Horizon will reinvest AMT savings

Horizon Blue Cross Blue Shield of New Jersey will reinvest an estimated $150 million realized from the Alternative Minimum Tax (AMT) in the Tax Cut and Jobs Act of 2017 to fund initiatives that will improve health care for its customers.  The funds will target behavioral health, access to care and addiction.

“Horizon is entirely focused on serving our 3.8 million members. In keeping with our long-standing mission to operate for the benefit of our customers, this plan seeks to provide to them this year, in the most direct way possible, $150 million in relief. Members will also benefit from the substantial investments this plan makes to expand access to care, improve health care quality and lower costs,” said Kevin P. Conlin, Chairman, President, and CEO of Horizon BCBSNJ.

Horizon says that they will work with the state Department of Banking and Insurance for approval of their plan to provide $150 to their customers and invest $125 million in a series of multi-year health care initiatives.