Triangle Business Journal: 16 - 24% Increase to Keep Your Plan for Another Year
You can keep your Blue Cross plan for another year, but you’ll have to pay more for it
Staff Writer- Triangle Business Journal
Nov 19, 2013, 3:26pm EST
Blue Cross and Blue Shield of North Carolina officially filed the necessary paperwork to apply to extend the health insurance plans that were to be eliminated, but were given a one-year extension by the Obama administration. Those plans would see rate increases of between 16 percent and 24 percent.
The N.C. Department of Insurance must review the applications; Commissioner Wayne Goodwin has already said he would give these applications priority.
“I’m calling on our health insurers to take advantage of this opportunity, and I’ve directed my staff to do what is necessary to make sure that insurers can allow their policyholders to keep their plan for another year,” Goodwin said at a press conference last week after President Obama announced that plans could be extended for one more year.
BCBSNC customers with Blue Advantage, Blue Advantage SaverSM, Blue ValueSM and Blue Options HSASM policies whose plans were in place as of Oct. 1, 2013 would be eligible to renew their plans if the commissioner approves the extension.
“By taking this action, we are giving approximately 230,000 customers an additional option to consider as they weigh their health insurance choices for 2014,” said Brad Wilson, president and CEO of BCBSNC, in a statement. “These are high-quality health plans that have provided great value and peace of mind for our customers. We believe many of them will welcome the opportunity to renew these plans for another year.”
Across the state, more than 473,000 received notices that they would not be allowed to keep their plans from 2013 because they were not compliant with the Affordable Care Act. Read more…