Statement from Blue Cross Blue Shield of Michigan on Michigan Health Endowment Fund board appointments
Oct. 2, 2013
DETROIT—Blue Cross Blue Shield of Michigan released the following statement from Daniel J. Loepp, president and CEO, regarding the formation of the Board of Directors of the Michigan Health Endowment Fund.
“For nearly 75 years, Blue Cross Blue Shield of Michigan has served a special role as a nonprofit insurer. Our focus went beyond insurance, and our nonprofit commitment served to deliver a broader benefit to improve and protect the health of all the people of Michigan.
“Earlier this year – thanks to the vision and leadership of Governor Snyder and the Michigan Legislature – Public Acts 3 and 4 were passed and signed into law to enable Blue Cross to transition to become a nonprofit mutual insurer. This transition process is going very well, and we will complete it by year’s end.
“One of the principles we shared as the legislation moved through the process was a commitment by all involved to preserve Blue Cross as a nonprofit company, based in Michigan, and committed to its future.
“As a result of the new law, Blue Cross is very pleased to be able to contribute substantially to the Michigan Health Endowment Fund as a continuing expression of our longstanding nonprofit mission.
“Our $1.56 billion in long-term contributions enables the Endowment Fund to sustain the Blues’ commitments in a number of areas, like protecting the vulnerable, including kids and seniors, and promoting a healthier Michigan.
“We congratulate and welcome the new Board of Directors and thank Governor Snyder and the legislature for their bold leadership in molding this legislation and positioning the Endowment Fund to improve the health of our state and its people well into the future.”
Blue Cross Blue Shield of Michigan is a nonprofit corporation and independent licensee of the Blue Cross and Blue Shield Association. For more information, visit www.bcbsm.com/news and www.mibluesperspectives.com