Blue Cross: Pay higher rates to keep policies
CHAPEL HILL, NC (AP) — North Carolina’s largest health insurer is asking for rate increases of between 16 percent and 24 percent to renew policies that would have been canceled for failing to meet minimum requirements under the federal overhaul law.
Blue Cross and Blue Shield of North Carolina said Tuesday it filed the necessary documents with the state Insurance Department that could allow up to 230,000 customers to keep their current coverage next year.
North Carolina Insurance Commissioner Wayne Goodwin said last week his agency will quickly review such requests. President Barack Obama last week announced companies can continue offering policies that don’t meet minimum requirements required by the federal health law.
The individual policies were being cancelled because they didn’t include coverage for pre-existing conditions, hospitalization, prescription drugs, and seven other basic benefits.
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