Horizon BCBS’s conversion to mutual holding company approved

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.