Amid Rising Opposition, Elevance Pauses Deal to Buy Louisiana Blues
Elevance Health, Inc.’s planned acquisition of Blue Cross and Blue Shield of Louisiana (BCBSLA) has been put on hold as political opposition to the deal intensifies. The deal, which was announced in January, was already troubled due to investigations by state regulators and a bipartisan uproar from state elected officials. One managed care insider says macroeconomic conditions likely have redoubled considerable opposition to the deal from providers and other stakeholders.
The New Orleans Times-Picayune reported that BCBSLA leaders met with Republican Attorney General Jeff Landry, a frontrunner in the ongoing gubernatorial race in Louisiana, on Sept. 18. The attorney general hopes that the deal will be delayed until the new governor and insurance commissioner take office, according to the newspaper. (Jim Donelon, the incumbent Republican commissioner, plans to retire.)
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