Introduced
by
To allow Blue Cross Blue Shield to own multiple for-profit subsidiaries that sell worker’s compensation insurance. BCBS is a non-profit entity that receives approximately $100 million in tax breaks annually in return for performing a “social mission” of being the “health insurer of last resort” for unhealthy individuals unable to get insurance elsewhere. Due to this advantage the company is prohibited from competing in other insurance product markets, but an exception allowed it to purchase the for-profit Accident Fund to sell workers comp insurance.
Referred to the Committee on Economic Development and Regulatory Reform
