Foundation head expects assets to grow to $150M
The chairman of a foundation funded by the sale of Blue Cross and Blue Shield of Montana says he expects the foundation's assets to grow from $40 million to more than $150 million.
Board chairman Denis Prager says the Montana Healthcare Foundation is still organizing, but plans to hand out $1 million in grants this year to fund health-care programs.
The foundation began with $40.2 million from last year's sale of Blue Cross to Health Care Service Corp. of Chicago.
Prager tells Lee Newspapers of Montana those assets could nearly quadruple as portions of Blue Cross that were not part of the sale are liquidated.
That could include property, leftover reserves and deferred tax benefits.
But the company handling those assets also must pay old liabilities not assumed by HCSC.
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