Introduced by Sen. Virgil Smith (D) on January 16, 2013
To convert Blue Cross Blue Shield into a “mutual insurance company” and make it subject to the same regulations as regular health insurers. Although it would remain a non-profit, current restrictions on the entity's ability to own for-profit subsidiaries would be reduced, and it would no longer be subject to close oversight by the state Attorney General. In return for being granted this conversion, BCBS would pay "up to" $1.56 billion over 18 years (meaning it could be less) into a fund that would supplement various health-related government programs, with specific spending items selected by a board of political appointees. The bill does not include abortion restrictions that caused Gov. Snyder to veto the same measure when passed late last year. Official Text and Analysis.
Referred to the Senate Insurance Committee on January 16, 2013
Reported in the Senate on January 30, 2013
With the recommendation that the bill pass.
Amendment offered by Sen. Bruce Caswell (R) on January 31, 2013
To prohibit BCBS from cutting for three years the reimbursement rates it has agreed to pay to small hospitals.