On September 17, 2002, Premera Blue Cross filed a Form A application to the Washington Office of the Insurance Commissioner to convert from a non-profit health services contractor to a for profit publicly traded health insurer. The company filing states that the full value of the proceeds of the conversion would be transferred to a foundation with the assets used to serve the healthcare needs of the populations o Alaska and Washington, the two states in which Premera operates as a non-profit. PriceWaterhouseCoopers LLP was retained by the Washington Office of the Insurance Commissioner to assess the potential market impact of the proposed conversion of Premera Blue Cross on the Washington healthcare market.