For Immediate Release: November 9, 2012
Department of Insurance Makes Decision on BCBSNC Individual Rate Filing
RALEIGH — Insurance Commissioner Wayne Goodwin today 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 individuals.
BCBSNC requested an average rate increase of 9.94 percent for Blue Advantage, Blue Options HSA and Blue Saver in August 2012. After a thorough review of the filing, the Department of Insurance has approved an 8.14 percent average rate increase, resulting in approximately $18 million in savings for consumers. 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://www.ncdoi.com/LH/LH_Filing_Search.aspx, use the SERFF for PPACA Filing search button, and enter BSNC-128615816 into the Tracking Number field.