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How the biggest health care deal in Louisiana history fell apart.

February 20, 2024 10:04 AM | Anonymous

The $2.5 billion Blue Cross-Elevance deal was rocked by a week of opposition.

The proposed sale of Blue Cross and Blue Shield of Louisiana to Elevance Health, along with the creation of the $3 billion Accelerate Louisiana Initiative, raised concerns regarding the governance structure of the foundation overseeing the funds. The changes included offering the new governor, Landry, a change to appoint a board member to the foundation, known as Accelerate Louisiana, while Temple would get a nonvoting seat.

In addition, policyholders complained about how much of the deal’s proceeds they stood to receive. Doctors and hospitals worried about negotiating reimbursements with a larger company. Lawmakers — notably, many traditionally pro-business Republicans — feared rising health insurance costs.


 
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