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Blue Cross North Carolina's For-Profit Plan gets Board Approval.
Byline: Dana Damico
Dec. 13--The 14-member board of trustees of Blue Cross and Blue Shield of North Carolina voted unanimously at a special meeting in Chapel Hill yesterday to support plans to convert to a for-profit company.
Blue Cross is the state's largest insurer with 2.5 million customers.
The N.C. Department of Insurance and the N.C. Attorney General's Office must approve the conversion, which Blue Cross officials say could happen as early as May 2002.
"Conversion is the right thing for our customers, our company and our state," said Bob Greczyn, the president and chief executive of Blue Cross.
"Ultimately, premiums will …
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