N. Carolina insurer: Must raise premiums more than expected
RALEIGH, N.C. (AP) — North Carolina’s largest health insurer says higher-than-anticipated costs after two years of selling federally subsidized coverage has forced it to seek premium increases even greater than it thought two months ago.
The move comes as dozens of health insurers across the country also consider increasing premiums for individual policies well beyond 10 percent for 2016. That’s according to a study by national health care think tank The Henry J. Kaiser Family Foundation
Blue Cross and Blue Shield of North Carolina said Thursday that it now seeks an average 35 percent higher premium for insurance sold under President Barack Obama’s health insurance overhaul law. The company said in June that it wanted to raise rates by an average of almost 26 percent starting in January, compared with this year’s allowed 13.5 percent increase.