Political Quotes

“I rise in support of H.R. 3025, a bill which simply adds a new section to the Federal charter of Group Hospitalization and Medical Services, Inc., the organization licensed to operate as Blue Cross and Blue Shield of the National Capital Area, to permit it to enter into a business combination with Blue Cross and Blue Shield of Maryland. This new arrangement is designed to improve both companies' service delivery and to reduce their operating costs. By combining operations, the two hospital plans will be able to offer their enrollees a larger provider network offering greater portability and broader product options. In addition, economies of scale should lead to more affordable premiums. Should the combination go forward, a new nonprofit holding company would be established, and the two Blue Cross plans would become its subsidiaries. H.R. 3025 would give D.C. Blue the requisite legal and corporate authority to have one class of members whose rights and privileges would be set out in the plan's bylaws. Only one member will be authorized, which would be the holding company. I wish to emphasize that H.R. 3025 does not create or mandate the plans' combination. That arrangement would first have to be approved by the District of Columbia and Maryland insurance commissioners before taking effect. Madam Speaker, I can support H.R. 3025 because of ironclad safeguards. No conversion of tax-exempt assets will be allowed under the language of this bill.”