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Member, Beacon International Group, Ltd.
Horizon Blue Cross Blue Shield of New Jersey, the not-for-profit health insurance carrier that covers nearly one-third of all New Jersey residents, just received the state’s permission to convert to a not-for-profit mutual holding organization, NJ.com reports. The corporate change means Horizon will immediately gain access to $300 million to form for-profit subsidiaries and pursue options such as investing in technology and buying physicians practices, the report says.