Navigation Links
Capital Blue Cross Issues Statement on Withdrawal of Merger
Date:1/21/2009

HARRISBURG, Pa., Jan. 21 /PRNewswire/ -- The following statement can be attributed to Michael J. Merenda, Executive Vice President, Capital BlueCross:

"Capital BlueCross has consistently said two things: We are not inherently opposed to this or any other merger. But we have urged public policy makers to think long and hard before approving this proposed merger without conditions, because without conditions the merger would create a single entity controlling 70 percent of Pennsylvania's commercial health insurance market.

"Under the leadership of Pennsylvania Insurance Commissioner Joel Ario, the Commonwealth has done an exemplary job of providing that thoughtful analysis. Commissioner Ario's thorough process sets the standard for review of such complex public-policy proposals.

"The two moving parties announced today that they have decided for their own reasons not to proceed with the merger.

"For us, the withdrawal of their application changes nothing. Our corporate focus will be the same tomorrow as it is today and was yesterday: To do everything we can to help our customers to control health care costs in this most challenging economy. As long as we do that, we will serve our members well, regardless of what other players might do.

"But we do hope that state policy makers will regard this decision as the conclusion of a chapter, not a story. Commissioner Ario's hearings shined a stark light on numerous structural challenges in the Pennsylvania health insurance marketplace, and it is important those challenges continue to be considered, debated and addressed. State Sen. Don White, whose leadership on this issue also has been exemplary, already has indicated he will do just that, and we applaud his commitment and look forward to working with him.

"In the meantime, we look forward to hearing the further comments Commissioner Ario has said he intends to share tomorrow."

Capital BlueCross is an independent licensee of the Blue Cross and Blue Shield Association


'/>"/>
SOURCE Capital BlueCross
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Amilpar - Notice to Shareholders - Distribution of Interest on Capital Stock
2. Hospitals and Health Systems to Cut Back on Both Capital Spending and Unprofitable Services in 2009
3. Onvia Fills Critical Information Gap with Launch of its Economic Stimulus Toolkit, Enabling Businesses to Understand, Prepare for and Capitalize on Pending Stimulus-Driven Opportunities
4. Hard To Treat Diseases (HTDS) Recapitalization
5. Prism Pharmaceuticals to Receive $10 Million Milestone Payment from Paul Capital Healthcare
6. MALO CLINIC Avoids Capital Expense and Gains Scalability with Hosted Unified Communications
7. Daniel J. Nevrivy, Ph.D., Biotech and Pharmaceutical Patent Attorney, Launches New Law Firm Aimed at Helping Clients Preserve Their Capital
8. Memory Pharmaceuticals Regains Compliance with NASDAQ Market Capitalization Requirement
9. Michigan Pre-Seed Capital Fund Invests in Three More Michigan Start-Ups
10. Global Med Technologies(R), Inc. Clarifies Proposal Received from Victory Park Capital Advisors, LLC
11. Global Med Technologies(R) Inc. Receives Unsolicited Proposal From Victory Park Capital Advisors, LLC
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... ... ... First Choice Emergency Room , the largest network of independent freestanding ... of its new Mesquite-Samuell Farm facility. , “We are pleased to announce Dr. ... James M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. , Dr. ...
(Date:6/25/2016)... ... June 25, 2016 , ... On Friday, June 10, Van Mitchell, Secretary ... Work award to iHire in recognition of their exemplary accomplishments in worksite health promotion. ... Maryland Workplace Health & Wellness Symposium at the BWI Marriott in Linthicum Heights. iHire ...
(Date:6/24/2016)... ... June 24, 2016 , ... Those who have experienced traumatic events may suffer ... unhealthy avenues, such as drug or alcohol abuse, as a coping mechanism. To avoid ... healthy coping following a traumatic event. , Trauma sufferers tend to feel a range ...
(Date:6/24/2016)... ... 24, 2016 , ... The Pulmonary Hypertension Association (PHA) learned ... receive two significant new grants to support its work to advance research and ... by recognizing patients, medical professionals and scientists for their work in fighting pulmonary ...
(Date:6/24/2016)... ... June 24, 2016 , ... Comfort Keepers® of San Diego, CA ... the Road To Recovery® program to drive cancer patients to and from their cancer ... ensure the highest quality of life and ongoing independence. Getting to and from ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... , Belgium , June ... MKT: VNRX), today announced the appointment of Dr. ... of Directors as a Non-Executive Director, effective June ... Company,s Audit, Compensation and Nominations and Governance Committees.  ... Dr. Futcher will provide independent expertise and strategic ...
(Date:6/23/2016)... , June 23, 2016 Any dentist who ... challenges of the current process. Many of them do not ... the technical difficulties and high laboratory costs involved. And those ... offer it at such a high cost that the majority ... Dr. Parsa Zadeh , founder of Dental ...
(Date:6/23/2016)... , June 23, 2016 Research and ... Devices Medical Market Analysis 2016 - Forecast to 2022" ... The report contains up to date financial data derived ... Assessment of major trends with potential impact on the market ... of market segmentation which comprises of sub markets, regional and ...
Breaking Medicine Technology: