Department of Insurance approves Blue Cross Blue Shield rate hike
by Staff Reports
Wayne Goodwin on Friday announced a decision on Blue Cross Blue Shield of North Carolina's
request to increase rates for its Blue Advantage, Blue Options HSA and Blue Saver products for
BCBSNC requested an
average rate increase of 9.94 percent for Blue Advantage, Blue Options HSA and Blue Saver in August
2012. After a review of the filing, the Department of Insurance has approved an 8.14
percent average rate increase.
Approximately 365,000 people are enrolled in the affected health insurance plans, which are for
people under the age of 65 years.
The approval was based
on in-depth actuarial analysis and consideration of the impact of the Patient Protection and
Affordable Care Act that led to the conclusion that the approved rates are not excessive, not
inadequate and not unfairly discriminatory, in accordance with North Carolina law.
To view the full filing, go to http://infoportal.ncdoi.net/filelookup.jsp?divtype=3, use the SERFF for PPACA Filing search button, and enter BSNC-128615816 into the Tracking Number field.