Is Horizon BCBSNJ’s conversion in the public interest?
Horizon BCBSNJ believes its conversion is in the public interest. The people of New Jersey are the biggest beneficiary of Horizon BCBSNJ’s potential conversion because it unlocks the value of the health service corporation for the purposes of improving the state’s health care system. The conversion law requires the creation of an independent foundation that is to receive 100% of the initial stock of the health service corporation upon conversion. Horizon BCBSNJ’s conversion potentially could generate more than $1 billion to be dedicated to improving our state’s health care system without raising taxes. Additionally, conversion is in the public interest because, as a public company with access to the capital markets, Horizon BCBSNJ will have greater flexibility to invest in and acquire new capabilities and technologies to better serve the changing needs of our members and network physicians, hospitals, and other health care professionals. This will make Horizon BCBSNJ more efficient, ef
