March 2, 2016
OLYMPIA, Wash. – Insurance Commissioner Mike Kreidler has received the formal application, called a Form A filing, from Kaiser Foundation Health Plan (Kaiser) on its proposal to acquire Seattle-based Group Health Cooperative (Group Health).
The application includes a public summary (PDF, 119KB) of the proposal, however, the full application is confidential until Kreidler’s review is complete. Once a hearing on the application is scheduled, all portions of the application that are not confidential will be public.
Members of Group Health have until March 9 to vote on the proposed acquisition with the final vote to be announced at a special meeting on March 12.
Kreidler’s review of the application will begin immediately. However, if the Group Health voting membership votes against the proposal all proceedings end.
If the membership approves the sale, our review will continue. Guided by the state’s Holding Company Act (RCW 48.31B.015) and (RCW 48.31B.020 (leg.wa.gov), the commissioner will consider the proposal’s effect on the overall stability of the health insurance market in Washington state, including competition and consumer choice.
The entire process is expected to take at least six months and likely longer. The commissioner’s office will post all public documents and official orders related to the proposed sale during the review. Regional public meetings will be held later this year, followed by a formal public hearing once the review is complete.
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