House committee plans hearing on Blue Cross overhaul
LANSING –– A state House panel plans to continue hearings on a proposal to end Blue Cross Blue Shield of Michigan's tax-exempt status and transform it from a charitable trust to customer-owned nonprofit.
The House Insurance Committee has scheduled a hearing for Thursday on measures that would make major changes to how the insurer is governed and operates. The bills passed the Senate, and House leaders hope to move it to the full chamber for a vote by year's end.
Supporters of the proposal recommended by Gov. Rick Snyder and backed by Blue Cross say it modernizes the insurer and allows it to be taxed and regulated in the same way as its competitors. Critics counter it reduces oversight of a company that controls 70 percent of the market.