Montana Healthcare Foundation

In 2013, Blue Cross/Blue Shield of Montana, then a not-for-profit corporation, was sold to Health Care Services Corp, a Chicago-based insurance company. Under state law, the sale assets were transferred to a charitable trust, the Montana Healthcare Foundation, to be managed for the public benefit. To date, the MHCF has roughly $80 million in assets.

Community Medical Center, Missoula, MT
Josh Burnham

A Missoula Community Medical Center board member says the only issue left to resolve in the sale of the hospital is whether $10 million from the sale can go to the University of Montana Foundation. But Attorney General Tim Fox appears to be taking a broader view.

Attorney General Tim Fox’s office said Tuesday a group of candidates have been nominated for the board of a new healthcare foundation created following the sale of Blue Cross Blue Shield of Montana to an out-of-state company.

The Montana Attorney General’s Office deposited a new $40 million check this week—money from the sale of Blue Cross, Blue Shield of Montana to an out of state company.

Another $100 million or more may eventually be on the way as Blue Cross sells off its assets.