MOUNTLAKE TERRACE – Premera Blue Cross, which has appealed Washington state’s rejection of its application to become a for-profit company, also will appeal a similar decision in Alaska.
However, the health insurer also will hold discussions with Alaska’s insurance commissioner about conditions that could lead to approval of its conversion plan in that state.
Yori Milo, Premera’s chief legal and public policy officer, said the dual strategy keeps the company’s options open.
Washington Insurance Commissioner Mike Kreidler last month issued an unequivocal rejection of Premera’s conversion plan, saying it was not in the best interest of the public.
In Alaska, Insurance Director Linda Hall also ruled that the conversion plan, as submitted, wasn’t in the best interest of consumers. But she added that it might be acceptable if certain changes were made.
“We will discuss with the state the director’s conditions for approval and assess whether those conditions are in the best interests of the company and our members and other customers,” Milo said in a statement Wednesday. “It is our hope that we can reach a satisfactory outcome on the conditions and render the appeal moot.”
Mountlake Terrace-based Premera, which provides health insurance and related services to more than 1.3 million subscribers, has argued that being allowed to become a for-profit company with stockholders would help it raise money to invest in technology and patient services.
Opponents of Premera’s conversion have criticized the nonprofit for spending more than $35 million so far on its conversion efforts and appeals.
Reporter Eric Fetters: 425-339-3453 or fetters@heraldnet.com.
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