HELENA – Montana’s insurance regulator on Thursday approved, with conditions, the purchase of Blue Cross and Blue Shield of Montana by the fourth largest health insurance firm in the nation.
The approval by state Auditor Monica Lindeen, coupled with the sign-off Tuesday by Attorney General Tim Fox, clears the way for Blue Cross of Montana – Montana’s largest private health insurer – to become a division of Chicago-based Health Care Service Corp.
Blue Cross has about 250,000 customers in Montana. HCSC, which owns Blue Cross companies in Illinois, Texas, New Mexico and Oklahoma, has 13.2 million customers.
Lindeen approves acquisition of Blue Cross Blue Shield