Four things to know:
1. With Gov. Phil Murphy’s signature, Horizon can convert from a nonprofit health services corporation to a nonprofit mutual holding company.
2. The change will allow Horizon to acquire other providers and pharmacy benefit managers, according to the report. The legislation says that Horizon cannot become a for-profit company, but it can create for-profit subsidiaries.
3. Opponents of the legislation have been wary about how the change would affect members, arguing it would allow Horizon to become a for-profit enterprise that focuses more on shareholders than members, according to the Asbury Park Press.
4. Under the restructure, Horizon agreed to pay New Jersey $1.25 billion over 18 years, including $600 million in 2021, according to the report.
Read more here.
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