FOR IMMEDIATE RELEASE
DEPARTMENT TO HOLD PUBLIC HEARINGS ON EMPIRE BLUE CROSS AND BLUE SHIELDS PLAN OF CONVERSION
Superintendent of Insurance Gregory V. Serio announced that the Department will hold public hearings on August 6th and August 7th in Manhattan and Albany as part of its regulatory review of Empire Blue Cross and Blue Shields proposal to convert to a for-profit company.
Empire has submitted a formal Plan of Conversion to the Department. Copies of the Plan may be obtained by calling Empire at 1-800-588-6613 or the Department at 212-480-5262. The Plan is also posted on Empire HealthChoice, Inc.s internet website at www.empireblue.com.
Although all policyholders will receive notice of the hearings, the proposed conversion will not affect policyholders present rates or benefits, which will be automatically continued by the new proposed for-profit corporation.
The public hearings are scheduled as follows:
|New York City:||August 6, 2002 at 10:00 AM|
|569 Lexington Avenue at 51st Street|
|New York NY|
|Albany, NY:||August 7, 2002 at 10:30 AM|
|Legislative Office Building|
|Hearing Room A|
You may testify at these hearings or submit written comments concerning Empires proposed Plan. Testimony or comments should address the Plan. Testimony and comments regarding the Legislation or the proposed disposition of the assets of Empire HealthChoice, Inc. as required by the Legislation will not be entertained in connection with this hearing. Any person wishing to testify should contact the Departments Public Affairs Bureau at (212) 480-5262.
Written comments should be addressed to Ellen Wenz, Public Affairs Bureau, New York State Insurance Department, 25 Beaver Street, New York, NY 10004. Comments will be accepted for 20 days after the close of the last public hearing.