Rylee Wilson –
A Blue Cross and Blue Shield of Louisiana policyholder filed a proposed class action lawsuit seeking to block the insurer’s sale to Elevance Health, nola.com reported Dec. 5.
The lawsuit, filed Dec. 4, does not name BCBS Louisiana or Elevance, but the Accelerate Louisiana Initiative, the foundation BCBS Louisiana plans to fund with the proceeds from the Elevance sale.
BCBS Louisiana proposed that around 90% of the proceeds of the sale go to the foundation to advance health equity in the state, with around 10% paid out to BCBS Louisiana policyholders. The acquisition must be approved by two-thirds of BCBS Louisiana’s policy holders.