Committee Sets Hearings on Merger Recommendations

New law empowers panel to comment on Highmark/IBC proposal

The Senate Banking and Insurance Committee will hold two public hearings in the upcoming weeks to take testimony prior to developing its recommendations on the proposed merger of Highmark Inc. and Independence Blue Cross, according to Committee Chairman Senator Don White (R-41).

The hearings are set for Tuesday, September 23 and Tuesday, October 7. Both sessions will start at 10 a.m. in Hearing Room 1 of the State Capitol North Office Building.

Act 62 of 2008 requires that any merger involving the “Blues” be subject to approval by the Department of Insurance. The new law also empowers the Senate Banking and Insurance Committee and the House Insurance Committee to receive and review all filings submitted to the Department and to develop written comments and recommendations on the merger filings.

“Anyone who has followed the proceedings of the Banking and Insurance Committee is well aware of our concerns about ensuring that this merger be thoroughly and extensively monitored by the appropriate state governmental entities to protect the rights of health care practitioners and the people of Pennsylvania who rely on those services,” Senator White said. “We have a basic responsibility to ensure that any such merger not result in a monopolized market that degrades the accessibility and affordability of health care in Pennsylvania.”

The hearings are open to the public and the media is cordially invited to attend the proceedings.

Contact:

Noel Burch
(717) 787-8724