Today, the Louisiana Department of Insurance was supposed to begin two days of hearings regarding the sale of the state’s largest health insurance company, Blue Cross/Blue Shield, to Elevance Health.
However, LDI announced this morning that the deal is off and Blue Cross is no longer seeking approval to partner with Elevance.
No word on what Blue Cross will do next.
Louisiana Department of Insurance Deputy Commissioner of Public Affairs John Ford released a statement.
“Late yesterday evening, Blue Cross notified the LDI that it has chosen to withdraw its Plan of Reorganization. The hearing scheduled for today and tomorrow is therefore canceled, and I currently have no information regarding Blue Cross’ intentions moving forward.”