Political Quotes

“this bill amends the Federal Charter of GHSMI, the Blue Cross/Blue Shield Plan of the National Capital Area. This bill is necessary in order to enable a letter of intent between the parties to combine to be subject to regulatory approval in Maryland and the District of Columbia. GHMSI will continue to be subject to the District's Nonprofit Corporation Act and is under the jurisdiction of the insurance superintendent. GHMSI will continue to be bound by its existing certificates of authority and licenses and will continue to be bound by applicable laws and regulations. H.R. 497, which passed this House in February, would have repealed the Federal charter. This bill reflects concerns which were subsequently raised. All other Blue Cross plans in the country are State-chartered corporations operating under State regulatory oversight. Due to a 1939 pre-Home Rule statute, GHMSI alone needs congressional approval to change its corporate structure. Madam Speaker, I reserve the balance of my time.”