NC's Blue Cross cutting 'Obamacare' prices despite changes
Source: Associated Press
Emery P. Dalesio, Ap Business Writer
Updated 11:34 am CDT, Tuesday, July 31, 2018
RALEIGH, N.C. (AP) — North Carolina's largest health insurer said Tuesday it's cutting some individual premiums for the first time in over a quarter century, but next year's savings on subsidized "Obamacare" coverage would have been much larger if Washington had left the law alone.
Blue Cross and Blue Shield of North Carolina said it proposed prices to state insurance regulators that could lower rates for next year's Affordable Care Act policies by 4.1 percent on average.
About 85 percent of the savings comes from last year's federal income tax cut and Congress suspending a tax on insurers for 2019, the Durham-based company said. Blue Cross didn't describe how much it saved from the tax cut.
The company also will cut costs in 2019 by striking new deals with medical providers in the Charlotte and Raleigh-Durham metro areas.
Read more: https://www.chron.com/news/medical/article/NC-s-Blue-Cross-cutting-Obamacare-prices-13119827.php