Lawmakers question sale of Blue Cross Blue Shield Louisiana to Elevance [Video]

BATON ROUGE, La (BRPROUD) — Lawmakers questioned insurance regulators about the possible sale of Blue Cross Blue Shield Louisiana to Elevance. The controversial move has drawn heavy support and criticism.

The sale of the nonprofit insurer Blue Cross and Blue Shield Louisiana to for-profit Elevance from out of state is raising concerns with policyholders.

“We just don’t have the resources to make those types of investments that our competitors make in Louisiana,” said BCBS CEO Steven Udvarhelyi.

Udvarhelyi stated Blue Cross and Blue Shield Louisiana is not making revenue as much as its competitors are in the state. The profits of the sale would partially go into a trust and some of the policyholders, but what it can be used for has not been clearly laid out. The agreement also includes language to keep on the staff locally for at least two years.

“There’s no guarantee that Blue Cross admin …