BCBS of Nebraska receives approval for reorganization
Blue Cross and Blue Shield of Nebraska (BCBSNE) received approval from its members to reorganize into a mutual insurance holding company effective July 1, 2018.
The holding company, GoodLife Partners, Inc., will be the overall parent company for BCBSNE and its subsidiaries. The reorganization was approved during the company’s annual meeting of members, held March 26.
The Nebraska Department of Insurance had also previously approved the plan, following a public hearing in January.
“By becoming a mutual insurance holding company, BCBSNE will have more opportunities and flexibility with our investments that aren’t available to us under our current structure,” said Steven H. Grandfield, president and CEO. “The new structure will benefit our members because it will enable us to invest in and acquire companies aimed at making health care services more efficient and less expensive.”
Grandfield also noted that the reorganization will not affect BCBSNE members’ insurance coverage or premiums.