LANSING, Mich. (AP) -- Michigan Gov. Rick Snyder has proposed overhauling Blue Cross and Blue Shield of Michigan, including ending the nonprofit health insurer's tax exempt status and aligning it with competitors across the state.
Snyder said Tuesday that he seeks to "level the playing field" for insurers and modernize Michigan's insurer of last resort that serves 4.4 million residents.
The plan would require Blue Cross to contribute about $1.5 billion over 18 years to a nonprofit entity aimed at improving public health and health care access. It would pay about $100 million in taxes.
Blue Cross officials say it's "not exactly" what it would have proposed but it creates a "fair and balanced set of rules of health insurance."
The plan requires approval by the Legislature and Blue Cross' board of directors.