Posted on 11/26/2013 8:10:21 PM PST by NormsRevenge
RALEIGH, N.C. (AP) -- North Carolina's largest health insurer will be allowed to raise premiums by between 16 percent and 24 percent on policies that would have been canceled for failing to meet minimum requirements required by the federal overhaul law, the state's insurance commissioner said Tuesday.
Insurance Commissioner Wayne Goodwin said his office approved the rate increases as requested by Blue Cross and Blue Shield of North Carolina. The decision means people who had one of the nearly 152,000 cancelled policies could keep them next year at the higher cost.
The plans for customers who buy their own policies were being cancelled because they didn't include coverage for pre-existing conditions, hospitalization, prescription drugs, and seven other basic benefits. President Barack Obama announced two weeks ago that companies can continue offering policies that don't meet minimum requirements under the Affordable Care Act if insurers desire and state regulators approve.
Blue Cross said the premium increases reflect higher medical costs, spokesman Lew Borman said.
(Excerpt) Read more at finance.yahoo.com ...
Barry needs to find a way to get those bucks out of people who want to keep their healthcare plan period to pay for his freeloader healthcare handouts.
Goodwin is a rodent, of course.
bttt
“I’ll give ya back the wallet I stole from you, if you pay me $1000,” said President Hope. “Oh, and I’m just gonna steal it again next fall. For your own good.”
It would be interesting to know how much of the 16-24% total increase was due to "new taxes and fees."
Twenty-one companies operating in North Carolina terminated 183,821 individual and group health insurance policies... Blue Cross had the most [152,000 policies], followed by 24,829 by Aetna and its subsidiary Coventry Health. Only Blue Cross has filed a request with the state Insurance Department to extend policies
So Blue Cross had 83% of the old policies. Now they've got 100%.
I'm impressed that Blue Cross got this done in a couple of weeks.
What happen to reducing cost by $2,500?
I still hear them occasionally saying Ocare saved $2,500, on the same basis.
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