Does the conversion law require an open public process?
Yes, the conversion law provides for a rigorous public process. The New Jersey conversion law (N.J.S.A. 17:48E-49 et. seq.) sets forth a rigorous public process to evaluate a health service corporation’s proposed conversion to a for-profit health insurer. The Commissioner of DOBI receives the application of conversion and is required to hold a public hearing on the plan. Likewise, the New Jersey Attorney General receives a foundation plan and is required to hold a public hearing on the plan. The Commissioner and the Attorney General can hold the hearings jointly. All who wish to participate in the public hearings will have an opportunity to do so. Horizon BCBSNJ is committed to a transparent process. To that end, Horizon BCBSNJ has made its application for conversion, the foundation plan, as well as non-privileged Board materials public on its Web site (page www.HorizonBlue.com/conversion). Under the conversion law, Horizon BCBSNJ’s business plan and certain other financial documents a
