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Non-profit to for-profit? NJ’s largest insurer seeks corporate restructure

On November 19, the NJ Spotlight described how the NJ non-profit insurer is seeking to restructure, and why patient advocates don't like it.

New Jersey’s largest health insurance company, Horizon, says that a corporate restructuring will allow it to better invest in technology, build partnerships, and cut costs of care. Patient advocates say it’s an attempt by the nonprofit Horizon to convert into a for-profit entity. Horizon’s ability to do so rests hinges on the success of a new bill, championed by Assemblyman John McKeon, that is expected to go to a vote as early as later in December 2020. What is the end game here for the New Jersey payor powerhouse? Patient advocates point out a similar restructuring of Blues plans in other states led to the acquisition of plans, a move that ended up hurting consumers. So we will wait and see: is Horizon following the Blues playbook and setting themselves up for acquisition, furthering the trend of insurance industry control and expansion?

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