***MULTIMEDIA PACKAGE*** Assembly Democrats on Bill to Increase Public Input on Health Insurer Conversions

***MULTIMEDIA PACKAGE***

ASSEMBLY DEMOCRATS ON BILL TO INCREASE PUBLIC INPUT ON HEALTH INSURER CONVERSIONS

(TRENTON) - Assembly members Gary S. Schaer, John F. McKeon, John S. Wisniewski, L. Grace Spencer and Jack Conners - the Democratic members of the Assembly Financial Institutions and Insurance Committee - today issued a multimedia package on legislation that would require increased public participation and independent analysis of any health insurer wishing to convert to a for-profit company.

The measure (A-3729) would provide more transparency in any potential conversion of a health insurer to a for-profit company by requiring the state to complete an independent health impact study, analyzing the impact of the conversion on the health status of New Jersey residents, increasing the number of public hearings to at least three and granting the Office of the Public Advocate access to all the material included in the conversion process.

The multimedia package consists of a video press release on the legislation, audio of same and a transcript of statements from the committee's Democratic members.

The video can be accessed directly via our Web site - www.assemblydems.com - or by clicking here.

The audio file is available upon request.

A transcript of sponsor statements is appended below:

Assemblyman John F. McKeon (D-Essex):

"We're trying to do no harm.  What we are looking to do here is to take the yoke of the not-for-profit world off of Blue Cross Blue Shield.  And as we've seen in those conversions in some other states in the country, it's actually worked for the consumer.  In other areas it hasn't.  So, it's a matter of seeing if it is the right fit for New Jersey and that's why this deliberative process is so important."

Assemblyman John S. Wisniewski (D-Middlesex):

"The value that that company represents does not belong to the company.  It belongs to the people of the State of New Jersey."

Assemblyman Gary S. Schaer (D-Passaic), Assembly Financial Institutions and Insurance Committee Chairman:

"The ramifications of the conversion of Blue Cross Blue Shield can be humongous - enormous - and affect everyone in the state.  For us to do a little bit more due diligence, I don't think that anyone can find fault with that."

Assemblywoman L. Grace Spencer (D-Essex), Assembly Financial Institutions and Insurance Committee Vice Chair:

"The other thing we have to consider is the long term outcome of this conversion.  If we're not careful, somewhere down the line we may not have the coverage that we have now for our underserved population.  And that is what we have to be mindful of.  We can't just let it happen without their being some transparency of how it will affect the people of the State of New Jersey."

Assemblyman Jack Conners (D-Camden):

"That is the whole idea of giving access to everyone that we possibly can to talk about this and have it thoroughly looked at from beginning to end."

McKeon:

"In theory this is a win-win, both for the rate payer as well as for the people of the state."

Spencer:

"Blue Cross Blue Shield occupies almost 46 percent of insurance coverage here in the State of New Jersey.  That's a lot compared to everyone else."

Wisniewski:

"We can't allow such an important asset of the State of New Jersey to be squandered, quite frankly."

Schaer:

"We don't want to regret this decision in a month or two months or three months."

Conners:

"The more transparent this issue is, the more access people have, I think the better off we are going to be."

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