Blue Cross & Blue Shield United of Wisconsin Conversion Plan Approved by BlueCross BlueShield Association.MILWAUKEE--(BW HealthWire)--Sept. 30, 1999-- Blue Cross & Blue Shield Blue Shield A US not-for-profit health care insurer that is a reimbursement intermediary for physicians. Cf Blue Cross. United of Wisconsin's planned conversion to a shareholder owned company has been approved by the BlueCross BlueShield Association. The Wisconsin Wisconsin, state, United States Wisconsin (wĭskŏn`sən, –sĭn), upper midwestern state of the United States. It is bounded by Lake Superior and the Upper Peninsula of Michigan, from which it is divided by the Menominee Blue Cross & Blue Shield organization announced earlier this year its plan for converting from a service insurance corporation to a stock company. As part of the conversion plan, Blue Cross will donate the entire equity value of its stock, initially estimated at $250 million, to a new foundation it is forming. The "Blue Cross & Blue Shield United of Wisconsin Public Health Foundation" will fund public health initiatives throughout the state of Wisconsin. The principal recipients of the foundation's donation will be the Medical College of Wisconsin and the University of Wisconsin Medical School. The approval of the conversion plan by the BlueCross BlueShield Association is necessary because the Association oversees the licensing of the Wisconsin Blue Cross plan and the 50 other independent, locally operated Blue Cross and Blue Shield companies. The Wisconsin Blue Cross conversion to a stock company and the creation of the public health foundation will occur following the required approval by Wisconsin regulators, including the Office of the Commissioner of Insurance. The board of directors of Blue Cross & Blue Shield United of Wisconsin has appointed a special committee of the board to explore a possible merger or other business combination with United Wisconsin Services, Inc. (NYSE NYSE See: New York Stock Exchange : UWZ) following the conversion to a stock company. Blue Cross currently controls 52 percent of the public stock of United Wisconsin Services, which provides health care services to 1.8 million people nationally. Headquartered in Milwaukee Milwaukee (mĭlwŏk`ē), city (1990 pop. 628,088), seat of Milwaukee co., SE Wis., at the point where the Milwaukee, Menominee, and Kinnickinnic rivers enter Lake Michigan; inc. 1846. , the Wisconsin Blue Cross plan operates regional service centers throughout the state. The company's Internet address There are two kinds of addresses that are widely used on the Internet. One is a person's e-mail address, and the other is the address of a Web site, which is known as a URL. Following is an explanation of Internet e-mail addresses only. For more on URLs, see URL and Internet domain name. is http://www.bcbsuw.org See .org. (networking) org - The top-level domain for organisations or individuals that don't fit any other top-level domain (national, com, edu, or gov). Though many have .org domains, it was never intended to be limited to non-profit organisations. RFC 1591. |
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