Non-profit executives could cash in on future stock deals under a reorganization proposed by the state’s largest health insurer, Florida Blue.
Company filings acknowledge the changes could pose a new conflict with its mission of providing low-cost insurance to more than 4 million policyholders: the duty to do what’s best for shareholders
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Read the company’s application:
How to get involved
What: Public hearing by the state’s Office of Insurance Regulation on Florida Blue’s reorganization plan
When: 5:30 p.m. Thursday
Where: Miami-Dade College (Wolfson Campus), Auditorium Room 1261, 300 N.E. 2nd Avenue, Miami
What next: Must be approved by regulators and policyholders
More information: http://www.floir.com/Sections/LandH/BCBSHearing.aspx
How we got the story
When Florida’s oldest insurer, and one of its largest employers, announced that it was reorganizing, Palm Beach Post insurance reporter Charles Elmore and health reporter Stacey Singer teamed to dig deeper. They reviewed hundreds of pages of insurance filings. Through records requests, they obtained information not included in the application including documents showing at least 14 non-profit officers and directors were paid more than $1 million in 2012.