Consumer groups can’t stop N.J. from letting Horizon operate like a for-profit company, court says

that allowed the state’s largest health insurance carrier — the not-for-profit Horizon Blue Cross Blue Shield of New Jersey — to operate more like a for-profit company.

The healthcare worker union, Health Professionals and Allied Employees, the consumer advocacy group Citizen Action New Jersey and the public interest law firm New Jersey Appleseed sued six months ago to overturn the decision by the Department of Banking and Insurance to allow Horizon to change its corporate structure.

The lawsuit accused Banking and Insurance Commissioner Marlene Caride of rushing the approval process and not requiring more from Horizon to make good on its pledge that the company’s 3.6 million policy holders would be protected from steep premium hikes and that the company’s charitable assets would be protected.

Get politics news like this right to your inbox with the N.J. Politics newsletter. Add your email below and hit"subscribe"If you purchase a product or register for an account through one of the links on our site, we may receive compensation.

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

US consumer confidence dips to six-month low, labor market views softenU.S. consumer confidence slipped to a six-month low in May as Americans' assessment of the labor market softened, but more households planned to purchase motor vehicles and other big-ticket items over the next six months, which could support economic growth this quarter.
Herkunft: Reuters - 🏆 2. / 97 Weiterlesen »