The biggest health insurance news in North Carolina this week is the recent press around Bluecross Blueshield of North Carolina filing a BCBS-NC 26% rate increase for 2016 ACA plans. A detailed overview of these filings can be viewed at at www.ratereview.healthcare.gov or by clicking here.
Who will this affect? These rate increases will likely affect all North Carolina residents who have an ACA compliant plan purchased on or off the marketplace.
However, it is important to note that the “26% rate increase headline number” is simply an average increase across all areas. Some areas may see increases that are lower or possibly higher. In addition, it is important to note that the Blue Select products are only anticipating a 17.72% rate increase, on average, for 2016. It is also important to note that these rate increases have NOT YET been approved. CMS and the NC Department of Insurance will need to review and approve these filings before they take effect on January 1st, 2016.
How do these 2016 BCBS-NC rate increases compare to the competition?
Aetna (the parent company of Coventry) have filed increases on their various ACA compliant plans ranging from 17.23% to 25.78%.
United Healthcare has filed for a 2016 rate increase of 12.48%.
In addition, as previously reported by www.NChealthconnector.org, Humana is expected to enter the North Carolina health insurance marketplace for 2015. This additional competition could be great news for many North Carolina residents!
Stay tuned to NChealthconnector.org for the latest North Carolina health insurance news! Need to get enrolled? We can help!