The New Jersey Department of Banking and Insurance (DOBI) has set three public hearings in October on Horizon Blue Cross Blue Shield of New Jersey’s application to reorganize its corporate structure as a nonprofit mutual holding company.
DOBI announced Thursday that it had deemed Horizon’s application to be complete and will hold a series of public hearings, as required by law, on Oct. 6, Oct. 11 and Oct. 17 to give the public an opportunity to comment on the restructuring plan.
“As part of the public hearing process, Horizon Blue Cross Blue Shield of New Jersey will present an overview of their plan to reorganize as a mutual holding company,” DOBI Commissioner Marlene Caride said. “The public will have multiple opportunities to share comments on the application and plan through one in-person hearing, two virtual sessions as well as the submission of written comments.”
The application is available for public review here, along with information on how to register to attend upcoming public hearings, which will be held at the following times:
- 11 a.m., Oct. 6 at DOBI, 20 West State St., Trenton
- 6 p.m., Oct. 11 (virtual hearing)
- 1 p.m., Oct. 17 (virtual hearing)
Written comments can also be submitted to DOBI via email to firstname.lastname@example.org with the subject line “NJ Health Service Corporation Reorganization.”
The commissioner is required to either approve or reject the reorganization plan within 30 days of the last public hearing.
“We appreciate the very thorough and complete effort that the Department has invested in evaluating our application,” Horizon BCBSNJ said in a statement issued after DOBI deemed the application complete. “We remain committed to continue working with the department to achieve a successful completion of this process and to providing the benefits that the reorganization will deliver to our members.”