LANSING (WKZO) -- Governor Rick Snyder has signed reforms to Blue Cross Blue Shield of Michigan into law. The reforms passed in the Michigan legislature earlier this month.
The reforms will allow Blue Cross Blue Shield of Michigan to operate as a nonprofit mutual insurer. The company is expected to invest 1.6-billion dollars into the Michigan Health Endowment fund. 120-million dollars are also guaranteed by the new measure to subsidize Medigap payments from 2016 to 2021.
Snyder vetoed similar legislation last year over language that prohibited abortion coverage without a policyholder purchasing a special optional rider. That language was not included this time.