Delaware approves Blue Cross Blue Shield plan’s affiliation with Highmark

by Julian Pecquet - 12/30/11 4:13 PM ET

{mosads}Under the terms of the agreement:

• BCBSD will remain in Delaware;

• The Board of Directors will include independent Delaware residents who have lived in Delaware for at least five years and are not employees of BCBSD, Highmark or any of its affiliates;

• The assets and reserves of BCBSD will be fully protected and can be used only for the benefit of Blue Cross Blue Shield of Delaware or its subscribers;

• Community contributions that BCBSD has made in the past will continue; and

• All operations will remain under the direct regulatory control of the Delaware Insurance Department.

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