FOR IMMEDIATE RELEASE

February 14, 2024

 

LDI Releases Statement on Withdrawal of BCBSLA Transaction and Cancellation of Today’s Hearing

 

Statement from John Ford, Louisiana Department of Insurance (LDI) Deputy Commissioner of Public Affairs, regarding Blue Cross and Blue Shield of Louisiana’s withdrawal of its Plan of Reorganization and the cancellation of the LDI hearing originally scheduled for today and tomorrow.

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. Any questions about why Blue Cross is withdrawing should be referred to BCBSLA.

For more information about the proposed transaction that has now been withdrawn, please visit https://ldi.la.gov/public-hearing-and-rulemaking-notices.

About the Louisiana Department of Insurance: The Louisiana Department of Insurance works to improve competition in the state’s insurance market while assisting individuals and businesses with the information and resources they need to be informed consumers of insurance. As a regulator, the LDI enforces the laws that provide a fair and stable marketplace and makes certain that insurers comply with the laws in place to protect policyholders. You can contact the LDI by calling 1-800-259-5300 or visiting www.ldi.la.gov.