BCBS Louisiana officials did not specify the length of the delay they are seeking from the state’s insurance department, according to the report. The request was made after officials met with Louisiana Attorney General Jeff Landry.
Mr. Landry told the officials that he does not want the sale to proceed until more questions about the deal have been answered and a new governor and insurance commissioner have taken office, according to the report. Mr. Landry is running for governor but told the news outlet he met with BCBS in his capacity as attorney general and not a gubernatorial candidate.
BCBS said it and Elevance are working with the Louisiana Department of Insurance on the “best approach to provide more time for the attorney general and others to understand the benefits of the transaction.”
Elevance announced in January it planned to acquire BCBS Louisiana, which will become a for-profit Elevance subsidiary if the deal is approved. The proposed $2.5 billion deal needs approval from the state insurance commissioner along with two-thirds of BCBS policyholders.
The public hearings BCBS is seeking to delay are scheduled for Oct. 5 and 6. They were previously scheduled for Aug. 21 and 22 but were moved after state officials — including Mr. Landry — raised concerns about the sale.
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