As reported in the news late last week, Blue Cross Blue Shield of North Carolina recently requested an adjustment to their 2016 rate increase for North Carolina health plans sold on the health insurance marketplace. As we reported in June, Blue Cross Blue Shield of North Carolina (BCBS-NC) originally proposed a 25.7% rate hike for marketplace plans in 2016. However, BCBS-NC recently announced on their website, that the requested rate increase would be revised based on two main factors:
“Early on, industry and government officials counted on two assumptions: A healthier mix of customers in the second year (2015), and a leveling-out of medical spending this year following a surge in demand for the initial year. We now have enough data to know that both of these assumptions have not proven true.”
Blue Cross Blue Shield NC rate increase: 34.6%
In addition, BCBS-NC also announced that they would discontinue the wider network PPO plans in 16 North Carolina counties for 2016: “In keeping with this approach, we will no longer offer Blue Advantage and Blue Select plans in the counties in the Charlotte, Raleigh and Durham markets.”
It is important to note, that in the Charlotte, Raleigh and Durham markets, BCBS-NC has experienced increased competition from United Healthcare and Coventry/Aetna – and Humana is expected to begin offering marketplace plans in these metro areas for 2016 as we previously reported. Click here to see all available marketplace plans in your area of North Carolina.
Of course, the Blue Cross Blue Shield NC rate increase request of 36.4% is still subject to regulatory review, and may not be approved by the North Carolina Department of Insurance. Stay tuned to NChealthconnector.org for breaking North Carolina health insurance news!
Click here to read the entire BCBS-NC blog release concerning the new 34.6% rate increase.