accompany that status don't look so good anymore. "For-profit companies can offer better pay packages, including stock options, to top executives, Pauly said." These are the folks that benefit. BD
TRENTON - Horizon Blue Cross Blue Shield, New Jersey's largest health insurer, filed yesterday to become a publicly held for-profit company, a move that could bring the state a $1 billion windfall for health care but that comes with concerns about how the change could impact consumers.
Horizon's president and chief executive officer, William J. Marino, said converting to a for-profit company would help raise capital and allow competition with other insurers as he anticipates broad health-care changes. The value of the insurer on the open market, which Marino estimated was at least $1 billion, would go to a charitable foundation that, under current state law, would aim to provide health care for the needy.
Marino said that as a for-profit company Horizon would have more access to capital markets to make needed investments.
N.J.'s biggest insurer may turn for-profit | Philadelphia Inquirer | 08/16/2008
0 comments :
Post a Comment