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Insurance Department Sets Public Hearings for GHI Conversion

Today's Times Union has this story:

The public will have its say at the end of the month on a proposal for New York City health plan giant Group Health Inc. to turn into a for-profit entity. GHI merged in 2006 with another large insurer, HIP Health Plan of New York City, to form a plan that now has about 4 million members. As part of its conversion from a nonprofit to for-profit corporation, GHI-HIP proposes an initial public offering of stock.

The conversion must be approved by the state insurance commissioner.

The complete TU story (time limited) is here. The Insurance Department has posted all of the GHI conversion materials, including its plan of conversion, on its website here.

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