- Citing continuing cost overruns, Blue Cross and Blue Shield executives said the payer could exit North Carolina’s ACA market in 2017 if things don’t improve, The News&Observer reported.
- A 32.5% approved rate hike this year didn’t turn the tide, and the firm will seek a further increase next year.
- Blue Cross’ financial results for the second full year of Obamacare are due out in March.
Whether Blue Cross remains in North Carolina depends on the size of the rate hike approved for 2017. The North Carolina Department of Insurance will make that determination in the fall.
The payer is the largest insurer in the state and its exit would affect more than 300,000 residents, forcing them to seek coverage from the other two ACA insurers. However, there are concerns that they could also leave the market.
Separately, the Department of Insurance is monitoring software issues at Blue Cross that have affected service to its customers, the Triangle Business Journal reported. The problems, including billing and coverage verification, have led to more than 1,000 complaints by Blue Cross customers since the start of the year.