Blue Cross and Blue Shield of Florida can revamp its corporate structure but cannot make moves toward converting to for-profit status, officials said Friday.
The Florida Office of Insurance Regulation has set rules for the Florida Blue structure change in an order.
Florida Blue is now a nonprofit mutual insurer.
The company has asked for permission to form a non-profit mutual insurance holding company that would own the Blue Cross and Blue Shield Association licenses that give the company the right to use the “Cross and the Shield.”
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