Conlin makes case for Horizon to change corporate structure
"Horizon Blue Cross Blue Shield of New Jersey Executive Chairman Kevin Conlin began making the case to legislators Tuesday that the insurer should be allowed to reorganize as a not-for-profit mutual holding company.
Conlin, appearing in a Zoom conference with the Assembly Financial Institutions and Insurance Committee, said allowing Horizon to change its corporate structure would enable the organization to better serve its customers.
With more than 3.6 million covered lives, Horizon easily is the biggest health insurer in the state. But it is one, Conlin argued, that cannot react rapidly to changes in customer needs or technological updates in the marketplace.
“It was evident even before COVID-19 changed our lives that health care is rapidly changing,” Conlin said in a prepared statement. “Private equity and the large, publicly traded for-profit health insurers are moving in to aggregate technology assets.