Former Commissioner Sharon P. Clark was initially planning on holding a public hearing this spring, even though she didn’t anticipate competition problems as a result of the merger.
But the new Kentucky Insurance Commissioner, Brian Maynard, doesn’t believe a public hearing was necessary at all. “Based on my office’s in-depth internal review, I felt no need to conduct a formal public hearing on the request, which would have resulted in additional expense being passed on to the consumer,” he said, according to the report. “In this case, a hearing would have been an unnecessary formality.”
The hearing would have given members of the public the chance to discuss the merger and their concerns.
According to Kentucky law, the insurance commissioner “shall approve any merger or other acquisition … unless, after a public hearing, the commissioner finds that” it could be harmful to consumers or the competitiveness of the market, according to the report.
Commissioner Maynard added that he does not foresee any potential problems the merger could cause. His administration “concluded there would be no adverse impact on consumers,” and “all indications are that overall competition in Kentucky’s health insurance market is strong.”
More articles on payer issues:
NC state insurance commissioner: BCBS failure is ‘an emergency that’s nowhere near being stabilized’
Molina Healthcare sees profit increase as revenue jumps 45.6%
Despite ACA, 30 million are still uninsured
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
