Topeka ? The Kansas Supreme Court plans to issue a decision Wednesday on the proposed acquisition of the state’s largest health-insurance company by an Indiana firm.

The justices could allow Anthem Insurance Companies, of Indianapolis, to purchase Blue Cross-Blue Shield of Kansas, or they could block the deal.

The justices also could return the case to the insurance commissioner’s office for more review, putting the decision in the hands of Republican Sandy Praeger, who succeeded Democrat Kathleen Sebelius, elected governor last year.

The court issued a statement Monday saying it planned to release its decision at 9:30 a.m. Wednesday.

Blue Cross-Blue Shield covers about 660,000 Kansans. Anthem has 11.1 million policyholders.

Anthem planned to pay $190 million to acquire Blue Cross, with at least $142 million of it going to policyholders, who own the Kansas company. Blue Cross would have distributed $131 million of its existing reserves to policyholders.

In February 2002, Sebelius, as commissioner, ruled that insurance premiums would increase too much under the proposed sale.

“We’re hopeful that the court agrees with Governor Sebelius’ decision, which she believed and still believes puts the interest of people first,” Sebelius spokeswoman Nicole Corcoran-Basso said Monday.

In June 2002, considering an appeal from the two companies, Shawnee County District Judge Terry Bullock declared that Sebelius had exceeded her authority. She appealed his ruling to the Supreme Court.

Anthem and Blue Cross contend say the transaction would give Blue Cross access to capital and new policyholders.