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Capital BlueCross CEO Says Meaningful Statewide Competition Must Be Key Criteria in Pennsylvania's Review of Proposed Highmark-IBC Merger
Date:1/30/2008

a purported $1 billion, one-time economic benefit to the Commonwealth. I know this Committee will carefully review that figure. But it also should carefully review what it would have to give up for that money. Pennsylvania's health-insurance market will account for more than $500 billion over the next decade alone. So we respectfully pose the question -- is a one-time payment worth mortgaging the competitive future of this enormous and vital market?

"We believe the answer is no. But what is beyond debate is this: To approve this merger without competition-enhancing conditions would forever close the door on a competitive statewide health-insurance marketplace. Make no mistake: This merger is the Commonwealth's final opportunity. We either nurture vibrant statewide competition. Or we forever preclude it."

For a copy of CEO Smith's testimony, please go to http://www.capbluecross.com.

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


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SOURCE Capital BlueCross
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