For Immediate Release
10/2/08

Second Hearing on Merger Recommendations on Tuesday

New law empowers Committee to comment on Highmark/IBC proposal 

The Senate Banking and Insurance Committee will hold its second public hearing to take testimony prior to developing its recommendations on the proposed merger of Highmark Inc. and Independence Blue Cross on Tuesday, October 7 at 9 a.m. in Hearing Room 1 of the State Capitol North Office Building, according to Committee Chairman Senator Don White (R-41).

Act 62 of 2008 requires that any merger involving the "Blues" be subject to approval by the Department of Insurance. The new law also empowers the Senate Banking and Insurance Committee and the House Insurance Committee to receive and review all filings submitted to the Department and to develop written comments and recommendations on the merger filings.

"We received excellent analytical information through the testimony at our September 23 hearing," Senator White said. "I expect there will be additional detailed presentations and discussions at Tuesday's session."

The hearing is open to the public and the media is cordially invited to attend the proceedings.

Contact:

Noel Burch
(717) 787-8724

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