For nearly 80 years, Blue Cross and Blue Shield of Nebraska has been committed to providing our members with peace of mind, stability and security in the face of ever-increasing health care costs. That commitment includes maintaining our long-term viability and independence so that future generations of Nebraskans can continue to count on us to be there for them.
As part of these ongoing efforts, we plan to make some changes to our corporate structure. These proposed changes will not affect your insurance coverage, benefits or your premiums in any way.
What is the proposed change?
On December 1, 2017, Blue Cross and Blue Shield of Nebraska’s board of directors unanimously approved a plan to reorganize our company into a mutual insurance holding company. Other Blue Cross and Blue Shield Plans across the country, as well as several Nebraska insurers, have formed mutual insurance holding companies.
As a mutual insurance holding company, we will have more opportunities and flexibility to invest assets in ways that may not be available to us under our current structure. As a policyholder, this benefits you because it will enable us to invest in developing technologies and programs aimed at making health care services more efficient and less expensive.
The proposed reorganization will create a new mutual insurance holding company, called GoodLife Partners, Inc. If approved, this new mutual insurance holding company will become the overall parent company for Blue Cross and Blue Shield of Nebraska and our subsidiaries.
As a Blue Cross and Blue Shield of Nebraska policyholder, you currently have a membership interest (voting rights) in Blue Cross and Blue Shield of Nebraska. After the reorganization, your membership interest will be in GoodLife Partners, Inc., a mutual insurance holding company, and your contract rights as a policyholder will remain with Blue Cross and Blue Shield of Nebraska. Again, the reorganization does not affect your insurance benefits, coverage or your premiums in any way.
When will the reorganization occur?
As required by Nebraska law, the Director of Insurance will hold a public hearing on Jan. 22, 2018. As a policyholder, you are invited to attend and participate in the public hearing.
Following the public hearing, if the Director of Insurance determines that the reorganization is fair and equitable to policyholders, the proposed change will be submitted to our policyholders for approval at our Annual Meeting of Members on March 26, 2018. Sometime in February 2018, you will receive notice of the meeting, a detailed information statement and a proxy (mail ballot) with voting instructions. If approved, the reorganization will become effective July 1, 2018.
More information about the reorganization
- Frequently Asked Questions document
- Summary of the Plan of Reorganization
- Plan of Reorganization
- Nebraska Department of Insurance Notice of Public Hearing
These materials may also be accessed by coming to our office in Omaha at 1919 Aksarben Drive between 8 a.m. and 5 p.m., Monday through Friday. If you have any questions, contact us at 1-844-201-5217 or email corporate.secretary@nebraskablue.com.
We value the confidence you have placed in us. Your support for this reorganization will ensure Blue Cross and Blue Shield of Nebraska continues our service to all Nebraskans for generations to come.
Sincerely,
Steven S. Martin
President and Chief Executive Officer
